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 $199 million in aggregate proceeds before expenses, 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, Rachel Lerman and Erin Camia (Capital Markets); Mimi Cheng, Jonathan Lindabury, Jakarri Hamlin, Danielle Robinson and Theodore Schneider (Banking & Credit); Clare Gaskell, Vishaal Patel, Sam Moon and Isabel Lam (Corporate – London); Andrew Purcell and Kris Liu (Tax – New York); Yash Rupal, Sarah Lindley and Phoebe Adams (Tax – London); Jeannine McSweeney (Executive Compensation and Employee Benefits); Noreen Lavan (Environmental); and Jennifer Nadborny, Bettina Elstroth and Brandon Adoni (Public Company Advisory Practice).