– Partners Group, GIC, TPG Rise Climate, and Mubadala will invest in Techem, a provider of digitally enabled solutions for the real estate sector.
– The transaction values Techem at approximately EUR 6.7 billion in enterprise value.
– Following the deal, Partners Group’s Infrastructure business will hold a controlling stake in Techem on behalf of its clients.
– The transaction is expected to close in H2 2025, subject to customary conditions and regulatory approvals.
– Techem was founded in 1952 and is headquartered in Eschborn, Germany.
– The company provides energy services such as resource management, residential health, building efficiency, and energy contracting.
– Techem has over 440,000 customers in 18 countries and services more than 13 million dwellings.
– The company has approximately 62 million devices installed worldwide.
Techem’s submetering services support fair cost allocation and reduce energy consumption and CO2 emissions.
– The real estate sector contributes to about 40% of global CO2 emissions, making Techem’s services critical to decarbonization efforts.
– In 2018, Techem was acquired by a consortium led by Partners Group’s Private Equity business, alongside La Caisse (Caisse de dépôt et placement du Québec) and Ontario Teachers’ Pension Plan.
– Under their ownership, Techem’s revenue surpassed EUR 1 billion and EBITDA grew by around 50%.
– The current ownership group will fully exit as part of the new transaction.
– The new investor group aims to strengthen Techem’s position as a digital-first submetering leader in Europe.
– Planned initiatives include further digitalizing operations, adding smart meters, and enhancing digital services for building efficiency.
– Techem is well positioned to benefit from global trends in energy efficiency, stricter regulations, corporate decarbonization goals, and rising energy costs.
– David D. of Partners Group emphasized continued support for Techem’s decarbonization potential with the new consortium.
– Matthias Hartmann, CEO of Techem, welcomed the new ownership as combining continuity with fresh momentum.
– Chin Hau Boon of GIC highlighted Techem’s unique ability to improve energy efficiency in real estate.
– Edward Beckley of TPG Rise Climate praised Techem’s role in Europe’s decarbonization journey.
– Abdulla Mohamed Shadid of Mubadala reaffirmed the importance of energy-efficient buildings and called Techem a trusted provider with a digital edge.
– Partners Group’s Infrastructure business currently manages USD 27 billion in assets globally.