Sensata Technologies Holding N.V., one of the world’s leading suppliers of sensing, electrical protection, control and power management solutions, agreed to acquire the Schrader companies from Madison Dearborn Partners, the private equity firm.
Schrader makes tire pressure monitoring sensors and related products.
“The acquisition of Schrader extends Sensata’s leadership position in pressure sensing and provides further access to a rapidly growing $2 billion low pressure sensor market where the largest current opportunity is in tire pressure monitoring sensors” said Martha Sullivan, the president and CEO of Sensata Technologies
“While we expect Schrader to be $0.13 to $0.16 dilutive to adjusted earnings per share in 2014, we expect Schrader to be $0.18 to $0.21 accretive in 2015, provide $0.50 to $0.55 of accretion after integration and debt pay-down and provide an additional $0.18 to $0.22 accretion when China ramps adoption” of tire pressure monitoring sensors, Paul Vasington, Sensata’s chief financial officer, said in a statement.
Barclays and Morgan Stanley have committed to provide debt financing for the transaction. Centerview Partners and the law firm Skadden, Arps, Slate, Meagher & Flom advised Sensata Technologies. Schrader International legal advisors are Barclays, Citigroup and Guggenheim Securities and the law firm Kirkland & Ellis.
Mr. Stakebay says:
Sensata expects increasing in company’s revenues 550 million in 2014. This deal have strategic and operational sense for Sensata to grow own business and reaching access to new markets.
President and CEO of Sensata Technologies ……………………………Martha Sullivan…………..(2010-present)………..$ 4 598 230 (2013)
Chairman, President and CEO of Schrader International………………. Hugh Charvat…………….(2010-present)
1.980 billion (2013)
363.481 million (2013)
188.125 million (2013)
3.498 billion (2013)
1.141 billion (2013)