Partners Group-led buyout of Switzerland’s Techem to include €465 million eight-year notes

By Paul A. Harris

Portland, Ore., July 5 – Financing for the buyout of Techem Energy Metering Service GmbH will include €465 million of eight-year notes, market sources say.

Credit Suisse, Credit Agricole and Deutsche Bank will be involved, with other syndicate names expected to be announced.

The deal is expected to materialize during the second half of the year.

However, it could be close at hand given that the Techem €2.34 billion term loan, which is also part of the buyout financing, is presently in the market, sources say.

Private equity firm Partners Group heads up a consortium of investors including Caisse de depot et placement du Quebec and Ontario Teachers' Pension Plan, as well as Techem's management team, which intends to acquire the Baar-Zug, Switzerland-based provider of utility metering products and related services.

The deal to acquire Techem, which has an enterprise value of €4.6 billion, is expected to close in the third quarter of 2018.

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