Banks, Private Credit Start on €3 Billion Funding for Techem LBO
- Sale of German firm could fetch €8 billion valuation
- Latest high-profile leveraged buyout to be ‘dual-tracked’
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Investment banks and private lending firms are working on plans to provide as much as €3 billion ($3.3 billion) of debt to back a potential buyout of German metering company Techem GmbH, people with knowledge of the matter said.
A consortium led by Partners Group is exploring a sale of Techem, in a deal that could value the business at as much as €8 billion including debt. Both banks and private credit firms have started working on separate potential financing plans for Techem, said the people, who aren’t authorized to speak publicly as the matter is private.