Latest news with #PartnersGroup
Independent Singapore
4 days ago
- Business
- Independent Singapore
GIC backs Germany's Techem Group in deal valued at S$9.9 bllion
SINGAPORE: Singapore's sovereign wealth fund GIC is taking a leading role in real estate decarbonisation by investing in Techem. This move aligns with the fund's innovative findings on climate adaptation. GIC joined Partners Group, TPG Rise Climate, and Mubadala in the investment in an enterprise value (EV) of around €6.7 billion (S$9.99 billion). EV measures a company's total value. This includes its capitalisation, short- and long-term, as well as any cash equivalents on the company's balance sheet. GIC's recent research shows a changing economic landscape: global annual revenues from climate adaptation solutions are expected to rise from US$1 trillion today to US$4 trillion by 2050. Notably, US$2 trillion of this growth is directly linked to global warming, which is often ignored in traditional industry forecasts. Boon Chin Hau, GIC's Chief Investment Officer for Infrastructure, views Techem as a prime example of this new opportunity. 'We're not just investing in a company but in a key solution to global carbon challenges,' he explains. This investment reflects a wider strategic vision where climate adaptation becomes a trillion-dollar market. See also GIC bracing for low returns due to trade war The potential of this investment is significant. GIC predicts that the investment opportunity across public and private markets will grow from US$2 trillion today to US$9 trillion by 2050. Of this, US$3 trillion comes from growth directly connected to global warming, highlighting the economic need for climate solutions. Techem has 62 million connected devices in 18 countries and manages energy services for 13 million homes. This matches the type of scalable, technology-based solution that GIC sees as essential. The real estate sector produces 40% of global CO2 emissions, making this investment both financially sound and environmentally necessary. While GIC's model cautiously assumes that adaptation demand will respond to events, the fund believes growing awareness of climate risks could prompt quicker action. Techem's digital infrastructure, which includes AI-driven analytics and smart meters, represents the innovative solution that could drive this progress. The investment leverages Techem's solid growth history. Since 2018, it's grown its revenues to over €1 billion, with earnings before interest, taxes, depreciation, and amortisation (EBITDA) rising by 50%, metrics that fit well with GIC's forward-thinking investment approach. 'Our partnership with Partners Group, TPG, Mubadala, and Techem's management team will accelerate the business's strategy, unlocking future growth,' Hau emphasises, underlining how the investment connects technological progress with climate adaptation. The deal, expected to finalise in the second half of 2025, places GIC at the centre of a transformative economic opportunity. As buildings worldwide get ready for stricter environmental regulations, Techem's digital infrastructure becomes a vital asset in the US$4 trillion climate adaptation market. In the complicated world of global infrastructure investing, GIC has once again shown its skill in finding value at the key intersection of technology, sustainability, and strategic insight, turning climate challenges into investment chances. Commenting on the deal, Matthias Hartmann, CEO of Techem, stated: 'The new ownership consortium is ideal for Techem because it ensures continuity while also providing fresh impulses for the implementation of our strategy.' 'We look forward to working with them with on the next phase of our growth story as we capitalise on our momentum to further expand our position as the leading platform for the digitalisation and decarbonization of the building sector in Europe and beyond,' he adds.
Bloomberg
6 days ago
- Business
- Bloomberg
Partners Group Is in Talks to Hand Smurf Toymaker to Creditors
By and Arno Schuetze Save Partners Group -owned Schleich is discussing a debt restructuring that could see the private equity firm hand over the keys of the German toy company to its creditors, people with knowledge of the matter said. The firm's lenders, including credit firms Investec and H.I.G., are offering to inject €5 million ($5.8 million) of fresh capital to address its immediate liquidity needs, they said. Blackstone Inc. is also involved in the talks as it's managing some loans for other institutions, some of the people said.
The Sun
6 days ago
- Business
- The Sun
Full list of 72 Côte Brasserie restaurants at risk of closure as chain ‘up for sale' – is one getting the chop near you?
POPULAR French restaurant chain Côte Brasserie is on the brink – with all 72 of its UK sites at risk of closure as the company is officially put up for sale. The upmarket bistro chain, loved for its croque monsieurs and steak frites, has already shut several sites. 2 2 While around 60 branches are said to be profitable, insiders warn that underperforming locations could be axed if no buyer is found. Private equity firm Partners Group, which rescued Côte from collapse in 2020, has now called in Interpath Advisory to find a buyer – sparking fears of a major shake-up across the chain. Several restaurants have already bitten the dust, including Gloucester Quays, which closed earlier this year, and Hampstead, which shut after 14 years. The Harrogate branch also closed in April, with hopes of relocating elsewhere in the town. Sources say rising costs, staff shortages, and soaring energy bills have put intense pressure on the business, leaving every branch under review as the sale process unfolds. Now diners across the country are bracing for bad news – and wondering if their go-to Côte is next on the chopping block. Full list of Côte Brasserie locations that have closed: Gloucester Quays Hampstead (London) Harrogate Manchester (St Mary's Street, Deansgate) Trinity Leeds Haywards Heath Full list of Côte Brasserie locations currently operational, but at risk: Barbican Covent Garden Hay's Galleria Kensington Marylebone Sloane Square Soho St Christopher's Place St Katharine Docks St Martin's Lane St Paul's Barnes Blackheath Chislehurst Chiswick Ealing Kingston Muswell Hill Richmond Royal Festival Hall Teddington Wimbledon Basingstoke Bluewater Brighton Canterbury Chichester Esher Farnham Guildford Hanley on Thames Horsham Lewes Marlow Newbury Oxford Reading Reigate Tunbridge Wells Winchester Windsor Woking Wokingham Bath Bournemouth Bristol - Clifton Village Bristol - Quaker Friars Cheltenham Cirencester Dorchester Exeter Salisbury West Bridgford Bishop's Stortford Bury St Edmunds Cambridge Chelmsford Norwich Peterborough St Albans Welwyn Garden City Cardiff Bay Cardiff Central Chester Liverpool Newcastle York Edinburgh Leamington Spa Shrewsbury Solihull Worcester What happens next? All 72 Côte Brasserie branches are on the chopping block as the chain goes up for sale – but that doesn't mean they'll all shut. While some fan-favourite spots could be spared, every single restaurant is under review, and it all comes down to the buyer, the books, and the bottom line. Huge restaurant chain 'up for sale' putting 70 sites at risk of closure Only the most profitable sites are likely to survive, so diners are being warned: no location is safe just yet. Chair of UK Hospitality, Kate Nicholls, said: "If we carry on with these trends and the situation doesn't improve - and clearly Rachel Reeves 's statements are giving a signal to consumers that it is not going to get better any time soon - then I would see this accelerating. "Unless there is a change of tack by the government, we are looking at 150,000-200,000 fewer workers in hospitality during the first full year of [employer national insurance contribution] changes." What is happening to the hospitality industry? By Emily Mee, Consumer reporter RESTAURANTS and pubs have faced a series of blows in recent years. The pandemic had already hit businesses hard as hospitality venues were forced to close during lockdowns. Then they were dealt another blow when the cost of living crisis ramped up, causing customers to spend less on eating out. At the same time they've been dealing with higher costs of things like energy, rents and supplies. More recently they've also been hit by the Government's hike in National Insurance costs for employers. At the same time, the national minimum wage increased - making it more expensive to hire employees. It's led to numerous chains collapsing or having to close sites in recent years. TGI Fridays collapsed into administration last year, although has since launched a huge comeback after being forced to close 35 restaurants. Britain's largest fish and chip chain, Deep Blue Restaurants, has also sold off five of its popular sites. The brand owns popular chain Harry Ramsden's. Plus, dim sum chain Ping Pong has closed all of its locations across the country after reporting it had faced "significant disruption" due to the pandemic.
Arabian Business
6 days ago
- Business
- Arabian Business
Mubadala becomes part of new consortium to acquire Techem for $7.9bn
Mubadala Investment Company, Abu Dhabi's sovereign wealth fund, is acquiring Germany's Techem, an international provider of digitally enabled solutions for the real estate sector, for a total consideration of AED 29 billion (US$7.9 billion). 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, are the other involved companies. The transaction is expected to close in the second half of 2025, subject to customary conditions and regulatory approvals. Founded in 1952, Techem serves over 440,000 customers across 18 countries and manages more than 13 million dwellings. About 62 million of its devices are installed worldwide, helping the property industry and private landlords improve energy efficiency, cut consumption, costs, and CO 2 emissions through low-cost, non-invasive methods. Techem's services contribute to the long-term decarbonisation of the real estate sector, which accounts for around 40 per cent of global CO 2 emissions. In 2018, Techem was acquired by a consortium led by Partners Group's Private Equity business, alongside co-investors La Caisse and Ontario Teachers' Pension Plan. The group oversaw a period of strong growth at the company, with revenues reaching over EUR1 billion (US$1.17 billion) and EBITDA growing around 50 per cent. As part of the new transaction, the earlier consortium will exit their stakes in Techem and the new ownership consortium will implement a value creation plan focused on strengthening its position as a leading digital-first provider of submetering solutions for the real estate sector across Europe. This will be done by further digitalising operations, adding complementary offerings such as smart meters, and enabling other digital services focused on improving building efficiency. Abdulla Mohamed Shadid, Head of Energy and Sustainability at Mubadala's Private Equity Platform, commented: 'The decarbonisation 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. '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.' Following the acquisition, Partners Group's infrastructure business will have a controlling stake in Techem on behalf of its clients. David Daum, Partner, Head Infrastructure Europe, Partners Group, added: 'Over the past seven years, together with La Caisse and Ontario Teachers', our private equity business built Techem into a global energy services provider. We see great potential for the company moving forward and are pleased to be able to continue to actively drive this success story with our new investors GIC, TPG Rise Climate, and Mubadala. Energy efficiency is a key thematic focus, and Techem is poised to continue benefiting from the thematic tailwinds of the push for decarbonisation.'
Arabian Post
6 days ago
- Business
- Arabian Post
Consortium Secures €6.7bn Techem Buyout to Accelerate Digital Decarbonisation
Arabian Post Staff -Dubai Abu Dhabi's Mubadala Investment Company, Partners Group, GIC and TPG Rise Climate have agreed a €6.7 billion deal to acquire Techem, the Frankfurt-based energy‑efficiency firm, in a strategic move poised to reinforce digital-first submetering and sustainability in European real estate. The transaction—set to conclude in the second half of 2025, pending regulatory approvals—will see Partners Group's infrastructure arm retain a controlling stake, while Mubadala, GIC and TPG Rise Climate take minority positions alongside, marking a rotation in ownership strategy. The sale ends the tenure of the prior consortium including La Caisse and Ontario Teachers' Pension Plan, which supported Techem since 2018. ADVERTISEMENT Techem, founded in 1952 and based in Eschborn, operates in 18 countries and serves more than 440,000 customers with over 13 million dwellings under its care. Approximately 62 million devices are currently installed across its footprint. Under Partners Group's 2018 private equity-led acquisition, Techem grew its sales beyond €1 billion and increased EBITDA by nearly 50%. This expansion solidified its role as a leading provider of submetering services—a crucial component in the decarbonisation of real estate, a sector responsible for around 40% of global CO₂ emissions. The new ownership strategy aims to deepen digital integration, expand offerings to include smart meters, and capitalise on evolving regulations, rising energy prices and corporate net-zero commitments. 'Techem is at the forefront of energy services and is uniquely positioned to drive energy efficiency within the real estate sector,' noted Boon Chin Hau, CIO of GIC Infrastructure, underscoring the group's confidence in Techem's strategic outlook. Abdulla Mohamed Shadid, Head of Energy and Sustainability at Mubadala's private equity platform, emphasised the importance of helping find solutions to global challenges, reflecting the company's ongoing shift toward purpose-driven capital deployment. Implementation will include further digitalisation of operations and service expansions tailored to improve building efficiency. This deal, valued at €6.7 billion, ranks among the year's largest private‑market transactions globally. Techem's technology deploys submetering for heating and water, enabling accurate billing and encouraging lower consumption. Their low‑investment, non‑invasive approach aligns well with landlords and property owners seeking cost-effective energy solutions. Trends in European regulation and growing pressure on emissions reduction give the firm a favourable market tailwind—a factor the new consortium appears ready to exploit. Despite an earlier attempt by TPG to buy out Techem independently in October 2024, that bid fell through after EU antitrust scrutiny. The current agreement reflects a more collaborative structure that shares risk and maintains continuity under infrastructure stewardship. Commenting on continuity, Techem's CEO Matthias Hartmann stated that the company's strategic direction would remain unchanged, emphasising a steady course under the incoming partners. The transaction parallels broader investment patterns in smart‑energy firms. Over the past year, GIC has partnered with investors such as EQT to acquire UK smart‑meter provider Calisen—a sign of growing interest in climate‑aligned infrastructure. With assets under management spanning global private markets, Partners Group leads the infrastructure side with over US$27 billion, while Mubadala and GIC bring sovereign-backed financial clout, and TPG Rise Climate adds dedicated impact‑investment expertise; together they form a powerful alliance geared towards scaling energy efficiency across European real estate.
