M&A Deal Summary

Ontario Teachers Pension Plan, Partners Group AG and La Caisse de dépôt et placement du Québec Acquire Techem

On May 25, 2018, pension Ontario Teachers Pension Plan, asset manager Partners Group AG and private equity firm La Caisse de dépôt et placement du Québec acquired business services company Techem from Macquarie Capital for 4.6B EUR

Acquisition Highlights
  • This is Ontario Teachers Pension Plan’s 6th, Partners Group AG’s 3rd and La Caisse de dépôt et placement du Québec’s 4th transaction in the Business Services sector.
  • This is Ontario Teachers Pension Plan’s , Partners Group AG’s and La Caisse de dépôt et placement du Québec’s 2nd largest (disclosed) transaction.
  • This is Ontario Teachers Pension Plan’s 5th, Partners Group AG’s 2nd and La Caisse de dépôt et placement du Québec’s 1st transaction in Germany.

M&A Deal Summary

Date 2018-05-25
Target Techem
Sector Business Services
Buyer(s) Ontario Teachers Pension Plan
Partners Group AG
La Caisse de dépôt et placement du Québec
Sellers(s) Macquarie Capital
Deal Type Secondary Buyout
Deal Value 4.6B EUR

Target

Techem

Eschborn, Germany
website
Techem caters to a global client base of real estate operators and private home owners from its 150 branches in more than 20 countries. Its principal Energy Services business provides services and devices for the metering and billing of energy and water, plus device sales, hire and maintenance. In addition, its Energy Contracting business delivers heat, cooling, flow energy and light, as well as the planning, set-up, financing and operation of energy systems and energy monitoring and controlling services. Techem is the market leader in Germany, the largest sub-metering market in the world, as well as in an additional 13 European markets. Techem solutions today account for 6.9 million tons of CO2 emission savings per year, thus contributing to global climate protection objectives. Techem was founded in 1952 and is based in Eschborn, Germany.

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Buyer(S) 3

Buyer

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website


Category Pension
Founded 1990
PE ASSETS 242.5B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Teachers' can support direct private equity investments between $100 million and $3 billion. Target sectors include business services, consumer products, retail, diversified industrials, financial services, technology, media, and communications. Teachers' Private Capital also makes private equity fund investments between $50 million and $750 million. Teachers' Private Capital was formed in 1991 and is based in Toronto, with additional offices in London and New York.


DEAL STATS #
Overall 116 of 169
Sector (Business Services) 6 of 6
Type (Secondary Buyout) 39 of 54
Country (Germany) 5 of 6
Year (2018) 2 of 6
Size (of disclosed) 1 of 36
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-10 Helly Hansen

Oslo, Norway

Helly Hansen is known for its professional grade gear and engages in designing innovative and high quality technical performance products developed for the harshest outdoor conditions. Within its core categories of sailing, skiing, mountain, urban, rainwear and workwear, Helly Hansen designs and delivers products used by professionals and outdoor enthusiasts around the world. With wholesale and retail distribution capabilities across more than 40 countries, Helly Hansen is a trusted and celebrated brand worldwide.

Sell $985M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-07 GCT Global Container Terminals

Vancouver, British Columbia, Canada

GCT Global Container Terminals operates four container terminals strategically located in the Ports of Vancouver, New York and New Jersey. GCT Global Container Terminals is based in Vancouver, British Columbia.

Buy -
Buyer

Partners Group AG

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1996
SizeMega
Type Sector Agnostic
DESCRIPTION

Partners Group is a global investment management firm with a variety of funds and institutional clients. The Firm's direct investment group looks to invest in or acquire market leading companies with growth opportunities linked to technology. Partners is a hands-on investor and looks to actively support its portfolio companies with expansion, operational, and governance structure support. Partners Group was established in 1996 and is headquartered in Zug, Switzerland.


DEAL STATS #
Overall 51 of 86
Sector (Business Services) 3 of 6
Type (Secondary Buyout) 27 of 50
Country (Germany) 2 of 5
Year (2018) 2 of 5
Size (of disclosed) 1 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-17 Hearthside Food Solutions

Downers Grove, Illinois, United States

Hearthside Food Solutions is a food contract manufacturer. The Company offers diverse production capabilities including bars, cookies, crackers, granola, snack components, and other baked goods. Hearthside specializes in the production of complex, high-volume, short-run products, which represent an increasing portion of customer demand. Hearthside Food Solutions was founded in 2009 and is based in Downers Grove, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-28 Crudine Ridge Wind Farm

Australia

Crudine Ridge Wind Farm is a 135MW construction-ready wind farm near Mudgee in New South Wales. Crudine Ridge Wind Farm will consist of 37 GE 3.63MW turbines and, once operational, will provide a further 400GWhrs of annual power output to the grid, enough to serve 55,000 homes. Half of this energy has been sold to Powershop, an Australian electricity provider that provides 100% green energy to its retail customers. The wind farm is also expected to support 75 full-time equivalent jobs during construction, stimulating further investment in local businesses and services, and deliver more than eight million tonnes of carbon emissions abatement over its lifetime.

Buy -
Buyer

La Caisse de dépôt et placement du Québec

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1965
PE ASSETS 392.0B CAD
SizeMega
Type Sector Agnostic
DESCRIPTION


DEAL STATS #
Overall 48 of 85
Sector (Business Services) 4 of 6
Type (Secondary Buyout) 11 of 18
Country (Germany) 1 of 1
Year (2018) 5 of 12
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-22 Invenergy Renewables

Chicago, Illinois, United States

Invenergy Renewables develops, owns, and operates power generation and energy storage facilities in North America and Europe. Company have a proven track record in establishing and maintaining longstanding, profitable relationships with utilities, suppliers, and the communities in which our projects are located. Invenergy Renewables was founded in 2001 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-14 Delachaux Group

Colombes, France

Delachaux Group designs and manufactures high value-added products, systems and services critical to the safety, reliability and efficiency of its customers’ equipment and infrastructure. The Delachaux teams’ commitment and know-how reflect their passion for their customers’ businesses. The Delachaux Group provides solutions to half of the world’s railways, two thirds of the world’s seaports and half of the planes flying. It mainly serves the rail infrastructure, port, aeronautics, logistics and mining sectors. The Group has developed an undisputed know-how and renowned innovation capabilities. Delachaux Group was founded in 1902 and is based in Colombes, France.

Buy -

Seller(S) 1

SELLER

Macquarie Capital

Investor Investor

website


Category Private Equity Firm
SizeMega
Type Sector Agnostic
DESCRIPTION

Macquarie Capital is the principal investing arm of financial services company Macquarie Group. Macquarie Capital has global capability in advisory, capital raising services, and provides clients with specialist expertise, advice and flexible capital solutions across a range of sectors and products including investing alongside partners and clients. Macquarie Capital is based in Sydney, Australia.


DEAL STATS #
Overall 2 of 6
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 2 of 4
Country (Germany) 1 of 1
Year (2018) 1 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 Penn Foster

Scranton, Pennsylvania, United States

Penn Foster is bridging the gap between education and economic opportunity to build tomorrow's workforce. For over 125 years, Penn Foster has helped individuals develop the skills they need to pursue purposeful, and productive careers through affordable diploma, certificate and degree programs. With more than 40,000 graduates each year, Penn Foster's digital and blended learning programs are delivered in a self-paced model along with personalized academic and career coaching.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-24 Energetics

Glasgow, United Kingdom

Energetics designs, owns and operates ‘last mile’ electricity and gas connections. Energetics was founded in 2006 and is based in Glasgow, United Kingdom.

Sell -