Tyre Pressure Monitoring System and valve supplier Schrader has been sold for US$505 million after parent company Tomkins agreed a deal with private equity firm Madison Dearborn Partners, LLC. 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 US$451 million and adjusted EBITDA of approximately US$76 million.