Techem to be Acquired for €6.7 Billion with TPG and GIC Investment

Techem Energy Services GmbH has announced a significant acquisition agreement with TPG Rise Climate and GIC. The transaction, valued at approximately €6.7 billion, is expected to close in the first half of 2025.

Founded in 1952, Techem is a leading player in the digital energy services sector. The company operates in 18 countries, servicing over 13 million dwellings with more than 62 million digital measuring devices. Their focus on energy efficiency and climate protection has made them a trusted partner in the real estate industry.

The acquisition will see TPG Rise Climate and GIC bring expertise in digitization and decarbonization, aiding Techem's growth strategy. According to CEO Matthias Hartmann, the partnership aims to expand Techem's position as a leading platform for decarbonizing the building sector across Europe and beyond.

TPG Rise Climate’s Managing Partner, Ed Beckley, emphasized the opportunity to enhance energy efficiency in built environments, while GIC’s Ang Eng Seng highlighted Techem's proven track record in energy services. The company has exceeded the one-billion-euro revenue mark and aims to further develop its digital platform under the new ownership.