Altus Power Announces Acquisition Agreement with TPG
Deal News | Feb 06, 2025 | TPG
Altus Power, Inc., the largest owner of commercial-scale solar in the United States, announced it has entered into a definitive agreement to be acquired by TPG through its TPG Rise Climate Transition Infrastructure strategy. The all-cash transaction values Altus Power at approximately $2.2 billion, including outstanding debt. As part of the agreement, Altus Power's Class A common stock, currently listed on the New York Stock Exchange under the ticker AMPS, will be delisted, transitioning the company into a privately-held entity upon transaction completion. Altus Power, headquartered in Stamford, Connecticut, provides end-to-end solar solutions and clean electric power to a diverse range of customers, including commercial, industrial, public sector, and community solar clients. TPG's acquisition underscores its commitment to climate-focused investments. Investors and security holders are advised to obtain relevant documents and information from the Securities and Exchange Commission or Altus Power's investor relations for further details.
Sectors
- Renewable Energy
- Private Equity
Geography
- United States – Altus Power, the target company, is based in Stamford, Connecticut, and operates nationally across the U.S.
Industry
- Renewable Energy – The central focus of the article is Altus Power, a company heavily involved in providing solar energy solutions.
- Private Equity – TPG, a major private equity firm, is acquiring Altus Power as part of its investment strategy in climate transition infrastructure.
Financials
- $2.2 billion – Total valuation of the acquisition deal, including outstanding debt.
- $5.00 per share – The share price for Altus Power's Class A common stock in the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Altus Power, Inc. | Target Company | Company | The largest owner of commercial-scale solar in the U.S., offering clean power solutions. |
| TPG | Bidding Company | Company | A global private equity firm acquiring Altus Power through its climate-focused investing strategy. |