Partners Group, in partnership with GIC, TPG Rise Climate, and Mubadala, has agreed to acquire Techem in a transaction valuing the German energy efficiency provider at approximately $7.3bn.

The deal will see Partners Group’s Infrastructure unit assume a controlling stake in the company, with the transaction expected to close in the second half of 2025, subject to regulatory approvals.

Techem provides digital-enabled energy and submetering solutions for the real estate sector, serving more than 13 million residential units across 18 countries. The firm manages a network of over 62 million devices and is a key player in driving energy efficiency and decarbonisation within the built environment.

The acquisition marks a new phase for Techem, following strong growth under the ownership of Partners Group’s Private Equity division, La Caisse, and Ontario Teachers’, who are now exiting the business. During that period, the company grew its EBITDA by approximately 50% and surpassed €1bn in annual revenue.

The new consortium aims to deepen Techem’s role in Europe’s energy transition by enhancing its digital platform and expanding complementary services such as smart metering and building automation.

“Techem is poised to continue benefiting from the thematic tailwinds of the push for decarbonisation,” said David Daum, Partner and Head of Infrastructure Europe at Partners Group. “We see great potential for the company moving forward and are pleased to continue its success story with GIC, TPG Rise Climate, and Mubadala.”

Matthias Hartmann, CEO of Techem, added: “The new ownership consortium is ideal for Techem because it ensures continuity while also providing fresh impulses for our strategy.”

Techem is increasingly seen as a strategic infrastructure asset, positioned at the intersection of digitalisation and sustainability in real estate—an area of rising interest among private equity investors targeting long-term thematic growth.

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