Partners Group, GIC, TPG Rise Climate – the dedicated climate investing strategy of TPG’s global impact investing platform, and Mubadala, are to invest in real estate digital solutions provider Techem, in a transaction valuing the company at around €6.7bn.
Following the acquisition, Partners Group’s Infrastructure business will have a controlling stake in Techem on behalf of its clients.
Founded in 1952 and headquartered in Eschborn, Germany, Techem provides energy services, including resource management, residential health, and building efficiency, as well as energy contracting services to property managers and owners of multi-tenant residential buildings. The company has over 440,000 customers in 18 countries and services more than 13 million dwellings.
Techem’s core submetering service yields strong environmental and economic benefits through fair cost allocation, driving down energy consumption and emissions at the most competitive cost.
Techem’s state-of-the-art devices and services are critical to advancing the long-term decarbonisation of the real estate sector, which still drives approximately 40% of global CO2 emissions. Around 62 million of Techem’s devices are currently installed worldwide.
In 2018, Techem was acquired by a consortium led by Partners Group’s Private Equity business, alongside co-investors La Caisse and Ontario Teachers’ Pension Plan. The group oversaw a period of strong growth at the Company, with revenues reaching over €1bn and EBITDA growing around 50%. As part of this transaction, that consortium will exit their stakes in the Company.
The new ownership consortium will implement a value creation plan focused on strengthening Techem’s position as a leading digital-first provider of submetering solutions for the real estate sector across Europe.
This will be done by further digitalising operations, adding complementary offerings such as smart meters, and enabling other digital services focused on improving building efficiency.
As Techem’s business has grown, it has increasingly benefited from infrastructure themes and trends, including a growing focus on energy efficiency globally driven by new regulatory requirements, corporate decarbonisation goals, and higher energy costs.
The transaction is expected to close in H2 2025, subject to customary conditions and regulatory approvals. Partners Group’s Infrastructure business has $27bn in assets under management globally.
