Michelin to Acquire Tex-Tech Industries; Arlington Spins Out FMI Industries

Tex-Tech Industries Acquires Fiber Materials Inc. from Spirit AeroSystems for $165M

January 13, 2025

Aerospace & Defense

Spirit AeroSystems has sold its Fiber Materials Inc. (FMI) business to Tex‑Tech Industries, Inc. for $165 million in cash. FMI — a supplier of high‑temperature carbon/carbon and ceramic matrix composites with facilities in Biddeford, Maine and Woonsocket, Rhode Island and roughly 400 employees — supplies materials for defense and NASA programs; Tex‑Tech said the acquisition expands its thermally protective materials capabilities for aerospace, defense and space markets.

Michelin Acquires Flexitallic

February 1, 2026

Industrial Services

Michelin has acquired Houston, Texas-based Flexitallic, a provider of high-performance gaskets, sheet products, and specialty filler materials for energy and chemical industries. The acquisition is intended to broaden Michelin’s sealing portfolio and expand its reach, particularly into the aftermarket.

Newbury Franklin Industrials Acquires Metaltech Service Center, Inc.

April 28, 2023

Industrial Services

Newbury Franklin Industrials (NFI), a value-added supplier of consumable industrial components, has acquired Metaltech Service Center, Inc., a hybrid steel service center and value-add processor headquartered in Houston. Metaltech CEO Brad Koenig will remain as CEO to execute growth plans while NFI (a platform backed by Ironwood Capital) intends to leverage its broader product portfolio and distribution capabilities to cross-sell and expand Metaltech's sales pipeline.

Avem Partners Acquires FMI Aerostructures

April 15, 2025

Aerospace & Defense

Avem Partners, with capital support from True West Capital Partners, a prominent family office and other investors, closed the acquisition of substantially all assets of Dynamic Aerostructures, Inc. (doing business as FMI Aerostructures) via a court-supervised Section 363 sale following the company's Chapter 11 filing. Avem intends to stabilize operations at FMI's 226,000-square-foot Valencia, California manufacturing facility, leverage customer relationships with major aerospace OEMs, and expand its aerospace and defense manufacturing footprint.

Allied Industrial Partners Makes Majority Recapitalization of Mat Tech Industrial Services

June 1, 2023

Industrial Services

Allied Industrial Partners (AIP) completed a majority recapitalization investment in Mat Tech Industrial Services, a Houston-area provider of specialty rental equipment and industrial waste management services. Mat Tech’s founder and CEO Mike Tinnin will remain in leadership as AIP plans to support the company’s buy-and-build growth and organic expansion across downstream petrochemical and industrial end markets. Terms were not disclosed; GulfStar acted as Mat Tech’s financial advisor.

Novaria Group Acquires FMi Chemical, Inc.

April 26, 2022

Manufacturing

Novaria Group has signed a definitive agreement to acquire FMi Chemical, Inc., a Bloomfield, Connecticut-based supplier of nonmetallic aerospace sealants, compounds and coatings. FMi will continue operating out of Bloomfield under COO Nancy Daigle, with the company being purchased from its current owner, Harry Fine; terms were not disclosed and the transaction was expected to close in May 2022.