- Together with lead investor, TPG and minority investor, GIC,
Techem will continue to expand and grow its leading position as a
platform for decarbonising and digitising the building sector
- As a trusted partner to the real estate industry, Techem is
making significant contributions to energy efficiency and climate
protection
- Closing of the transaction expected by 1H2025
TPG Rise Climate, the dedicated climate investing strategy of
TPG’s global impact investing platform, and GIC, a leading global
investor, today signed an agreement to acquire Techem Group. The
business will be acquired from its previous majority owner Partners
Group, one of the largest firms in the private markets industry,
acting on behalf of its clients, and co-investors CDPQ and Ontario
Teachers' Pension Plan.
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Techem will be acquired for a total consideration of
approximately €6.7 billion. The transaction is expected to close in
the first half of 2025, subject to customary conditions and
regulatory approvals. The purchase price will be paid in two
instalments, one at close and the remainder in July 2027. TPG Rise
Climate, one of the world’s largest private equity funds dedicated
to investing in global climate solutions, invests in companies that
are driving meaningful decarbonisation at scale. Techem represents
the largest transaction for the fund to-date. GIC is making a
significant minority investment.
Founded in 1952, Techem has built one of the largest digital
energy services platforms in the industry. Techem is active in 18
countries and services more than 13 million dwellings, with over 62
million digital measuring devices on its platform. As a reliable
long-term partner, Techem supports the property sector and private
landlords in improving their energy efficiency, as to reduce energy
consumption, costs and CO2 emissions in a low-investment and
non-invasive manner. Techem's services help to advance the
long-term decarbonisation of the real estate sector, which still
drives approximately 40% of global CO2 emissions.
“With TPG and GIC, we are gaining strong new partners with the
digitisation and platform expertise needed to help us make
significant progress in implementing our corporate strategy.
Together, we want to further expand and advance our position as a
leading platform for digitising and decarbonising the building
sector across Europe and beyond,” said Matthias Hartmann, CEO of
Techem. Reflecting on the development in recent years, he added,
“Techem has become a leading provider of a wide range of digital
solutions with strong growth and a powerful, agile organizational
setup. We are very grateful to Partners Group and its co-investors
CDPQ and Ontario Teachers’ for the trustful exchange and
collaboration on the development of the company over the past years
and look forward to building on our success with TPG and GIC.”
“Techem’s technology, transparent consumption statistics, and
streamlined solutions for tenants, managers, and asset owners alike
are essential solutions for lowering costs and improving the
environmental impact of real estate assets across Europe,” said Ed
Beckley, a London-based Managing Partner of TPG Rise Climate.
“There is a tremendous opportunity to reduce energy consumption in
built environments by enhancing efficiency and better-managing
overall demand. We’re looking forward to supporting the Techem team
in leading and accelerating real estate emissions reductions at
scale.”
Ang Eng Seng, Chief Investment Officer, Infrastructure at GIC,
said: "Techem is a well-established energy service provider with a
proven track record. Sub-metering is becoming increasingly
prevalent in Continental Europe as consumers and regulators focus
on energy efficiency. We look forward to supporting the company’s
continued growth, alongside TPG and management.”
Further expanding Techem’s strong digital platform
As a result of the strong development over the past years,
Techem has exceeded the one-billion-euro revenue mark – with new
digital services and broader decarbonisation services presenting
future growth opportunities.
Techem will build on this foundation with its new partners TPG
and GIC and further expand its “One Digital Platform,” leveraging
the power of digitisation to unlock significant energy efficiency
potential in the building sector, optimize operational processes,
and increase the living comfort of residents.
Techem will also benefit from TPG's expertise in effective
decarbonisation in achieving its own ambitious sustainability
targets, building on the successful efforts of the previous year.
As recently as August, Techem received an outstanding rating of 9.6
– “Negligible Risk” – as part of an ESG risk rating by global ESG
data, research and ratings provider Morningstar Sustainalytics.
This puts Techem in the top 3% of over 16,000 international
companies assessed.
About Techem
Techem is a leading service provider for smart and sustainable
buildings. The company's services cover the topics of energy
management and resource conservation, healthy living and process
efficiency in properties. Founded in 1952, Techem is now active in
18 countries with over 4,000 employees and services more than 13
million dwellings. Techem offers efficiency improvements along the
entire value chain of heat and water in real estate and
regenerative supply concepts and solutions. As a market leader in
remote radio detection of energy consumption in homes, Techem
continues to drive networking and digital processes in real estate.
Modern multi sensor devices, radio smoke detectors with remote
inspection, metering point operation, charging infrastructure for
electromobility and services related to improving drinking water
quality in properties complement the solution portfolio for the
housing as well as the commercial real estate industry. Further
information can be found at www.techem.com
About TPG Rise Climate
TPG Rise Climate is the dedicated climate investing strategy of
TPG’s $19 billion global impact investing platform. TPG Rise
Climate pursues climate-related investments that benefit from the
diverse skills of TPG’s investing professionals, the strategic
relationships developed across TPG’s existing portfolio of
climate-focused companies, and a global network of executives and
advisors. The fund takes a broad-based sector approach to
investment types, from growth equity to value-added infrastructure,
and focuses on climate solutions in the following thematic areas:
clean electrons, clean molecules and materials, and negative
emissions.
For more information, please visit
www.therisefund.com/tpgriseclimate.
About GIC
GIC is a leading global investment firm established in 1981 to
secure Singapore’s financial future. As the manager of Singapore’s
foreign reserves, we take a long-term, disciplined approach to
investing, and are uniquely positioned across a wide range of asset
classes and active strategies globally. These include equities,
fixed income, real estate, private equity, venture capital, and
infrastructure. Our long-term approach, multi-asset capabilities,
and global connectivity enable us to be an investor of choice. We
seek to add meaningful value to our investments. Headquartered in
Singapore, we have a global talent force of over 2,300 people in 11
key financial cities and have investments in over 40 countries.
For more information, please visit gic.com.sg or follow us on
LinkedIn.
About Partners Group
Partners Group is one of the largest firms in the global private
markets industry, with around 1’800 professionals and approximately
USD 150 billion in assets under management. The firm has investment
programs and custom mandates spanning private equity, private
credit, infrastructure, real estate, and royalties. With its
heritage in Switzerland and its primary presence in the Americas in
Colorado, Partners Group is built differently from the rest of the
industry. The firm leverages its differentiated culture and its
operationally oriented approach to identify attractive investment
themes and to transform businesses and assets into market leaders.
For more information, please visit www.partnersgroup.com or follow
us on LinkedIn.
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Press contact Techem Katharina Bathe-Metzler Head of
Sustainability, Communications & Public Affairs Techem Energy
Services GmbH Mobile +49 (0)1522 413 6702 E-Mail:
katharina.bathe-metzler@techem.de
Janina Schmidt Head of Corporate Communications Affairs Techem
Energy Services GmbH Mobile: +49 (0) 174 7444137 E-Mail:
janina.schmidt@techem.de
TPG Ari Cohen +1 415-743-1550 media@tpg.com
Brunswick for TPG Felix Morlock and Simon Hertwig +49 172
620 2649 TPGGERMANY@brunswickgroup.com
GIC Samantha Chiene Samanthachiene@gic.com.sg
Partners Group Alec Zimmermann Communications Partners
Group AG T +41 41 784 69 68 M +41 79 290 09 74
alec.zimmermann@partnersgroup.com