IDI and Andera Partners announce the conclusion of a transfer agreement relating to the entire capital of Flex Composite Group to the Michelin group. The enterprise value amounts to 700 million euros. The IDI and Andera Partners achieve an investment multiple greater than 12x on this investment. The operation, subject to the agreement of the competition authorities, should be completed in the third quarter of 2023.
Julien Bentz, Managing Partner at IDI comments: “Since 2015, IDI has supported FCG in accelerating its development. This investment illustrates the IDI’s strategy aimed at supporting SMEs and ETIs positioned in high-growth niche markets to make them European or world leaders. We are proud to announce the backing of FCG to a French industrial group of global stature such as Michelin, which constitutes a solid partner, offering interesting prospects and a lasting future to the teams. This operation also demonstrates the relevance of the strategy developed for FCG. Joining Michelin will also enable FCG to increase its R&D capabilities and accelerate its conquest of the American market by capitalizing on its presence in the United States. »