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

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.