GETEC is the leading German decentralized heat, power and cold contracting and energy services company. Services are provided under long-term contracts to industrial clients as well as to the real estate/housing sector.
GETEC was founded by Dr Karl Gerhold in 1993 and is today one of the market leaders in energy services in Germany. The GETEC brand stands for tailor-made, efficient and sustainable energy solutions, implemented by a group of highly qualified engineers. The group currently operates around 8000 decentralized energy production plants in Germany and neighboring markets.
The EQT Infrastructure investment strategy has entered a strategic partnership with GETEC. The partnership will jointly develop the companies GETEC heat & power and GETEC WÄRME & EFFIZIENZ under a newly formed joint venture company G+E GETEC Holding GmbH. EQT Infrastructure will own 70 percent of the joint venture company.
Market trends and drivers
The outlook for the overall energy services market is very positive. The highly attractive German energy contracting market (i.e. engineering, procurement, building, ownership, supply, and long-term operations and maintenance of assets) has a size of approx. € 4 bn.
As only a small portion of the addressable market is currently tapped, there is significant potential for further market growth from increasing penetration. Today, the heat market is still dominated by self-suppliers with own heat solutions, while regulation increasingly opens up the market for contracting solutions – especially in the housing sector.
Energy policy worldwide drives the energy efficiency megatrend and is expected to result in more complex integrated and decentralized systems as key solutions that drive energy solution business and contracting offers.
In Germany, GETEC is considered to be the market leader in energy contracting.
GETEC has a proven business model with a sound and unique value proposition to industrial, housing and public customers. The aim of the partnership is to further strengthen and expand the activities of GETEC heat & power and GETEC WÄRME & EFFIZIENZ. The strategy includes identifying and capturing growth opportunities both in Germany and by further expanding into neighboring markets.
Key events since EQT investment
- Add-on acquisition of Urbana, a leading provider of energy contracting and areal district heating grids in Germany, closed in June 2017
- Add-on acquisition of BBE, a portfolio of 6 biomass CHP plants in Germany, closed in November 2017
- Add-on acquisition of Infrapark Baselland AG, a utility infrastructure provider servicing the production sites of Novartis, Clariant, BASF and Bayer in Basel, Switzerland, closed in January 2019