The purchase price, which should be finalized in the second half, has not been revealed.
Partners Group and a consortium of minority investors announce the German techem, an international supplier of digital solutions for the real estate sector. The purchase price, which should be finalized in the second half, has not been revealed.
The infrastructure activity of Partners Group, which manages $ 27 billion in the world, will hold majority participation in Techem on behalf of its customers, the company said in a press release published on Monday. Among the shareholders are notably TPG RISE CLIMATE, the investment strategy dedicated to the climate of the global investment platform TPG, and Mubadala Investment Company, a company based in Abu Dhabi.
The value of Techem, which has more than 440,000 customers in 18 countries and serves more than 13 million dwellings, amounts to 6.7 billion euros (6.2 billion francs).
In 2018, the company had been acquired by a consortium led by the private equity activity of Partners Group, alongside co-investors, the fund and the retirement regime of the Ontario teachers. “The group supervised a period of strong growth in the company, with income reaching more than a billion euros and an EBITDA growth of around 50%. As part of this transaction, this consortium will withdraw from the company, ”specifies Partners Group.
The new consortium intends to implement a value creation plan “focused on the strengthening of the position of Techem as the first digital supplier of sub-counting solutions for the real estate sector in Europe”. This must be done by continuing to scan operations, the addition of additional offers such as intelligent meters and the implementation of other digital services focused on improving the efficiency of buildings.