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 17,250,000 ordinary shares of Gates, which included the full exercise of the underwriter’s option to purchase 2,250,000 additional shares, raised $192 million in proceeds to the selling shareholders.
Gates 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 and Rachel Lerman (Capital Markets); Mimi Cheng, Emma Light, Christina O’Connell and Theodore Schneider (Credit); Clare Gaskell, Vishaal Patel and Sam Moon (Corporate – London); Andrew Purcell and Kris Liu (Tax – New York); Yash Rupal, Sarah Lindley and Phoebe Adams (Tax – London); and Jennifer Nadborny and Bettina Elstroth (Public Company Advisory Practice).