Baird's Investment Banking Group is pleased to announce the following transaction:

August 2021
Gates Industrial Corporation
Follow-on Offering
Baird served as a bookrunner on this offering
$460.000 Million

Gates Industrial Corporation (“Gates” or the “Company”) (NYSE: GTES) recently completed a follow-on offering of 28,750,000 common shares, including the exercise in full of the underwriters' overallotment option, at a price of $16.00 per share, generating gross proceeds of approximately $460.0 million. The selling stockholder, The Blackstone Group Inc. (“Blackstone”), will receive all of the net proceeds from the offering.

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, with the majority of its revenue coming from replacement channels. The Company’s products are used in applications across numerous end markets, including off-highway end markets such as construction and agriculture, on-highway end markets such as transportation, diversified industrial, energy, automotive, consumer products and many others. Gates sells its products globally under the Gates brand, which is recognized by distributors, equipment manufacturers, installers and end users as a premium brand for quality and technological innovation. Gates is incorporated in the United Kingdom.

Blackstone is one of the world’s leading investment firms, seeking to create positive economic impact and long-term value for investors, the companies they invest in, and the communities in which they work. Blackstone’s $684 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Blackstone is headquartered in New York, New York.

For additional information about this transaction, please contact:

Justin Holsen +1-414-298-7768
Adam Czaia +1-414-298-7358
Ryan Engelhardt +1-414-298-2637
Tom Lacy +1-414-298-7648
Drew Prekop +1-414-298-1738
Thomas Fetzer +49-69-1301-4920