Michelin Completes Acquisition of Cooley, Strengthening Its Position in Coated Fabrics
Michelin finalized the acquisition of Cooley Group, a U.S. specialist in high-performance polymer coated fabrics, on Thursday, January 22. The deal, announced on January 2, has received all required regulatory approvals and was funded by the group's available cash.
Strategic Alignment and Geographic Synergies
Based in Rhode Island, USA, and founded in 1926, Cooley is recognized for its expertise in high-performance polymer coated fabrics for various industries. According to Michelin, this acquisition represents a strategic fit between the two companies, who share a commitment to innovation and high-quality products. The group also stated that the two companies operate in complementary geographical areas, which will facilitate Cooley's integration into Michelin's portfolio.
Integrated Operations and Diverse Applications
Cooley has a vertically integrated structure, with capabilities in weaving, knitting, and polymer extrusion. The company designs and manufactures innovative and sustainable polymer solutions for various applications including medical devices, waterproofing, chemical retention, and other critical environmental solutions. Cooley employs 300 people and primarily operates in North America, where it has four factories, three in the United States and one in Canada. In 2025, the company generated revenue of $168 million.
Financial Strategy and Future Integration
Michelin indicated that the acquisition was funded through its available cash, thereby maintaining the group's strong financial position. This financing method demonstrates the tire manufacturer's ability to absorb this transaction without resorting to external debt. The integration of Cooley is part of the celebration of its centenary in 2026.
