Kirkland Advises TPG on Agreement to Acquire Altus Power
Kirkland & Ellis advised TPG Rise Climate Transition Infrastructure on its definitive agreement to acquire Altus Power, Inc. (NYSE: AMPS), the largest owner of commercial-scale solar in the U.S., for $5.00 per share of its Class A common stock in an all-cash transaction that values the Company at approximately $2.2 billion, including outstanding debt. Upon completion of the transaction, Altus Power’s Class A common stock will no longer be listed or traded on the New York Stock Exchange, and Altus Power will become a privately-held company. By combining TPG Rise Climate’s investment capabilities with Altus Power’s domain expertise in commercial-scale solar, Altus Power believes it will be able to scale its operations more rapidly to meet the surging demand for increased power generation.
The Kirkland team included corporate lawyers Debbie Yee, Patrick Moneypenny and Jessica Berkowitz; debt finance lawyers Rohit Chaudhry, Marten Olsson and Rob Eberhardt; tax lawyers Jared Rusman and Mike Masri; capital markets lawyers Michael Rigdon and Atma Kabad; executive compensation lawyers Rob Fowler and Sally Ye; energy regulatory lawyer Drew Stuyvenberg; and technology & IP transactions lawyer Daisy Darvall.
