Davis Polk advised the representatives of the underwriters in connection with Gates Industrial Corporation plc’s initial public offering of 38,500,000 ordinary shares, at $19.00 per share, for total gross proceeds of $731.5 million. The ordinary shares are traded on the New York Stock Exchange under the symbol “GTES.”
Gates, headquartered in Denver, Colorado, is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions.
Its products are used in applications across numerous end markets, which include construction, agriculture, energy, automotive, transportation, general industrial, consumer products and many others. Gates is an industry leader across most of the regions and end markets in which it operates.
The Davis Polk corporate team included partners Michael Kaplan and Marcel Fausten and associates Roshni Banker Cariello, Brandon Une and Jacqueline Marino.
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European counsel Jamie Corner advised as to matters of U.K. law.
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Partners Po Sit and Jonathan Cooklin and associate Dominic Foulkes provided U.S. and U.K.
tax advice. Counsel Marcie A.
Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York and London offices.