Pinsent Masons advises Techem on the sale of its company for €6.7bn

Pinsent Masons has advised Techem Group on its acquisition by international investors TPG and GIC for a total consideration of €6.7bn.

TPG Rise Climate, a fund specialising in climate investments as part of TPG's global impact investing platform, and GIC, a leading global investor, signed an agreement with the previous owners on 1 October 2024 to acquire the Techem Group. The company will be acquired from its previous majority owner Partners Group, one of the largest private markets investment managers acting on behalf of its clients, and co-investors CDPQ and Ontario Teachers' Pension Plan. The transaction is expected to close in the first half of 2025.

Techem Group has built one of the largest digital energy services platforms in the industry, serving more than 13 million homes with over 62 million digital meters. Techem's services play a key role in driving the long-term decarbonisation of the real estate sector. Together with the future owners TPG and GIC, Techem will further expand and strengthen its leading position as a platform for decarbonisation and digitalisation of the building sector.

Pinsent Masons advised Techem and its management in connection with the conclusion of the purchase agreement, in particular on liability and W&I insurance issues.

The Pinsent Masons team included Sven Schulte-Hillen, Dr Markus Friedl, LL.M. (Lead, Corporate / M&A Frankfurt), Jörn Fingerhuth (W&I Insurance Munich)

Techem, headquartered in Eschborn near Frankfurt, is the market leader in the wireless remote metering of energy consumption in homes and a leading service provider for smart and sustainable buildings. The company was founded in 1952, is now active in 18 countries with over 4,000 employees and services more than 13 million homes.

TPG Rise Climate is the specialised climate investment strategy of TPG's global impact investing platform, which has USD 19 billion under management. The fund takes a broad approach to investment types, from growth equity to value-added infrastructure, and focuses on climate solutions in the areas of clean electrons, clean molecules and materials, and negative emissions.

GIC, founded in 1981, is Singapore's sovereign wealth fund. The investor's wide range of asset classes and active strategies include equities, fixed income, property, private equity, venture capital and infrastructure. The company employs over 2,300 people in 11 financial centres and invests in over 40 countries.

Partners Group, with roots in Switzerland and headquarters in Colorado (USA), is a leading global private markets investment manager with around 1,800 professionals and approximately USD 150 billion in assets under management. The company offers investment programmes and tailor-made offerings in the areas of private equity, private credit, infrastructure, real estate and royalties.