Consortium to Acquire German Company in Multi-Billion Deal

Mubadala, the Abu Dhabi wealth fund, is part of a consortium acquiring Techem, a German digital solutions provider for the real estate sector, in a €6.7 billion (Dh29 billion) deal. Techem specializes in enhancing energy efficiency and reducing consumption, costs, and CO2 emissions within the real estate sector. The company operates in 18 countries, serving over 440,000 customers and managing over 13 million properties.

Techem's services focus on low-investment, non-invasive methods to facilitate the long-term decarbonization of the real estate sector, which accounts for approximately 40% of global CO2 emissions. The company has installed around 62 million devices. The consortium also includes Partners Group, GIC, and TPG Rise Climate.

Abdulla Mohamed Shadid, Head of Energy and Sustainability at Mubadala’s Private Equity Platform, highlighted the importance of decarbonizing the real estate sector. He believes Techem is well-positioned to lead the transition towards improved energy management in buildings.