Simpson Thacher is representing KKR in connection with its disposal of a majority stake in A-Gas to TPG Rise Climate. 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 subject to customary closing conditions and is expected to complete by the end of 2023.
A-Gas is the global leader in the supply and lifecycle management of refrigerant gases, with a long history of being at the forefront of refrigerant gas recovery and reclamation. Since KKR’s acquisition, which was made through KKR European Fund IV in 2017, A-Gas has grown revenue by 14% and EBITDA by 18% on average annually.
The Simpson Thacher team includes Mark Pflug, Clare Gaskell, James Campisi, Sean Macdonald and Sam Moon (Corporate); Étienne Renaudeau, Henry Llewellyn, Susanna Breslin and Michael Tagliavini (Antitrust); Shahpur Kabraji and Kwasi Mills-Bampoe (Credit); and Sarah Lindley, William Smolinski, Meredith Jones and Phoebe Adams (Tax).