Products
  • Products
  • Content

    Gates Announces Secondary Offering of 25,000,000 Ordinary Shares

    Aug 10, 2021
     

    DENVER, Aug. 10, 2021 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates") announced today that certain selling stockholders affiliated with The Blackstone Group Inc. have commenced a secondary offering of 25,000,000 of Gates' ordinary shares. In connection with the offering, the selling stockholders intend to grant to the underwriters a 30-day option to purchase up to 3,750,000 additional ordinary shares.

    Gates is not offering any ordinary shares in the offering and will not receive any proceeds from the sale of ordinary shares in this offering. Citigroup and Evercore ISI are serving as the joint lead book-running managers of, and as representatives of the underwriters for, the offering.

    The offering of these securities is being made pursuant to an effective shelf registration statement. The offering will be made only by means of a prospectus. A copy of the prospectus relating to these securities may be obtained, when available, from: Citigroup, Attn: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); or Evercore Group L.L.C., Attn: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055 (Tel: 888-474-0200) or by email at [email protected].

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Gates:
    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 ("first-fit") manufacturers as specified components. Gates participates in many sectors of the industrial and consumer markets. Our products play essential roles in a diverse range of applications across a wide variety of end markets ranging from harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation. Our products are sold in 128 countries across our four commercial regions: the Americas; Europe, Middle East & Africa; Greater China; and East Asia & India.

    ForwardLooking Statements and Information:
    This press release contains forward-looking statements, which involve risks and uncertainties. Forward-looking statements include all statements that are not historical facts. In some cases you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Forward-looking statements are based on the Company's current expectations and actual results may differ materially. Other risks and uncertainties are more fully described in the section entitled "Item 1A. Risk Factors" of the Company's Annual Report on Form 10-K for the fiscal year ended January 2, 2021, as filed with the Securities and Exchange Commission (the "SEC"), as such factors may be updated from time to time in the Company's periodic filings with the SEC. Investors are urged to consider carefully the disclosure in our filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Gates undertakes no obligation to update or supplement any forward-looking statements as a result of new information, future events or otherwise, except as required by law.

     

    SOURCE Gates Industrial Corporation plc

    Latest Insights

    • The Importance of Hydraulic Hose Size

      June 11th, 2021 - The adverse effects of replacing a hydraulic hose with the incorrect size. Suppliers of hydraulic hose assemblies will face this common scenario... 

      Read More

    • Coming Together: Hose-Coupling Interfaces

      June 3, 2021 - Hydraulic hose assemblies are an integral part of a hydraulic system, withstanding thousands of psi of fluid pressure, powering the articulating arms of mobile construction equipment, the hydraulic ram of a 100-tom hydraulic press, and many other heavy-duty applications. 

      Read More

    • Incremental Revenue Stream: Hydraulics

       April 1, 2021 - Hydraulics is a high-value, high-opportunity segment with significant usage from traditional industrial supply customers. Hoses and coulings are major replacement items in hydraulic systems and must always be replaced together...

      Read More