07:41 AM EST, 02/06/2025 (MT Newswires) -- Altus Power ( AMPS ) said Thursday it has agreed to be bought by TPG (TPG) via its TPG Rise Climate Transition Infrastructure strategy for $5 per Class A common share in an all-cash deal that values Altus Power ( AMPS ) at about $2.20 billion, including outstanding debt.

Altus Power ( AMPS ) will become a privately held company upon deal completion, anticipated in Q2, the company said.

Altus Power ( AMPS ), which will likely maintain its headquarters in Stamford, Connecticut, also said its board has unanimously approved the deal and plans to recommend shareholders to also vote in its favor.