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Partners Group Private Equity Ltd on Monday said a consortium, led by its investment manager, has agreed a new deal to acquire Techem. Partners Group said this deal gives the German energy services company an enterprise value of around €6.7 billion. The investment firm managed by Partners Group Holding AG said the transaction follows an earlier proposed sale in October 2024 that did not proceed as originally structured. Partners Group, alongside co-investors GIC, TPG Rise Climate and Mubadala Investment Company, will now back Techem through its next growth phase. Techem provides digitally enabled energy and sub-metering solutions for the real estate sector. Headquartered in Eschborn, Germany, the company services more than 13 million dwellings across 18 countries and has over 440,000 customers. The new transaction values Partners Group PE Ltd’s stake in Techem, its seventh-largest portfolio holding, at around €39 million. This is in line with its latest carrying value. Of this amount, €18 million will be reinvested to maintain exposure to future growth, with the remainder expected to be distributed to shareholders later in 2025. The transaction is expected to close in the second half of 2025, subject to regulatory approvals. Techem was originally acquired in 2018 by another Partners Group-led group, which oversaw a period of strong growth, including a 50% increase in earnings before interest, tax, depreciation, and amortisation and revenue surpassing €1 billion, Partners said. That group will now exit as part of the new deal. Partners Group said the new ownership will focus on expanding Techem’s digital sub-metering capabilities and broader energy-efficiency services, positioning the firm to support long-term decarbonisation in the property sector. Shares in Partners Group Private Equity were quoted at €9.64 in London on Monday morning. Shares in parent company Partners Group Holding were 0.4% lower at fr.1,050.50 in Zurich. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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