Sensata Technologies to Buy Schrader GroupDaniel McCarthy (Author) Published Date : Aug 18, 2014 12:06 IST
To develop their business in pressure monitoring sensors Sensata Technologies the electrical control maker and sensor making firm will be buying Schrader group of companies which is valued $1 billion according to the reports recently.
Madison Dearborn Partners the private equity firm are the mother company of Schrader International are one of the leaders in TPMS according to the Sensata information.
Recently the sensor which alerts the driver when a tire of the car is under inflated alerts the driver is becoming famous especially in the North America region and the use of the system has been increasing in Europe and Asian markets as well.
Schrader which headquarters is located in Denver sells the sensors in the United States, Germany, United Kingdom, China, Japan and South Korea and it has a huge firm where 2500 employees work under the firm and the sensor company also gained $550 million revenue in the current year said Sensata.
Sensata a Netherland based company informed that if the deal works out they will be able to reduce their adjusted earnings of the firm to 13-16 percent per share this year which can be a handy deal for the sensor company.
Meanwhile the deal will be financed by Barclays Bank along with Morgan Stanley Senior Funding will be finalizing the deal in the last quarter of the year.
Schrader was advised from Citigroup and Guggenheim Securities while Sensata gets it from Centerview Partners for the deal.
Sensata Technologies to Buy Schrader Group