Schrader Sold in $505 Million Deal

TPMS manufacturer and supplier Schrader has been sold for $505 million after parent company Tomkins agreed a deal with private equity firm Madison Dearborn Partners LLC.

Schrader is a major producer of both OE and replacement TPMS products, as well as tire valves and other tire tools. Its OE 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 OE motorcycle TPMS.

The deal is subject to the normal conditions and is expected to close in the second quarter of 2012. Schrader, which produces both OE and aftermarket TPMS and valve products reported 2011 revenues of approximately $451 million and adjusted EBITDA of approximately $76 million.

Tomkins is itself owned by Onex Corp. and Canada Pension Plan Investment Board, which hold 50% each. Proceeds of the sale are expected to be used primarily to repay existing debt.

GRI recently conducted programs in Sri Lanka to empower women and motivate children under its Green x Circle initiative. The company said these endeavors aimed to address the needs of the community, focusing on both women empowerment and youth motivation.

GRI recently organized a training program titled "Management of household finance under current economic conditions" at the Ingiriya Rubber Collecting Center in Sri Lanka, South Asia led by Shashika Nimali, an NLP practitioner and life coach. The company said this initiative provided women in the industry with essential skills and knowledge to effectively manage household finances. GRI's tailored training sessions equipped participants with tools for informed decision-making, ultimately fostering greater financial security and independence, the company said.