Mubadala Investment Company, Abu Dhabi’s sovereign wealth fund, is acquiring Germany’s Techem, an international provider of digitally enabled solutions for the real estate sector, for a total consideration of AED 29 billion (US$7.9 billion).
Partners Group, one of the largest firms in the global private markets industry; GIC, a leading global investor; and TPG Rise Climate, the dedicated climate investing strategy of TPG’s global impact investing platform, are the other involved companies.
The transaction is expected to close in the second half of 2025, subject to customary conditions and regulatory approvals.
Founded in 1952, Techem serves over 440,000 customers across 18 countries and manages more than 13 million dwellings. About 62 million of its devices are installed worldwide, helping the property industry and private landlords improve energy efficiency, cut consumption, costs, and CO2 emissions through low-cost, non-invasive methods.
Techem’s services contribute to the long-term decarbonisation of the real estate sector, which accounts for around 40 per cent of global CO2 emissions.
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 EUR1 billion (US$1.17 billion) and EBITDA growing around 50 per cent.
As part of the new transaction, the earlier consortium will exit their stakes in Techem and the new ownership consortium will implement a value creation plan focused on strengthening its 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.
Abdulla Mohamed Shadid, Head of Energy and Sustainability at Mubadala’s Private Equity Platform, commented: “The decarbonisation of the real estate sector continues to be a global priority for better and more sustainable living. 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.
“We are delighted to be investing alongside Partners Group, GIC, and TPG Rise Climate and to be supporting Techem as it continues to expand and strengthen its value proposition. This transaction aligns with Mubadala’s long-term commitment to deploying capital purposefully and helping to find solutions to global challenges.”
Following the acquisition, Partners Group’s infrastructure business will have a controlling stake in Techem on behalf of its clients.
David Daum, Partner, Head Infrastructure Europe, Partners Group, added: “Over the past seven years, together with La Caisse and Ontario Teachers’, our private equity business built Techem into a global energy services provider. We see great potential for the company moving forward and are pleased to be able to 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.”
