M&A Deal Summary

TPG and GIC Acquire Techem

On October 1, 2024, private equity firm TPG and sovereign wealth fund GIC acquired energy services and equipment company Techem from CDPQ, Partners Group AG and Ontario Teachers Pension Plan for 6.7B EUR

Acquisition Highlights
  • This is TPG’s 5th and GIC’s 2nd transaction in the Energy Services and Equipment sector.
  • This is TPG’s 8th and GIC’s 5th largest (disclosed) transaction.
  • This is TPG’s 7th and GIC’s 1st transaction in Germany.

M&A Deal Summary

Date 2024-10-01
Target Techem
Sector Energy Services and Equipment
Buyer(s) TPG
GIC
Sellers(s) CDPQ
Partners Group AG
Ontario Teachers Pension Plan
Deal Type Secondary Buyout
Deal Value 6.7B EUR

Target

Techem

Eschborn, Germany
Techem specializes in smart and sustainable solutions for the real estate industry, focusing on energy efficiency and decarbonization. Techem provides digital services that help reduce energy consumption, improve water management, and increase resource conservation across properties. Techem's comprehensive offerings include remote monitoring systems for heating and water, wireless smoke detectors, and solutions for enhancing energy efficiency in buildings. Techem was founded in 1952 and is based in Eschborn, Germany.

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Buyer(S) 2

Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 421 of 421
Sector (Energy Services and Equipment) 5 of 5
Type (Secondary Buyout) 72 of 72
Country (Germany) 7 of 7
Year (2024) 8 of 8
Size (of disclosed) 8 of 105
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-01 Surescripts

Arlington, Virginia, United States

Surescripts is a health information network. Surescripts has advanced health intelligence sharing, supporting nearly 24 billion exchanges of patient clinical and benefit information in 2023, providing better informed, safer and less costly care for patients nationwide. Surescripts is based in Arlington, Virginia.

Buy -
Buyer
DESCRIPTION

GIC Private Ltd. is the investment arm of Singapore. The Group primarily invests through three investment groups, including public markets, private equity and real estate. GIC's private equity practice looks to invest in funds as well as directly in companies. GIC is based in Singapore with additional offices globally.


DEAL STATS #
Overall 39 of 42
Sector (Energy Services and Equipment) 2 of 4
Type (Secondary Buyout) 14 of 14
Country (Germany) 1 of 1
Year (2024) 1 of 4
Size (of disclosed) 5 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-07 Biotrop

São Paulo, Brazil

Biotrop is an ag-tech focused on biologicals and natural sustainable solutions for agriculture. As the result of the dedication of a select group of professionals passionate about agribusiness, the company offers the most high-tech biological inputs to growers. Biotrop was founded in 2018 and is based in São Paulo, Brazil.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-02 Reworld

Morristown, New Jersey, United States

Reworld is a provider of waste and energy services to municipal entities. The Company's 45 Energy-from-Waste facilities provide communities and businesses around the world with environmentally sound solid waste disposal by using waste to generate clean, renewable energy. Reworld was founded in 1962 and is based in Morristown, New Jersey.

Buy -

Seller(S) 3

SELLER

CDPQ

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1965
PE ASSETS 80.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

CDPQ is a global asset management firm focused on a variety of investing strategies including fixed income, real estate, infrastructure, private equity, venture capital, and public equities. Within private equity, CDPQ looks to acquire significant minority stakes in businesses operating in a variety of sectors and seeks to commit $250 million to $1 billion per transaction. CDPQ was established in 1965 and is headquartered in Montreal, Quebec.


DEAL STATS #
Overall 16 of 16
Sector (Energy Services and Equipment) 1 of 1
Type (Secondary Buyout) 2 of 2
Country (Germany) 1 of 1
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-24 Aareon

Mainz, Germany

Aareon is a provider of ERP software and digital solutions for the European property industry, Aareon is setting the standards for the management of complex business processes. Aareon is based in Mainz, Germany.

Buy €3.9B
SELLER
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 25 of 25
Sector (Energy Services and Equipment) 1 of 1
Type (Secondary Buyout) 16 of 16
Country (Germany) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-01 FairJourney Biologics

Porto, Portugal

FairJourney Biologics is a biologics CRO, providing integrated services across antibody discovery, engineering, and production to global biopharma. The company operates a flexible, customer-oriented ‘one-stop-shop’ approach to biologics development focused on quality, reliability, and partnership. FairJourney Biologics was founded in 2012 and is based in Porto, Portugal.

Buy -
SELLER

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Pension
Founded 1990
PE ASSETS 242.5B USD
Size Mega
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 72 of 72
Sector (Energy Services and Equipment) 3 of 3
Type (Secondary Buyout) 20 of 20
Country (Germany) 5 of 5
Year (2024) 1 of 1
Size (of disclosed) 1 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-13 Shearer’s Foods

Massillon, Ohio, United States

Shearer's Foods is a producer of high-quality seasoned snack foods and related products. Shearer's produces kettle chips. Shearer's Foods was formed in 1974 and is based in Massillon, Ohio.

Sell -