Chicago equity firm buying TPMS-maker Schrader Intl.

ERJ staff report (TB)

Chicago, Illinois — An affiliate of Chicago-based private equity firm Madison Dearborn Partners L.L.C. has agreed to buy the Schrader International tyre valve and associated products business of Pinafore Holdings B.V. for about $505 million.

The Schrader division manufactures tyre pressure monitoring systems (TPMS), valve products and tyre hardware and related accessories for both OE and aftermarket customers, according to Pinafore Holdings, formerly known as Tomkins P.L.C.

The Schrader division had fiscal year 2011 sales of about $451 million and adjusted pre-tax operating income…

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