British industrial company Tomkins, which was taken private by Canada's Onex (OCX.TO) and a partner for about $5 billion last year, wants to sell its automotive safety component business Schrader, people familiar with the matter said. Barclays Plc's (BARC.L) Barclays Capital and Goldman Sachs Group (GS.N) are running a sale process for Schrader, which is expected to fetch less than $1 billion in proceeds, these people said. Schrader makes tire pressure monitoring systems, a rapidly growing segment of the auto industry thanks to stronger safety regulations around the world which require automakers to install systems designed to prevent tire failure. Canada's biggest private equity firm, Onex, and the Canada Pension Plan Investment Board (CPPIB), which manages the country's national pension fund, bought Tomkins Plc for $5 billion including debt late last year, in one of 2010's largest leveraged buyouts.
Shares of GS traded higher by 0.05% or $0.07/share to $133.97. In the past year, the shares have traded as low as $129.50 and as high as $175.34. On average, 5697500 shares of GS exchange hands on a given day and today's volume is recorded at 5422617.
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