Simpson Thacher represented Gates Industrial Corporation plc (“Gates”) in connection with a secondary offering of ordinary shares by certain selling shareholders affiliated with The Blackstone Group Inc. The offering of 25,300,000 ordinary shares of Gates, which included the full exercise of the underwriters’ option to purchase 3,300,000 additional shares, raised $380 million in gross proceeds, with the selling shareholders receiving all of the proceeds from the offering.
Gates, a portfolio company of The Blackstone Group 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 included Edgar Lewandowski, Jon Ozner, Ben Heriaud and Nicholas Halliburton (Capital Markets); Clare Gaskell and Vishaal Patel (Corporate – London); Andrew Purcell (Tax – New York); Yash Rupal and Ellie Verran (Tax – London); Greg Grogan, Jeannine McSweeney and Jason Fixelle (Executive Compensation and Employee Benefits); Brian Gluck and Catherine Burns (Credit); Melanie Jolson (IP); Adeeb Fadil and Noreen Lavan (Environmental); and James Rapp and Joia Lee (Public Company Advisory Practice).