Partners Group Holding AG - Baar-Zug, Switzerland-based private equity investor - Sells its majority stake in Techem GmbH at an enterprise value of €6.7 billion to US private equity firm TPG Inc and Singapore state investment firm CIC Pvt Ltd. Founded in 1952, Frankfurt-based Techem provides building services, such as energy management. It has 428,000 customers in 18 countries, providing services for more than 13 million dwellings. Exiting Techem with Partners Group are co-investors the Ontario Teachers’ Pension Plan and CDPQ - Caisse de depot et placement du Quebec. Together, they acquired Techem in 2018.
Partners Group Private Equity Ltd, a Guernsey-domiciled, London-listed investment company managed by Partners Group, said its own part in Techem was its sixth-largest portfolio holding. The sale price was valued its stake in Techem at 4% of its net asset value, in line with its most recently published carrying value.
Partners Group stock price: fr.1,284.50, up 1.1% in Zurich on Tuesday
12-month change: up 25%
Partners Group Private Equity stock price: 916.00 pence, up 4.1% in London
12-month change: up 1.1%
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