Madison Dearborn Partners has agreed to sell Schrader to Sensata Technologies (NYSE: ST) for a total enterprise value of $1 billion. Barclays Bank and Morgan Stanley Senior Funding have committed to provide debt financing for the deal, which is expected to close in 4Q. Employing 2,500 globally, with manufacturing facilities in the U.S., U.K., France, Brazil and China, Schrader makes sensing and valve solutions for automotive and industrial applications. It is expected to generate approximately $550 million in revenue in 2014. Madison Dearborn acquired Schrader for $505 million in April 2012.