Geneva (awp) – The Zug-based asset manager Partners Group sells its majority stake in Techem. The transaction values the German metrology specialist at around 6.7 billion euros (6.3 billion Swiss francs).
Techem passes into the hands of the American private equity company TPG and the Singaporean sovereign fund GIC, indicates Partners Group in a press release released on Tuesday. As part of this transaction, existing co-investors, the Quebec Pension Fund (CDPQ) and the Ontario Teachers’ Pension Plan, will also exit their stakes in the company.
Partners Group invested in Techem in 2018 and this sale, which should be finalized in the first half of 2025 subject to the approval of the authorities concerned, was closely scrutinized by market observers.
The company, which notably provides solutions designed to improve the energy efficiency of buildings, has since experienced a period of strong growth, with revenues reaching more than a billion euros and a 50% increase in its gross surplus. operating (Ebitda). Techem has more than 428,000 customers spread across 18 countries and serves more than 13 million homes.
rr/jh
Related News :