Energy Efficiency Specialist Techem to Be Acquired by TPG and GIC

Image source: Techem

Published on October 17, 2024

Techem, a specialist in energy efficiency for buildings, is set to be acquired by TPG and GIC for €6.7 billion. The acquisition aims to bolster Techem’s efforts to decarbonise the real estate sector, which accounts for approximately 40% of global CO2 emissions. Operating across 18 countries, Techem’s digital platform manages energy use in over 13 million properties, helping reduce energy consumption, costs, and emissions.

With support from TPG’s climate-focused investment strategy and GIC’s infrastructure expertise, Techem will further expand its offerings in building management. The new ownership plans to enhance Techem’s ‘One Digital Platform,’ making it easier for property managers and landlords to implement energy-saving measures. The transaction is expected to close in the first half of 2025, subject to regulatory approval, positioning Techem for continued growth in digital and decarbonisation services within the real estate sector.

Share this news: