What Gates Corporation makes

Gates Corporation is a global manufacturer of power transmission and fluid power products, and it runs its business in two reportable segments. The Power Transmission segment builds belts and the systems around them: synchronous and timing belts, V-belts, micro-V and serpentine belts, tensioners, pulleys, and the carbon-fiber belt drives Gates markets for bicycles and light electric vehicles. The Fluid Power segment builds hydraulic and industrial hose, couplings, connectors, and finished hose assemblies. Gates invented the V-belt in 1917, and belts remain the center of the company.

Gates sells into three channels that behave very differently. It supplies original equipment manufacturers as a first-fit Tier 1 and Tier 2 supplier on automotive and off-highway programs, it supplies the automotive replacement aftermarket where its brand carries a premium, and it supplies industrial end markets across energy, agriculture, construction, mining, and general manufacturing. That channel mix matters to a buyer: roughly two-thirds of revenue is replacement demand, which is steadier than first-fit build rates and less exposed to a single OEM's production plan.

The product is materials science more than metalwork. Gates develops rubber compounds, fabrics, and reinforcement systems and engineers them into parts that carry load and manage heat for years. The company describes itself as one of the largest manufacturers of non-tire rubber products in the world, and it holds a large patent portfolio behind its belt and hose designs.

Financial performance

Gates reported net sales of $3,408.2 million for full-year 2024, down 4.5% from the prior year, with a core sales decline of 3.5% on soft industrial demand. Adjusted EBITDA was $761.1 million, a 22.3% margin, up from 20.9% a year earlier, so margins expanded even as the top line contracted. Net income attributable to shareholders was $194.9 million. The company generated $379.6 million of operating cash flow and ended the year with about $682 million of cash against roughly $2.4 billion of total debt.

The 2025 trend read as stabilizing rather than declining. Second-quarter 2025 net sales were $883.7 million, essentially flat at down 0.2%, with an adjusted EBITDA margin of 22.5% and adjusted diluted earnings of $0.39 per share. Gates raised its full-year 2025 guidance for adjusted EBITDA and adjusted EPS and pointed to a stretch of gross margin above 40%. For a supplier this size, the pattern of a mid-single-digit revenue dip absorbed without margin damage is the useful signal: it points to pricing discipline and a variable cost base rather than a demand collapse.

Ownership and history

Charles Gates Sr. bought the Colorado Tire and Leather Company in Denver in 1911, and the business grew from tire products into rubber belting and hose over the following decades. Gates was family-run for most of the 20th century, was acquired by the UK engineering group Tomkins in 1996, and was bought by private equity firm Blackstone in 2014 for about $5.4 billion. Gates went public on the New York Stock Exchange in January 2018 under the ticker GTES, as Gates Industrial Corporation plc. Blackstone has steadily reduced its majority position through a series of secondary offerings, including offerings in 2024, moving Gates toward a widely held public float. The operating headquarters remain in downtown Denver.

Gates employs roughly 14,000 people and operates more than 100 locations across about 30 countries. It runs manufacturing joint ventures as well, most visibly Gates Unitta, a long-standing belt-manufacturing partnership in Asia that appears in Gates' own supply flows.

Certifications and quality

Gates supplies automotive OEM programs, which as a rule require IATF 16949 certification of the producing plants, alongside ISO 9001 quality management and, at many sites, ISO 14001 environmental management. Gates presents itself as an OEM-qualified first-fit supplier and runs advanced product quality planning and the production part approval process as part of serving those programs. A consolidated, dated certificate directory for every Gates plant was not machine-readable in this pass, so the certifications here are reported as claims consistent with the OEM programs Gates serves rather than as a single verified document.

Known customers

Gates does not publish a customer list, which is normal for a components supplier working under OEM confidentiality. Its documented commercial relationships come through the channels it serves rather than named-account disclosures.

Gates' strongest documented demand story is structural, not a single logo: about two-thirds of revenue is replacement and aftermarket, which spreads its customer base across distributors and installers rather than concentrating it in a handful of OEM accounts.

Sourcing evidence

Gates appears in US customs bill-of-lading records with roughly 11,810 import shipments on record, with the most recent shipment dated September 17, 2026, so the company is an active, continuous importer. That is expected for a manufacturer that moves belts, hose, components, and raw materials across a global plant network. Named counterparties in the public record include Gates Unitta Power Transmission, the company's own Asian belt-manufacturing joint venture, which is consistent with intercompany flow rather than third-party sourcing, along with component suppliers such as Shanghai Saga Automobile Parts and Hana Industries.

Coverage caveats apply. These are US ocean-freight records only, so air, truck, and rail movements do not appear, and a global manufacturer's true material flows are far larger than its US sea imports. Some manifests name freight intermediaries rather than the producing plant, and declared product categories come from manifest codes that are noisy. Absence of a record is not evidence of absence.

Frequently asked questions

What does Gates Corporation make?

Gates makes power transmission and fluid power products. Its Power Transmission segment produces synchronous, timing, V-, micro-V, and serpentine belts plus tensioners and pulleys, and its Fluid Power segment produces hydraulic and industrial hose, couplings, and hose assemblies. Gates invented the V-belt in 1917 and is one of the largest makers of non-tire rubber products in the world.

Who owns Gates Corporation?

Gates is publicly traded on the New York Stock Exchange as Gates Industrial Corporation plc, ticker GTES. It was family-owned from 1911, sold to Tomkins in 1996, bought by Blackstone in 2014 for about $5.4 billion, and taken public in January 2018. Blackstone has reduced its majority stake through secondary offerings, moving Gates toward a widely held float.

What is Gates Corporation's annual revenue?

Gates reported net sales of $3,408.2 million for full-year 2024, down 4.5% year over year, with an adjusted EBITDA margin of 22.3% and net income of $194.9 million. Second-quarter 2025 sales were roughly flat at $883.7 million, and the company raised its full-year 2025 guidance.

Where is Gates Corporation headquartered?

Gates is headquartered in downtown Denver, Colorado, at 1144 Fifteenth Street. The company operates more than 100 locations across about 30 countries and employs roughly 14,000 people.

Who are Gates Corporation's customers?

Gates serves automotive OEMs as a first-fit supplier, the automotive replacement aftermarket, and industrial end markets including energy, agriculture, construction, and mining. It does not publish a named customer list. About two-thirds of its revenue comes from replacement and aftermarket demand rather than first-fit OEM build rates.

Is Gates still acquiring businesses?

Yes. In May 2026 Gates announced a definitive agreement to acquire the belts business of The Timken Company, a North American belts manufacturer serving industrial and mobility markets, with the transaction expected to close in the third quarter of 2026. The deal broadens Gates' channel and application coverage in industrial OEM, aftermarket, and power sports.

Last verified September 27, 2026. Is this your company? Request a correction.