Gates Industrial Corporation plc Announces Pricing of Initial Public Offering

DENVER, Jan. 24, 2018­ /PRNewswire/ -- Gates Industrial Corporation plc ("Gates" or "the Company") (NYSE: GTES), a global manufacturer of products used in many sectors of the industrial and consumer markets, announced today the pricing of its initial public offering of 38,500,000 of its ordinary shares at a price to the public of $19.00 per share.  Gates has granted the underwriters a 30-day option to purchase up to an additional 5,775,000 ordinary shares.  The ordinary shares are expected to begin trading on the New York Stock Exchange on January 25, 2018 under the symbol "GTES." The offering is expected to close on January 29, 2018, subject to customary closing conditions.

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 offering of these securities is being made only by means of a prospectus. When available, copies of the prospectus relating to the 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 relating to these securities was filed with, and declared effective by, the Securities and Exchange Commission. 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.

Forward-Looking Statements

This press release contains forward-looking statements. 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. These forward-looking statements include any statements regarding the commencement of trading of the Company's ordinary shares on the New York Stock Exchange. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include but are not limited to those described under "Risk Factors" in the Company's registration statement relating to the initial public offering. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the registration statement. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

Contact

Bill Waelke
(303) 744-4887
[email protected]

SOURCE Gates Industrial Corporation plc