Simpson Thacher represented Gates Industrial Corporation plc (“Gates”) in connection with 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 included Edgar Lewandowski, 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 Jennifer Nadborny and Joia Lee (Public Company Advisory Practice).