Mubadala Joins Partners Group-led Consortium to Invest in Techem

Mubadala, the UAE’s state-owned sovereign fund, GIC, and TPG Climate Rise have joined Partners Group, one of the largest firms in the global private markets industry with assets worth $150 billion, have agreed to invest in German engineering firm Techem, an international provider of digitally enabled solutions for the real estate sector.

The transaction, which is expected to close in H2 2025 subject to customary conditions and regulatory approvals, values Techem at an enterprise value of around $7.82 billion. Following the acquisition, Partners Group’s Infrastructure business will have a controlling stake in Techem on behalf of its clients.

Founded in 1952 and headquartered in Eschborn, Germany, Techem provides energy services, including resource management, residential health, and building efficiency, as well as energy contracting services to property managers and owners of multi-tenant residential buildings.

Techem’s core submetering service yields strong environmental and economic benefits through fair cost allocation, driving down energy consumption and emissions at the most competitive cost. Its state-of-the-art devices and services are critical to advancing the long-term decarbonisation of the real estate sector, which still drives approximately 40% of global CO2 emissions. Around 62 million of Techem’s devices are currently installed worldwide.

In 2018, Techem was acquired by a consortium led by Partners Group’s Private Equity business, alongside co-investors La Caisse and Ontario Teachers’ Pension Plan. The group oversaw a period of strong growth at the company, with revenues reaching over $1.17 billion and EBITDA growing around 50%. As part of this transaction, that consortium will exit their stakes in the company.

The new ownership consortium will implement a value creation plan focused on strengthening Techem’s position as a leading digital-first provider of submetering solutions for the real estate sector across Europe.

This will be done by further digitalising operations, adding complementary offerings such as smart meters, and enabling other digital services focused on improving building efficiency.

As Techem’s business grew, it has increasingly benefited from infrastructure themes and trends, including a growing focus on energy efficiency globally driven by new regulatory requirements, corporate decarbonisation goals, and higher energy costs.

Global Energy Services Provider

David Daum, Partner, Head Infrastructure Europe, Partners Group, said that over the past seven years, together with La Caisse and Ontario Teachers’, their private equity business built Techem into a global energy services provider.

“We see great potential for Techem moving forward and will continue to actively drive this success story with our new investors GIC, TPG Rise Climate, and Mubadala. Energy efficiency is a key thematic focus, and Techem is poised to continue benefiting from the thematic tailwinds of the push for decarbonisation,” he added.

Techem’s CEO Matthias Hartmann said that the new ownership consortium is ideal for them as it ensures continuity while also providing fresh impulses for the implementation of our strategy.

Boon Chin Hau, Chief Investment Officer, Infrastructure at GIC, said that Techem is at the forefront of energy services and is uniquely positioned to drive energy efficiency within the real estate sector. This partnership with Partners Group, TPG, Mubadala, and Techem’s management team will accelerate the business’s strategy, unlocking future growth.

Abdulla Mohamed Shadid, Head of Energy and Sustainability at Mubadala’s Private Equity Platform, said that the decarbonisation of the real estate sector continues to be a global priority for better and more sustainable living.

He also said that as a trusted and leading sub-metering services provider with a digital edge, Techem is well positioned to continue leading this transition, improving the energy management of buildings through better efficiency and consumption.