Sensata Technologies to buy Schrader in $1 billion deal

Reuters News
Posted: Aug 18, 2014 6:23 AM

(Reuters) - Sensors and electrical controls maker Sensata Technologies Holding NV said on Monday its unit would buy Schrader group of companies from private equity firm Madison Dearborn Partners LLC for an enterprise value of $1 billion.

Schrader, which makes tire pressure monitoring sensors, is expected to have $550 million in revenue this year, Sensata said.

(Reporting by Mridhula Raghavan in Bangalore; Editing by Joyjeet Das)