Schneider Accepts Carlyle and PAI Offer to Purchase CST
May 16, 2014
Schneider Electric has accepted the binding offer from The Carlyle Group and PAI Partners to acquire Custom Sensors & Technologies, based on an enterprise value of $900 million (around €650 million). As part of the transaction, Schneider Electric will reinvest $100 million to retain a stake of around 30%. CST specializes in sensing, control and motion products, offering components for various systems in several industrial, transportation and aerospace end-markets. Its brands include Crouzet, Crydom, Kavlico, Newall and more. In 2013, CST generated sales of $600 million, and has approximately 4,500 employees in more than 30 countries.