A-Gas, a supplier and lifecycle manager of refrigerant gases, has announced that its owners, including majority owner KKR, have entered into a definitive agreement to sell a majority stake in the company to TPG Rise Climate, the dedicated climate investing strategy of TPG’s global impact investing platform, TPG Rise.
KKR will remain a significant minority shareholder in the business, continuing to work in collaboration with TPG Rise Climate and the A-Gas leadership team. The transaction is expected to be completed by the end of 2023, subject to customary closing conditions, including certain regulatory approvals.
Additional terms of the transaction were not disclosed.
A-Gas has been at the forefront of capturing refrigerant gas for future re-use or safe destruction, creating a closed-loop system that prevents harmful release to the atmosphere. The company’s proprietary gas separation and recovery technology effectively abated about 8 million metric tonnes of