Gates Industrial Corporation plc $731.5 Million Initial Public Offering


Davis Polk advised the representatives of the underwriters in connection with Gates Industrial Corporation plc’s initial public offering of 38,500,000 ordinary shares, at $19.00 per share, for total gross proceeds of $731.5 million.

The ordinary shares are traded on the New York Stock Exchange under the symbol “GTES.”

Citigroup, Morgan Stanley, UBS Investment Bank, Barclays, Credit Suisse, Goldman Sachs & Co. LLC, RBC Capital Markets acted as underwriters.

Gates, headquartered in Denver, Colorado, is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Its products are used in applications across numerous end markets, which include construction, agriculture, energy, automotive, transportation, general industrial, consumer products and many others. Gates is an industry leader across most of the regions and end markets in which it operates.

The Davis Polk corporate team included partners Michael Kaplan (Picture) and Marcel Fausten and associates Roshni Banker Cariello, Brandon Une and Jacqueline Marino. European counsel Jamie Corner advised as to matters of U.K. law. Partners Po Sit and Jonathan Cooklin and associate Dominic Foulkes provided U.S. and U.K. tax advice. Counsel Marcie A. Goldstein provided FINRA advice.

Simpson Thacher represented Gates Industrial Corporation plc with a team including Edgar Lewandowski, Jon Ozner, Ben Heriaud, Ronnie Lim and David Baruch (Capital Markets – New York); Clare Gaskell, Ben Squires and Patrick Scott (Corporate – London); Greg Grogan, Jeannine McSweeney and Jake Phillips (Executive Compensation and Employee Benefits); Brad Goldberg, James Rapp and Shari Ness (Public Company Advisory Practice); Anthony Vernace and David Acquay (M&A); Brian Gluck, Michael Vernace, Jonathan Zane and Bob Zhao (Credit); Gary Mandel and Sophie Staples (Tax); Lori Lesser and Kate Stein (Intellectual Property); and Adeeb Fadil and Noreen Lavan (Environmental). Jeanne Annarumma, Steven DeLott and Jennie Getsin also provided invaluable assistance.

Involved fees earner: Michael Kaplan – Davis Polk & Wardwell; Marcel Fausten – Davis Polk & Wardwell; Roshni Banker Cariello – Davis Polk & Wardwell; Brandon Une – Davis Polk & Wardwell; Jacqueline Marino – Davis Polk & Wardwell; Jamie Corner – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell; Jonathan Cooklin – Davis Polk & Wardwell; Dominic Foulkes – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Edgar Lewandowski – Simpson Thacher & Bartlett; Jonathan Ozner – Simpson Thacher & Bartlett; Benjamin Heriaud – Simpson Thacher & Bartlett; Yun Joo Lim – Simpson Thacher & Bartlett; Clare Gaskell – Simpson Thacher & Bartlett; Ben Squires – Simpson Thacher & Bartlett; Patrick Scott – Simpson Thacher & Bartlett; Bradley Goldberg – Simpson Thacher & Bartlett; James Rapp – Simpson Thacher & Bartlett; Shari Ness – Simpson Thacher & Bartlett; Anthony Vernace – Simpson Thacher & Bartlett; Gregory Grogan – Simpson Thacher & Bartlett; Jeannine McSweeney – Simpson Thacher & Bartlett; Jacob Phillips – Simpson Thacher & Bartlett; Brian Gluck – Simpson Thacher & Bartlett; Michael Vernace – Simpson Thacher & Bartlett; Jonathan Zane – Simpson Thacher & Bartlett; Gary Mandel – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Kate Stein – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Noreen Lavan – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett;

Law Firms: Davis Polk & Wardwell; Simpson Thacher & Bartlett;

Clients: Barclays Bank; Citigroup Inc.; Credit Suisse; Goldman, Sachs & Co.; Morgan Stanley; UBS Investment Bank; RBC Capital Markets; Gates Corporation;

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Author: Ambrogio Visconti