Kirkland & Ellis Advises TPG Rise Climate and GIC on €750 Million Senior Secured Notes Issuance for Techem Buyout.

Kirkland & Ellis has provided legal counsel to TPG Rise Climate and GIC regarding the issuance of €750 million in senior secured notes, a key component of their €6.7 billion leveraged buyout of Techem, a leading provider of smart and sustainable building services. The funds raised from the issuance will be held in a separate bank account managed by the bond issuer until the acquisition is finalized.

Techem’s CEO, Matthias Hartmann, expressed optimism about the company’s future, stating, “With TPG and GIC, we are gaining strong new partners with the digitisation and platform expertise needed to help us make significant progress in implementing our corporate strategy. Together, we want to further expand and advance our position as a leading platform for digitising and decarbonising the building sector across Europe and beyond."

The company’s services focus on improving energy efficiency through digital solutions, offering transparent consumption statistics and streamlined services for tenants, property managers, and asset owners. According to Ed Beckley, a London-based Managing Partner of TPG Rise Climate, Techem’s technology is critical for “lowering costs and improving the environmental impact of real estate assets across Europe.”

Ang Eng Seng, Chief Investment Officer for Infrastructure at GIC, emphasized Techem’s strong track record, noting: "Techem is a well-established energy service provider with a proven track record. Sub-metering is becoming increasingly prevalent in Continental Europe as consumers and regulators focus on energy efficiency. We look forward to supporting the company’s continued growth, alongside TPG and management.”

Techem is a global leader in smart energy solutions for buildings, specializing in digital metering, energy optimization, and sustainability services. Founded in 1952 and headquartered in Germany, Techem serves over 13 million residences across 20+ countries. The company focuses on enhancing energy efficiency, reducing carbon footprints, and providing data-driven solutions to improve building management for property owners, tenants, and managers.

The Kirkland team included capital markets attorneys Tim Volkheimer, Rohan Sahai, Will Taylor, and Hayley Stoate; debt finance attorneys Daniel Borg, Leon Daoud, Jörg Weber, Ashley Bannister, and Daniel Beck; tax attorneys Jared Rusman, Michael Ehret, Nicole Martin, and Emanuel Götz; as well as restructuring attorney Michael Berger.

Kirkland & Ellis is an international law firm with more than 3,500 attorneys who provide legal representation to clients in areas such as private equity, mergers and acquisitions, complex corporate transactions, litigation, dispute resolution and arbitration, restructuring, and intellectual property issues.

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