Altus Power Acquired by TPG for $2.2 Billion
Deal News | Apr 16, 2025 | Altus Power Management LLC
TPG has completed the acquisition of Altus Power, a solar energy provider, for $2.2 billion in a take-private deal that includes cash and debt. This acquisition was executed through TPG's Rise Climate Transition Infrastructure, reflecting a significant capital investment in the solar energy sector. The purchase price for Altus shareholders is set at $5 per share. Despite the positive outlook, the solar sector faces potential challenges from grid backlogs and federal policy changes. Altus Power, based in Stamford, Connecticut, focuses on community and industrial-scale solar projects. This acquisition is part of a larger trend in the commercial, industrial, and community solar sectors, where private equity firms are increasingly active in M&A activities.
Sectors
- Renewable Energy
- Private Equity
Geography
- United States – Altus Power is based in Stamford, Connecticut, and TPG operates in the U.S.
Industry
- Renewable Energy – Altus Power operates in the renewable energy sector, focusing on solar energy installations.
- Private Equity – The article involves TPG, a private equity firm, in the acquisition of Altus Power.
Financials
- $2.2 billion – Purchase price for the acquisition of Altus Power by TPG.
- $5 per share – Amount received by shareholders of Altus Power.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Altus Power | Target company | Company | A solar energy provider that installs, owns, and operates community- and industrial-scale solar energy sites. |
| TPG | Bidding company | Company | A private equity firm that acquired Altus Power through its Rise Climate Transition Infrastructure. |