TPG, through its TPG Rise Climate Transition Infrastructure strategy, has acquired Altus Power, a commercial-scale provider of clean electric power.
The all-cash transaction valued Altus Power at approximately $2.2 billion, including outstanding debt. As a result of the deal, Altus Power is now a privately held company.
Under the terms of the transaction, Altus Power stockholders will receive $5 in cash, without interest and minus any applicable withholding taxes, for each share of Altus Power Class A common stock owned immediately prior to the closing of the transaction.
“As demand for power continues to rise, businesses, utilities and communities are desperate for scalable grid-enhancing solutions that generate incremental power in locations where it’s needed,” said Gregg Felton, CEO of Altus Power. “We expect this partnership to strengthen our ability to deliver clean energy faster and at greater scale, positioning Altus to lead the next phase of clea
