Tomkins to Sell Schrader Business, Report Sources

Sources close to the company say that Tomkins, acquired by Canada’s Onex and the Canada Pension Plan Investment Board only last year, is looking to sell its Schrader business, makers tire pressure monitoring system, reports Reuters.
Tomkins was purchased last year for about $5 billion. According to reports, the Schrader business would command less than $1 billion.
Canada’s biggest private equity firm, Onex, and the Canada Pension Plan Investment Board (CPPIB) bought Tomkins Plc for $5 billion including debt late last year, in one of 2010’s largest leveraged buyouts. Tomkins also owns the Gates rubber business.

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