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TPG Rise Climate acquires majority stake in A-Gas but KKR remains involved

Major shareholders of global refrigerant specialist A-Gas have reached an agreement to sell a majority stake in the company to TPG Rise Climate, the climate investing platform of TPG Rise.

The transaction is expected to be completed by the end of 2023, subject to customary closing conditions and regulatory approvals. Current major shareholder KKR will retain a significant minority stake and continue collaborating with TPG Rise Climate and the A-Gas leadership team.

A-Gas has been a pioneer in refrigerant recovery and reclamation for over 30 years. Its closed-loop system prevents the release of harmful gases into the atmosphere. The company says that in 2022 alone, it effectively abated approximately eight million metric tonnes of CO2e, equivalent to removing more than 1.6m cars from the roads for a year.

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