Onex Corporation has agreed to sell Tomkins division Schrader International to Madison Dearborn Partners for $505 million.
Northern Ireland-based Schrader, which manufactures tire pressure monitoring systems and other auto accessories, had fiscal year 2011 revenue of approximately $451 million and adjusted earnings before interest, tax, depreciation and amoritisation of $76 million.
Onex sells Tomkins division to Madison Dearborn
The firm has sold a business line of UK engineering company Tomkins, the largest private equity buyout of 2010 at $4.7bn, to Madison Dearborn Partners for $505m.
