Latham & Watkins Advises Altus Power on Take-Private Acquisition by TPG

Altus Power, Inc. (NYSE: AMPS), the largest owner of commercial-scale solar in the US, announced that it has entered into a definitive agreement to be acquired by TPG through its TPG Rise Climate Transition Infrastructure fund for US$5.00 per share of the company’s Class A common stock in an all-cash transaction that values the company at approximately US$2.2 billion, including outstanding debt. Upon completion of the transaction, Altus Power will become a privately held company.

Latham & Watkins LLP represents Altus Power in the transaction with a corporate deal team led by Houston partner Ryan Maierson and Austin partner Rachel Ratcliffe Payne, with associates Denny Lee, Haley Sandoval, Catherine Sims, Armaan Bhimani, and Greg Bird. Advice was also provided on public company matters by New York partner Keith Halverstam; on tax matters by Houston partner Jim Cole, with associate Molly Elkins; on executive compensation and employee benefits matters by Los Angeles/Orange County partner Michelle Carpenter, with associate Joseph Benedetto; on finance matters by Houston partner Craig Kornreich, with associate Max Fin; on intellectual property matters by New York partner Jeffrey Tochner, with associate Sebastian Moss; on US antitrust matters by Washington, D.C. partner Jason Cruise and New York counsel Jamie Sadler, with associate Seamus Ronan; on environmental matters by Los Angeles partner Joshua Marnitz; on energy regulatory matters by Washington, D.C. partner Natasha Gianvecchio, with associate Richard Griffin; on data privacy matters by Houston counsel Robert Brown, with associate Zac Alpert; and on project development matters by Century City partner Daniel Sinaiko.