.
MergerLinks Header Logo

Announced

Completed

Altus Power went public via a SPAC merger with CBRE Acquisition in a $1.58bn deal.

Financials

Edit Data
Transaction Value£649m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales20x
EV/EBITDA36x
Share Price Premium-
One Off Charge-

Tags

Edit

Single Bidder

De-SPAC

Private Equity

Domestic

Renewable Energy Equipment

Private

United States

Majority

Reverse Takeover

clean energy

Friendly

renewable energy

Acquisition

Merger

Completed

Synopsis

Edit

Altus Power, a clean electrification company, went public via a SPAC merger with CBRE Acquisition, a blank cheque company, in a $1.58bn deal. The deal includes a $275m PIPE from CBRE Group, Blackstone Credit, ValueAct Capital and Liberty Mutual Investments. “This transaction will deliver the financial and strategic resources to accelerate Altus Power’s growth plan and drive long-term shareholder value creation. CBRE is excited to help Altus Power bring its clean energy solutions and expertise to support our clients in reducing their carbon footprint and meeting their other sustainability goals. This is an increasingly urgent imperative for real estate occupiers and investors alike,” Bill Concannon, CBRE Acquisition CEO. On December 6, 2021, CBRE announced shareholder approval for the acquisition.

© COPYRIGHT 2024 MERGERLINKS LIMITED.

ALL RIGHTS RESERVED.

15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.

CONTACT US