Squire Patton Boggs has acted as co-counsel with Paul, Weiss advising TPG Rise Climate, the dedicated climate investing strategy of TPG’s global impact investing platform, TPG Rise, on a definitive agreement to acquire a majority stake in A-Gas, the global leader in the supply and lifecycle management of refrigerant gases from its owners, including majority owner KKR, the global investment firm.
KKR will remain a significant minority shareholder in the business, continuing to work in collaboration with TPG Rise Climate and the A-Gas Leadership Team. The transaction is expected to be completed by the end of 2023, subject to customary closing conditions, including certain regulatory approvals.
The Squire Patton Boggs team was led by private equity partner Charles Leeming in London, alongside corporate partner Louise Barber in Manchester, with significant input from across the firm’s international network, including the US, Australia, Italy, and Germany.
TPG Rise Climate is the dedicated climate investing strategy of TPG’s $18 billion global impact investing platform TPG Rise. TPG is a leading global alternative asset manager with $139 billion in assets under management.
A Gas is the world leader in the supply and lifecycle management of refrigerants and associated products and services. For over 30 years, through its first-class recovery and reclamation processes, A-Gas has been at the forefront of capturing refrigerant gas for future re-use or safe destruction, creating a closed-loop system that prevents its harmful release to the atmosphere. The company’s proprietary gas separation and recovery technology effectively abated approximately 8 million metric tonnes of CO2e in 2022, the equivalent to removing over 1.6 million cars from the roads for a year.