Partners Group, GIC, TPG Rise Climate and Mubadala Announce Agreement to Acquire Techem for AED 29 billion

Mubadala Investment Company (“Mubadala”), the Abu Dhabi based investment company, alongside 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, announced a joint agreement to acquire Techem, an international provider of digitally enabled solutions for the real estate sector.

Techem is set to be acquired for total consideration of approximately AED 29 billion (EUR 6.7 billion). The transaction is expected to close in H2 2025, subject to customary conditions and regulatory approvals.

Founded in 1952, Techem has over 440,000 customers in 18 countries and services over 13 million dwellings. As a reliable long-term partner, Techem aids the property sector and private landlords in enhancing energy efficiency, reducing consumption, costs, and CO2 emissions through low-investment, non-invasive methods. Its services contribute to the long-term decarbonization of the real estate sector, which accounts for around 40% of global CO2 emissions. Approximately 62 million of Techem’s devices are currently installed worldwide.

“The decarbonization 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,” said Abdulla Mohamed Shadid, Head of Energy and Sustainability at Mubadala’s Private Equity Platform. “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.”