Gates Industrial $460 million secondary offering
Davis Polk advised the representatives of the underwriters on the $460 million SEC-registered offering by certain shareholders of Gates Industrial Corporation plc (“Gates”) of 28.75 million of Gates’ ordinary shares.
Gates is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. It offers a broad portfolio of products to diverse replacement channel customers, and to original equipment manufacturers as specified components. Gates participates in many sectors of the industrial and consumer markets. Its 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.
The Davis Polk corporate team included partner Michael Kaplan and associates Yoojin Nairn-Kim, David Li and Javier Felix. Partner Dan Hirschovits and European counsel John Taylor provided U.K. corporate advice. Partner Po Sit provided U.S. tax advice. Partner Jonathan Cooklin provided U.K. tax advice. Partner Frank J. Azzopardi provided advice relating to intellectual property. Members of the Davis Polk team are based in the New York and London offices.