London—Dentons has advised leading global investment firm KKR and A-Gas on the sale of a majority stake in A-Gas, a global leader in the supply and lifecycle management of refrigerant gases, 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 expected to be completed by the end of 2023, subject to customary closing conditions, including certain regulatory approvals. Dentons advised alongside lead transaction counsel Simpson Thacher & Bartlett.

Launched in the UK in 1993, A-Gas is at the forefront of refrigerant gas recovery and reclamation, effectively lowering potential emissions to the atmosphere. The company has extended its business into vertical markets including on-site Rapid Recovery of refrigerant gas, the safe destruction of legacy gases, and the generation of voluntary and compliance market carbon credits. 

In 2017, Dentons (alongside Simpson Thacher & Bartlett) advised KKR on their acquisition of a majority stake in A-Gas from LDC and management shareholders. 

The Dentons cross-border team advising KKR and A-Gas was led from the UK by Stephen Levy with support from Corporate senior associate Joseph Collingwood, Corporate associates Lara Ali and Alex Macdonald, Corporate trainees Cecilia Donkor and Natasha Cooper and ESG partner Helen Bowdren.

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