Gates Industrial Corporation plc announced 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@example.com.
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.
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.