Partners Group’s infrastructure arm takes controlling stake in Techem

The infrastructure arm of Partners Group is taking a controlling stake in building energy services provider Techem as part of a partnership with minority investors that include GIC, TPG Rise Climate and Mubadala.

Partners Group is acquiring the majority stake in Techem, which provides energy services to residential buildings, in a transaction that values the company at €6.7bn.

The latest deal follows an October announcement in which TPG’s global impact investing platform and Singapore’s GIC agreed to acquire Techem from Partners Group’s private equity arm and co-investors La Caisse and Ontario Teachers’ Pension Plan for €6.7bn.

At the time, TPG Rise Climate was set to take a majority stake in Techem, with GIC making “a significant minority investment”.

Partners Group’s private equity arm and its co-investors La Caisse and Ontario Teachers’ originally acquired Techem in 2018 from a Macquarie infrastructure fund for €4.6bn.

David Daum, partner, head of infrastructure Europe at Partners Group, said: “Over the past seven years, together with La Caisse and Ontario Teachers’, our private equity business built Techem into a global energy services provider.

“We see great potential for the company moving forward and are pleased to be able to continue to actively drive this success story with our new investors GIC, TPG Rise Climate and Mubadala.”

Matthias Hartmann, CEO of Techem, said: “The new ownership consortium is ideal for Techem because it ensures continuity while also providing fresh impulses for the implementation of our strategy.

“We look forward to working with them on the next phase of our growth story as we capitalise on our momentum to further expand our position as the leading platform for the digitalisation and decarbonisation of the building sector in Europe and beyond.”

Boon Chin Hau, CIO, infrastructure at GIC, said: “Techem is at the forefront of energy services and is uniquely positioned to drive energy efficiency within the real estate sector. Our partnership with Partners Group, TPG, Mubadala and Techem’s management team will accelerate the business’s strategy, unlocking future growth.”

Ed Beckley, London-based managing partner of TPG Rise Climate, said: “Techem’s solutions are highly differentiated, and it is poised to continue to play a leading role in Europe’s decarbonisation story. With the execution capabilities of this exceptional management team, we look forward to supporting Techem’s business for the benefit of the property managers, owners, and tenants on their platform.”

Abdulla Mohamed Shadid, head of energy and sustainability at Mubadala’s private equity platform, said: “The decarbonisation of the real estate sector continues to be a global priority for better and more sustainable living.

“As a trusted and leading sub-metering services provider with a digital edge, Techem is well positioned to continue leading this transition, improving the energy management of buildings through better efficiency and consumption.”

Founded in 1952 and headquartered in Eschborn, Germany, Techem has developed one of the industry’s largest digital energy services platforms. Operating in 18 countries and serving over 13m dwellings, Techem’s platform boasts over 62m digital measuring devices.

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