Gates Industrial, the Denver-based manufacturer of hydraulic hose, tubing, couplings and accessories—as well as other industrial, automotive and power transmission products—filed an Initial Public Offering with the Securities and Exchange Commission (SEC) on December 27th.
The company, formerly known as Gates Rubber, is currently owned by Blackstone, and has grown significantly in the past few years. The IPO reports that the company employed 13,500 workers as of 12/31/16. Gates, with annual sales of about $2.7 billion, may fetch as much as $500 million to $1 billion from the IPO, according to the Denver Post.
Gates, which acquired Atlas Hydraulics of Brantford, Ontario earlier this year, also upgraded its eCrimp mobile app in July. eCripm now has an expanded database of the most current crimping specifications on the latest equipment for hydraulic and industrial hose products.
The company will be listed on the New York Stock Exchange under the ticker symbol GTES.