Altus Power to be Acquired by TPG in $2.2 Billion Deal

Deal News | Feb 06, 2025 | TPG

Altus Power, Inc., a leading U.S. provider of commercial-scale clean electric power, has announced its agreement to be acquired by TPG, a global private equity firm. The acquisition, which is structured through TPG's Rise Climate Transition Infrastructure strategy, is an all-cash transaction valuing Altus Power at approximately $2.2 billion, inclusive of outstanding debt. Upon closing, Altus Power's Class A common stock will cease trading on the NYSE, transitioning the company to a privately-held status. Altus Power, headquartered in Stamford, Connecticut, offers extensive end-to-end solar solutions across commercial, industrial, and public sectors. TPG, known for its investment focus on sustainability, enhances its climate-focused portfolio with this acquisition. Investors can access detailed information on the transaction via the SEC and company websites.

Sectors

Renewable Energy
Private Equity

Geography

United States – Altus Power is the largest commercial-scale solar provider in the U.S., and the transaction involves companies operating within the United States.

Industry

Renewable Energy – The article discusses Altus Power, a provider of commercial-scale solar power solutions, which positions it within the renewable energy sector.
Private Equity – TPG's acquisition of Altus Power involves private equity investment through the TPG Rise Climate strategy.

Financials

$2.2 billion – The total valuation of Altus Power in the acquisition by TPG, including outstanding debt.
$5.00 per share – The cash offer per share for Altus Power's Class A common stock in the acquisition.

Participants

Name	Role	Type	Description
Altus Power, Inc.	Target	Company	Altus Power is a leading provider of commercial-scale solar solutions in the United States.
TPG	Buyer	Company	TPG is a global private equity firm, acquiring Altus Power through its Rise Climate Transition Infrastructure strategy.