The acquisition of GETEC, a leading energy services company for real estate and industry, by Infrastructure Investment Fund (IIF) was finalised on 12 April 2022. IIF now owns 100% of the GETEC Group.
GETEC manages a portfolio of more than 11,500 energy assets in nine European countries with a total installed capacity of more than 5.4 GWth, saving more than 610,000 tonnes of CO2 per year.
GETEC is a leading specialist in contracting sustainable energy solutions on a pan-European scale, with a well-established Net-Zero roadmap to 2045.
The acquisition of GETEC Group by Infrastructure Investment Fund (IIF), an investment fund advised by J.P. Morgan Investment Management Inc. was legally finalised on 12 April 2022. With the closing of the transaction, all contractual conditions as well as the necessary antitrust controls have been completed.
In November 2021, previous investors EQT Infrastructure III (EQT) and GETEC Energie Holding GmbH (GEH) entered into a sale and purchase agreement with IIF for 100% of the shares in GETEC.
GETEC provides sustainable, smart and efficient energy solutions to customers in the real estate and industrial sectors across Europe. The company has achieved tremendous growth and now has more than 11,500 installations in nine European countries, with a total installed capacity of more than 5.4 GWth and more than 2,200 employees. In addition to strong organic growth, GETEC has transformed itself in recent years from a German market leader to a pan-European market leader through six major mergers and acquisitions, and has established independently operating regional platforms in Switzerland, Italy and the Netherlands, as well as in Germany.
For more information about the GETEC Group, please visit: www.getec-energyservices.com
GETEC is already saving more than 610,000 tonnes of CO2 per year for its customers. Matthew LeBlanc, Chief Investment Officer at IIF, said: “We are delighted to have reached this milestone of completing the acquisition of GETEC and acquiring a world-class company from EQT and Dr Karl Gerhold. GETEC is well positioned to grow as a market leader providing innovative, safe and green energy solutions to its customers, shareholders and communities. We look forward to working with CEO Thomas Wagner and the management team to support GETEC’s growth strategy for energy transformation in Europe.”
Matthias Fackler, Partner in the EQT Infrastructure advisory team, said: “GETEC has been at the heart of the energy transformation in Europe since the company was founded in 1993 and we are proud to have been able to accelerate this key mission over the past five years. Today, GETEC is uniquely positioned to continue to lead and benefit from the global drive towards decarbonisation, enabling it to achieve excellent long-term growth. With IIF, we have found a very good new owner who will support this.”
Dr Karl Gerhold, founder of GETEC and managing shareholder of GEH, said: “I would like to thank EQT for the path we have travelled together. GETEC is now in an even better position and is a leading provider of solutions for industry and real estate, with a view to a good climate policy in the future. I am delighted that, thanks to IIF, a new owner will take over the company to continue on this path and further develop the company.”
Thomas Wagner, CEO of GETEC, added: “We are very happy to have gained a strong, long-term oriented owner like IIF, who has extensive experience in the energy sector and certainly shares the same passion for sustainable energy solutions as we do at GETEC. With EQT and GEH, GETEC has taken a huge step towards becoming the leading provider of decentralised energy services in Europe. IIF is the right partner to continue GETEC’s mission to support industrial and real estate customers across Europe on their path to decarbonisation.”
About Infrastructure Investment Fund (IIF)
IIF is a private investment fund dedicated to investing in critical infrastructure. The IIF is responsible for investing and growing the pension funds of more than 60 million families. The fund is managed by a dedicated infrastructure investment group within J.P. Morgan Investment Management Inc. IIF is a long-term owner of companies that provide essential services such as renewable energy, water, natural gas and electricity, and transport infrastructure, all of which are vital to the economic health and productivity of the communities in which it operates. Providing such essential services requires IIF companies to be well managed, have a strong culture and care for the environment to meet the social responsibility of their operations.
About the GETEC Group (G+E GETEC Holding GmbH)
GETEC is a leading partner to industry and the real estate sector for smart, efficient and green energy solutions in Europe. Our promise “We have energy for more” is the guiding principle for our more than 2,200 employees, who use excellent engineering expertise, exceptional regulatory competence, high speed and proven sustainability knowledge to guide our customers through an increasingly complex energy world while reducing their carbon footprint. With 11,500 installations generating more than 5.4 GW of thermal energy, GETEC operates in nine countries through its four regional platforms in Germany, Switzerland, the Netherlands and Italy, generating sales of almost one billion euros in 2021.