TPG Rise Climate and KKR Close Transaction for Strategic Investment in A-Gas
LONDON, UK: December 14, 2023 - TPG Rise Climate and KKR have today confirmed the successful completion of the previously announced investment in A-Gas, following the receipt of all regulatory approvals.
In August 2023, A-Gas announced that its existing owners, including majority owner KKR, had entered into a definitive agreement to sell a majority stake in the company to TPG Rise Climate, the dedicated climate investing strategy of TPG’s global impact investing platform, TPG Rise. 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.
“We are looking forward to working with both TPG Rise Climate and KKR as we continue on the next step of our sustainability journey, further growing our lifecycle refrigerant management solutions worldwide,” comments Jack Govers, Chief Executive Officer, A-Gas Group, “This strategic partnership will enable us to significantly accelerate our growth into new markets and geographies, continue to develop new sustainability-driven capabilities, and build our market leadership globally.”
The transaction marks a full exit for minority investor, LDC, following a successful 12-year strategic partnership.
About A-Gas Group
A‑Gas is the world leader in the supply and lifecycle management of refrigerants and associated products and services. Through our first-class recovery, reclamation, and repurposing processes, we capture refrigerants and fire protection gases for future re-use or destruction, preventing their harmful release into the atmosphere.
For over 30 years, A-Gas has supported our clients and partners on their environmental journey by supplying lower global warming gases and actively increasing the circularity of the industries we serve, building a sustainable future.
For more information, please visit www.agas.com
About TPG Rise Climate
TPG Rise Climate is the dedicated climate investing strategy of TPG’s $18 billion global impact investing platform TPG Rise. TPG Rise Climate pursues climate-related investments that benefit from the diverse skills of TPG’s investing professionals, the strategic relationships developed across TPG’s existing portfolio of climate-focused companies, and a global network of executives and advisors. The fund takes a broad-based sector approach to investment types, from growth equity to value-added infrastructure, and focuses on climate solutions in the following thematic areas: clean electrons, clean molecules and materials, and negative emissions. Jim Coulter, TPG Founding Partner and Executive Chairman, serves as Managing Partner of TPG Rise Climate. Former U.S. Treasury Secretary Hank Paulson serves as TPG Rise Climate’s Executive Chairman.
For more information, please visit www.therisefund.com/tpgriseclimate
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
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