TPG Rise Climate, the dedicated climate investing strategy of TPG’s global impact investing platform, and GIC, are to acquire Techem Group, a service provider for smart and sustainable buildings from private markets investment firm Partners Group for €6.7bn.
The transaction is expected to close in the first half of 2025, subject to customary conditions and regulatory approvals, with the purchase price set to be paid in two instalments – one at close and the remainder in July 2027.
Techem acquisition represents the largest deal to date for TPG Rise Climate, one of the world’s largest private equity funds dedicated to investing in global climate solutions, and a significant minority investment for GIC.
Founded in 1952, Techem has built one of the largest digital energy services platforms in the industry and is active in 18 countries, servicing more than 13 million dwellings, with over 62 million digital measuring devices on its platform.
Techem supports the property sector and private landlords in improving their energy efficiency, to reduce energy consumption, costs and CO2 emissions in a low-investment and non-invasive manner. Techem’s services are also helping to advance the long-term decarbonisation of the real estate sector, which still drives approximately 40% of global CO2 emissions.
With the backing of TPG and GIC, Techem will now further expand its “One Digital Platform,” and will also tap TPG’s expertise in effective decarbonisation in achieving its own ambitious sustainability targets, accordiong to a press statement.
