Schrader Electronics sale to fetch £550M?
The Telegraph reports engineering firm Tomkins plc is selling its Schrader Electronics Ltd. tyre pressure monitoring systems business for approximately £550 million. Tomkins has appointed Barclays Capital to manage the sale of the Northern Ireland based business; The Telegraphs states that Tomkins’ Sensors and Valves business, which is also located in Northern Ireland, is being sold along with Schrader. According to the newspaper, a “handful of private equity firms” have been approached regarding the sale.
Schrader Electronics designs and manufactures its TPMS products in Antrim and operates offices in 11 countries. The company’s customer list includes virtually ever car manufacturer in the world, including GM, Ford, Daimler, Chrysler, Nissan and Renault. Recently BMW awarded Schrader the first global contract to supply OEM motorcycle TPMS systems.