Blackstone-backed Gates sets IPO pricing terms

Gates Industrial Corp, a maker of products for the industrial and consumer markets, has priced its IPO of 38.5 million shares at between $18 and $21 per share. The stock will trade on the New York Stock Exchange under the ticker symbol “GTES.” Citigroup, Morgan Stanley and UBS Investment Bank are the lead underwriters. Gates is backed by Blackstone. PRESS RELEASE DENVER, Jan. 12, 2018 /PRNewswire/ –­ Gates Industrial Corporation plc (“Gates” or “the Company”), a global manufacturer of products used in many sectors of the industrial and consumer markets, announced today the launch of its initial public offering of 38,500,000 of its ordinary shares. The initial public offering price is expected to be between $18.00 and $21.00 per share. Gates expects to grant the underwriters a 30-day option to purchase up to an additional 5,775,000 ordinary shares. Gates has been approved to list its
shares on the New York Stock Exchange under the symbol “GTES.” Gates intends to use the net proceeds from the offering primarily to, among other things, repay certain outstanding indebtedness. Citigroup, Morgan Stanley and UBS Investment Bank are acting as joint book-running managers for the offering. Barclays, Credit Suisse, Goldman Sachs & Co. LLC and RBC Capital Markets are also acting as joint bookrunners for the offering. Blackstone Capital Markets, Deutsche Bank Securities, Wells Fargo Securities, Current Capital Securities LLC, KeyBanc Capital Markets, Siebert Cisneros Shank & Co., L.L.C., SunTrust Robinson Humphrey, Academy Securities, BTIG and Guggenheim Securities are acting as co-managers for the offering. The proposed offering of these securities will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the proposed initial public offering may be obtained from: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by phone at (800) 831-9146; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014; or UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019 or by phone at (888) 827-7275. A registration statement, including a prospectus, which is preliminary and subject to completion, relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time that the registration statement becomes effective. 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 Industrial Corporation plc
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.

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