NEW YORK (Standard & Poor's) April 6, 2006--Standard & Poor's Ratings Services said today that it assigned its 'B+' corporate credit rating to Sensata Technologies B.V., a global manufacturer of customized, engineered sensors and controls. The company, which is domiciled in the Netherlands, has executive headquarters in Attleboro, Mass. Sensata, formerly the S&C business of Texas Instruments Inc., is being acquired by Bain Capital LLC, a coinvestor, and by Sensata management. Proceeds from a bank credit facility and note offerings, together with $985 million of cash equity, will be used to acquire the firm for $3 billion. The purchase price represents a 9.9x EBITDA purchase price multiple based on the company's pro forma 2005 adjusted EBITDA plus fees and expenses....
Companies mentioned in this report are:
- Sensata Technologies B.V.
Action: New Rating
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Research type: News
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