Ropes & Gray Advises Altus Power in Closing its Business Combination with CBRE Acquisition Holdings; Shares to Begin Trading on NYSE
Ropes & Gray advised Altus Power, a Connecticut-based clean electrification company, in closing its business combination with CBRE Acquisition Holdings, Inc., a blank-check company. Shares of the combined company are expected to begin trading on the New York Stock Exchange on Dec. 10, 2021. The transaction closed on Dec. 9. The press release is here.
Altus Power, based in Stamford, Connecticut, is creating a clean electrification ecosystem, serving its commercial, public sector and community solar customers with locally sited solar generation, energy storage, and EV-charging stations across the U.S. CBRE Acquisition Holdings is sponsored by CBRE Acquisition Sponsor, LLC, a subsidiary of Dallas-based CBRE Group, Inc., the world's largest commercial real estate services and investment firm based on 2020 revenue.
The Ropes & Gray team that advised Altus Power was led by private equity and M&A partner Carl Marcellino (New York), and included benefits partner Loretta Richard, tax partner Elaine B. Murphy (both of Boston), private equity associates Jessica Cooney and Michael Youn (both of New York), and senior mergers & acquisitions attorneys Elizabeth Corey (New York) and Daniel Fine (Boston).