Gardner Denver’s $950 Million Initial Public Offering


Simpson Thacher represented Gardner Denver Holdings, Inc. (“Gardner Denver”), a portfolio company of Kohlberg Kravis Roberts & Co. L.P., in connection with its initial public offering of common stock.

The offering of 47,495,000 shares of common stock, which included the underwriters’ option to purchase 6,195,000 additional shares, raised approximately $950 million in gross proceeds. The shares of Gardner Denver are now listed on the New York Stock Exchange under the ticker symbol “GDI.” Gardner Denver expects to use the proceeds of the initial public offering to repay existing indebtedness and to pay certain expenses related to the offering.

Goldman Sachs & Co. LLC, Citigroup, KKR Capital Markets, UBS Investment Bank, Simmons & Company International (Energy Specialists of Piper Jaffray), Deutsche Bank Securities, Baird, Credit Suisse and Morgan Stanley acted as bookrunners of the offering, and William Blair, Stifel, HSBC, Macquarie Capital, Credit Agricole CIB and Mizuho Securities acted as co-managers of the offering.

Gardner Denver is a leading global provider of mission-critical flow control and compression equipment and associated aftermarket parts, consumables and services, which it sells across multiple attractive end-markets within the industrial, energy and medical industries. Gardner Denver supports its customers through its global geographic footprint of 37 key manufacturing facilities, more than 30 complementary service and repair centers across six continents, and approximately 6,100 employees worldwide.

The Simpson Thacher team included Richard Fenyes (Picture), Brian Rosenzweig, Katerina Kousoula, Erica Lee and Javier Rivera-Alvarado (Capital Markets); Jennifer Nadborny and Amanda Weiss (Public Company Advisory Practice); David Rubinsky and Patricia Adams (Executive Compensation and Employee Benefits); Mark Pflug and Meredith Hunt (M&A); Nancy Mehlman and Jodi Schneider (Tax); James Cross, Matthew Farrell and Erika Herman (Credit); Adeeb Fadil and Tim Mulvihill (Environmental); Genevieve Dorment and Lawrence Huang (Intellectual Property); and Jennie Getsin (FINRA). Associates Niyati Roy and Sung Jin and Summer Associate Edward Grais also provided valuable assistance.

Involved fees earner: Richard Fenyes – Simpson Thacher & Bartlett; Brian Rosenzweig – Simpson Thacher & Bartlett; Katerina Kousoula – Simpson Thacher & Bartlett; Erica Lee – Simpson Thacher & Bartlett; Javier Rivera-Alvarado – Simpson Thacher & Bartlett; Jennifer Nadborny – Simpson Thacher & Bartlett; Amanda Weiss – Simpson Thacher & Bartlett; Niyati Roy – Simpson Thacher & Bartlett; Sung Jin – Simpson Thacher & Bartlett; David Rubinsky – Simpson Thacher & Bartlett; Patricia Adams – Simpson Thacher & Bartlett; Mark Pflug – Simpson Thacher & Bartlett; Meredith Hunt – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Jodi Schneider – Simpson Thacher & Bartlett; James Cross – Simpson Thacher & Bartlett; Matthew Farrell – Simpson Thacher & Bartlett; Erika Herman – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Lawrence Huang – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Gardner Denver;

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Author: Ambrogio Visconti