Chief Executive Officer & Director, Gates Industrial
Search every verified Ivo Jurek interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Ivo Jurek, CEO of Gates Industrial, participated in two interviews on September 17, 2024, at the New York Stock Exchange, where the company rang the opening bell and held a capital markets day. Jurek stated that Gates had approximately $3.6 billion in revenue in 2023 and serves every aspect of the industrial economy, manufacturing power transmission belts and fluid power products. He noted that automotive revenue represents about 25% of the company, with 75% coming from industrial applications. Jurek said the company has been an innovator in materials science for over 113 years and has continued to invest in that area under Blackstone ownership. Jurek discussed several growth opportunities, including replacing industrial chains with engineered rubber belts and supplying cooling technology for hyperscale data centers. He described the industrial economy as "somewhat muted" with the manufacturing index in contraction for over 16 months, but said Gates' revenue remains robust and the company is taking market share. Jurek characterized the U.S. economy as "reasonably robust" and noted strong performance in Europe and Latin America. He described Gates as a "high quality asset" with high free cash flow generation and high margins, suggesting that the exit of private equity ownership creates a good entry point for investors.
“Gates about 3.6 billion of Revenue in 2023 we serve every aspect of industrial economy so we manufacture products in power transmission belts and mechanical components that power things around the industrial economy.”
“We have been an innovator in Material Science for over 113 years. It is the legacy of a company from the founder Charles C Gates and we have continued to invest particularly under the Blackstone ownership and the management team that we have brought focused on investments in Innovation and Material Science.”
“We are taking our highly engineered rubber belts and metal components and replacing old dirty rusty chains that need lubrication. Material Science plays a significant role in how we can drive our future forward and attach ourselves to an economy that's evolving every day.”
“Industrial and Mobility chain to Belt is a very large market where we compete with non-traditional competitors like industrial chain. We drive that innovation through ecologically more sound solutions offering our customers productivity boost and helping with challenging demographics in the workplace.”
“We are very excited about AI and the digitization of the global economy and the buildout of hyperscale data centers. We have launched new technology in cooling and thermal management water pumps that go into those hyperscale data centers that require water cooling and our fluid conveyance products, our hoses that go in...”
“We have gone post pandemic through some really interesting disruptions and the organization and company, our team through material science and through innovation and engineering has been able to further strengthen our business.”
“Automotive revenue represents about 25% of the overall company, so 75% comes out of industrial applications, and we do everything from offering efficient part transmission, HVAC, industrial automation, logistics and warehousing distribution centers in our fluid power and fluid convinced products.”
“The manufacturing index has been in contraction for over 16 months, but the revenue stream for our company remains robust. We continue to take market share and have lots of secular drivers for revenue.”
“The economy in the United States is actually reasonably robust. We have seen very strong performance in our businesses in Europe and Latin America, including Brazil, showing strength across the industrial economy globally.”
“The green energy revolution is happening and we participate in mining lithium and building factories to convert lithium into batteries powering vehicles from General Motors and Ford, as well as automation and energy extraction.”
“Construction in the United States remains reasonably robust with infrastructure build starting to occur, which benefits us greatly due to the consumption of products that support that move.”
“We believe that this is a high quality asset. We have been dealing with private equity ownership that is exiting, so we believe that's a really good impetus for others to own these shares.”
“This is a quality company with high free cash flow generation, high growth margins, and high beta margins, making it a good point of entry for a high quality asset with undemanding valuation.”
Gates Corporation CEO Ivo Jurek discusses how their materials science innovation sets them apart and the key growth ...
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