Techem is acquired by TPG and GIC for € 6.7 billion

Eschborn/ San Francisco/ Singa­pore — TPG Rise Climate, a fund specia­li­zing in climate invest­ments as part of TPG’s global impact inves­t­ing plat­form, and GIC, a leading global inves­tor, today signed an agree­ment to acquire Techem Group.
The company will be acqui­red from its exis­ting majo­rity owner Part­ners Group, one of the largest private markets invest­ment mana­gers acting on behalf of its clients, and co-inves­­tors CDPQ and Onta­rio Teachers’ Pension Plan.
The total value of the tran­sac­tion is EUR 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 tran­ches, one at closing of the tran­sac­tion and the remai­ning amount in July 2027.
TPG Rise Climate is one of the world’s largest private equity funds for global climate solu­ti­ons and invests in compa­nies that are signi­fi­cantly driving decarbonization.
Techem repres­ents the largest tran­sac­tion for the fund to date.
GIC is making a signi­fi­cant mino­rity investment.
— Link­la­ters advi­sed the fund TPG Rise Climate and the inves­tor GIC on the acqui­si­tion of the Techem Group.
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 homes with over 62 million digi­tal meters.
As a relia­ble, long-term part­ner, Techem supports the real estate indus­try and private land­lords in impro­ving their energy effi­ci­ency in a low-inves­t­­ment and ‑inva­sive manner and in sustain­ably redu­cing energy consump­tion, costs and CO2 emissions.
Techem’s services help to drive the long-term decar­bo­niza­tion of the real estate sector, which accounts for around 40% of carbon dioxide (_CO2) emis­si­ons worldwide. 

“With TPG and GIC, we are gaining strong new part­ners who bring with them the digi­ta­liza­tion and plat­form exper­tise that will help us make decisive progress in imple­men­ting our corpo­rate stra­tegy. Toge­ther, we want to further expand and advance our posi­tion as the leading plat­form for the digi­ta­liza­tion and decar­bo­niza­tion of the buil­ding sector in Europe and beyond,” says Matthias Hart­mann, CEO of Techem.
Looking ahead, he says: “Techem has deve­lo­ped into a leading provi­der of a broad range of digi­tal solu­ti­ons with strong growth and a powerful, agile orga­niza­tion. We are very grateful to Part­ners Group and its co-inves­­tors CDPQ and Onta­rio Teachers’ for their trust and colla­bo­ra­tion in deve­lo­ping the company over the past years and look forward to buil­ding on this success with TPG and GIC.” “Techem’s tech­no­logy, trans­pa­rent consump­tion data and opti­mi­zed solu­ti­ons for tenants, mana­gers and owners are making a signi­fi­cant contri­bu­tion to redu­cing costs and impro­ving the envi­ron­men­tal impact of proper­ties across Europe,” says
Ed Beck­ley, Mana­ging Part­ner of TPG Rise Climate, based in London.
“Energy consump­tion in buil­dings could be signi­fi­cantly redu­ced if effi­ci­ency and demand were better mana­ged. We look forward to support­ing the Techem team in driving and acce­le­ra­ting the reduc­tion of real estate emis­si­ons at scale.” Ang Eng Seng, Chief Invest­ment Offi­cer, Infra­struc­ture at GICsays: “Techem is an estab­lished energy service provi­der with a proven track record. Buil­ding level meter­ing is incre­asingly in demand in conti­nen­tal Europe as consu­mers and regu­la­tors conti­nue to focus on energy effi­ci­ency. We look forward to support­ing the company’s contin­ued growth toge­ther with TPG and its manage­ment.” Further expan­ding a strong digi­tal plat­form Thanks to its strong deve­lo­p­ment in recent years, Techem has excee­ded the one billion euro reve­nue mark — with further growth poten­tial through new digi­tal services and an incre­asingly compre­hen­sive decar­bo­niza­tion offering.
Techem will build on this foun­da­tion with its new part­ners TPG and GIC and further expand its ‘One Digi­tal Plat­form’ in order to tap into considera­ble energy effi­ci­ency poten­tial in the buil­ding sector through exten­sive digi­ta­liza­tion, opti­mize opera­tio­nal proces­ses and increase the living comfort of residents.
Techem will also bene­fit from TPG’s exper­tise in effec­tive decar­bo­niza­tion in achie­ving its own ambi­tious sustaina­bi­lity goals and thus build on the successful efforts of the previous year.
As recently as August, Techem recei­ved an outstan­ding rating of 9.6 — “Negli­gi­ble Risk” — in an ESG risk rating from Morning­star Sustai­na­ly­tics, a global provi­der of ESG data, studies and ratings.
This puts Techem in the top 3 percent of over 16,000 inter­na­tio­nal compa­nies asses­sed. Advi­sors to the funds TPG Rise Climate and GIC: Link­la­ters lead coun­sel Andreas Müller and Dr. Ralph Drebes (both part­ners, Private Equity/M&A, Frankfurt). 

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 protec­tion, healthy living and process effi­ci­ency in real estate.
The company was foun­ded in 1952, is now active in 18 count­ries with over 4,000 employees and services more than 13 million homes.
Techem offers increased effi­ci­ency along the entire value chain of heat and water in real estate as well as rege­ne­ra­tive supply concepts and solutions.
As the market leader in the wire­less remote recor­ding of energy consump­tion in homes, Techem conti­nues to drive forward networ­king and digi­tal proces­ses in real estate.
Modern multi-sensor devices and wire­less smoke alarms with remote inspec­tion, meter­ing point opera­tion, char­ging infra­struc­ture for elec­tro­mo­bi­lity and services for impro­ving the quality of drin­king water in proper­ties complete the port­fo­lio of solu­ti­ons for the resi­den­tial and commer­cial real estate industry.
For more infor­ma­tion, please visitwww.techem.comÜber TPG Rise Climate TPG Rise Climate is the specia­li­zed climate invest­ment stra­tegy of TPG’s global impact inves­t­ing plat­form, which has USD 19 billion under management.
TPG Rise Climate makes climate-rela­­ted invest­ments that bene­fit from the deep exper­tise of TPG’s invest­ment profes­sio­nals, stra­te­gic rela­ti­onships with climate-focu­­sed compa­nies in the exis­ting TPG port­fo­lio, and a global network of execu­ti­ves and advisors.
The fund takes a broad approach to invest­ment types, from growth equity to value-added infra­struc­ture, and focu­ses on climate solu­ti­ons in the follo­wing themes: 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 company estab­lished in 1981 to secure Singapore’s finan­cial future.
As the mana­ger of Singapore’s foreign reser­ves, we take a long-term, disci­pli­ned invest­ment approach and are uniquely posi­tio­ned globally across a wide range of asset clas­ses and active strategies.
These include equi­ties, fixed income, real estate, private equity, venture capi­tal and infrastructure.
Our long-term approach, multi-asset capa­bi­li­ties and global network make us an inves­tor of choice.
We strive to add signi­fi­cant value to our investments.
Head­quar­te­red in Singa­pore, we have a global talent group of over 2,300 employees in 11 major finan­cial cities and invest in over 40 countries.
www.gic.com.sg About Part­ners Group Part­ners Group is a leading global private markets invest­ment mana­ger with around 1,800 profes­sio­nals and appro­xi­m­ately USD 150 billion in assets under management.
The firm offers invest­ment programs and custo­mi­zed offe­rings in private equity, private credit, infra­struc­ture, real estate and royalties.
With its roots in Switz­er­land and its US head­quar­ters in Colo­rado, Part­ners Group stands out from other firms in the indus­try. The company uses its diffe­ren­tia­ted culture and opera­tio­nally focu­sed approach to iden­tify attrac­tive invest­ment oppor­tu­ni­ties and deve­lop compa­nies and assets into market leaders. www.partnersgroup.com