Altus Power Closes Transaction with TPG [Yahoo! Finance]
Altus Power, Inc. Class A (AMPS)
Company Research
Source: Yahoo! Finance
of clean, electric power, today announced the completion of its acquisition by TPG through its TPG Rise Climate Transition Infrastructure strategy in an all-cash transaction that valued the Company at approximately $2.2 billion, including outstanding debt. As a result of the transaction, Altus Power is now a privately-held company. "The successful close of this transaction marks a pivotal moment for Altus Power, our stockholders, employees and partners. By partnering with TPG Rise Climate Transition Infrastructure, who shares our long-term vision for the future of clean energy, we believe we are unlocking significant value for our stockholders and accelerating our long-term growth strategy," said Gregg Felton, CEO of Altus Power. "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. We expect this partnership to strengthen our ability to delive
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