Gates Industrial Corporation’s $460 Million Shares Offering

Simpson Thacher advised Gates Industrial Corporation, while Davis Polk advised the representatives of the underwriters in the offering.

Gates Industrial Corporation announced a secondary offering of ordinary shares by certain selling shareholders affiliated with Blackstone Inc. The offering of 28,750,000 ordinary shares of Gates, which included the full exercise of the underwriters’ option to purchase 3,750,000 additional shares, raised $460 million in gross proceeds, with the selling shareholders receiving all of the proceeds from the offering.

Gates, a portfolio company of Blackstone Inc., is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse replacement channel customers, and to original equipment manufacturers as specified components.

The Simpson Thacher team advising Gates Industrial included Edgar Lewandowski (Picture), Ben Heriaud, Evan Zuckerman and Mari Zaldivar (Capital Markets); Clare Gaskell and Vishaal Patel (Corporate – London); Andrew Purcell and Gurnaina Chawla (Tax – New York); Yash Rupal and Ellie Verran (Tax – London); Jeannine McSweeney (Executive Compensation and Employee Benefits); Brian Gluck (Credit); Melanie Jolson (IP); Adeeb Fadil and Noreen Lavan (Environmental); and Brad Goldberg, Jennifer Nadborny and Joia Lee (Public Company Advisory Practice).

The Davis Polk corporate team advising Citigroup Global Markets Inc. and Evercore Group, L.L.C., as the representatives of the several underwriters, included partner Michael Kaplan and associates Yoojin Nairn-Kim, David Li and Javier Felix. Partner Dan Hirschovits and European counsel John Taylor provided U.K. corporate advice. Partner Po Sit provided U.S. tax advice. Partner Jonathan Cooklin provided U.K. tax advice. Partner Frank J. Azzopardi provided advice relating to intellectual property.

Involved fees earner: Frank Azzopardi – Davis Polk & Wardwell; Jonathan Cooklin – Davis Polk & Wardwell; Javier Felix – Davis Polk & Wardwell; Dan Hirschovits – Davis Polk & Wardwell; Michael Kaplan – Davis Polk & Wardwell; David Li – Davis Polk & Wardwell; Yoojin Nairn-Kim – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell; John Taylor – Davis Polk & Wardwell; Gurnaina Chawla – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Clare Gaskell – Simpson Thacher & Bartlett; Brian Gluck – Simpson Thacher & Bartlett; Bradley Goldberg – Simpson Thacher & Bartlett; Benjamin Heriaud – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Noreen Lavan – Simpson Thacher & Bartlett; Joia Lee – Simpson Thacher & Bartlett; Edgar Lewandowski – Simpson Thacher & Bartlett; Jeannine McSweeney – Simpson Thacher & Bartlett; Jennifer Nadborny – Simpson Thacher & Bartlett; Vishaal Patel – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; Yash Rupal – Simpson Thacher & Bartlett; Ellie Verran – Simpson Thacher & Bartlett; Mari Zaldivar – Simpson Thacher & Bartlett; Evan Zuckerman – Simpson Thacher & Bartlett;

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

Clients: Citigroup Global Markets Ltd; Evercore Inc.; Gates Corporation;

Author: Martina Bellini