PE-backed Tomkins to sell tyre business

Tomkins, a global engineering and manufacturing business based in the UK, has put Barclays Capital in charge of the sale of its tyre technology unit according to The Telegraph.

The division, based in Northern Ireland, produces pressure monitoring systems, which have become more important to the automobile industry in recent years due to increased regulation. The firm's customers includes Nissan, GM and Fiat.

Tomkins was taken private by Axa Private Equity and Onex Partners in July 2010. The deal was valued at £2.9bn, with debt of £1.9bn.

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• Topics
• Consumer
• UK / Ireland
• Exits
• Axa Private Equity
• Onex Partners
• Barclays