Transaction Details

May 18, 2021
Munich

Sector

Technology, Industrials and Industrial Technology, Business Services

Deal Type

M&A, ESG

Deal Value

€38m

Deal Team

Axel Bauer, Timo Maier, Moritz Schmidt

GCA Altium advises tado° on a strategic partnership and growth investment of EUR 38m

GCA Altium acted as exclusive financial advisor to tado°, the leading intelligent home climate management platform in Europe, on a growth investment of EUR 38m from noventic group and existing shareholders.

tado° provides smart solutions to heat and cool all houses intelligently and, as climatisation of buildings represents the single largest source of CO₂ emissions today, addresses the most prevalent environmental challenge facing the planet too. As the only cross-manufacturer platform, tado°’s technology connects with any kind of heating or cooling system, making it the only smart climatisation solution with full heating system compatibility. Customers benefit from energy-saving technology including geofencing and open window detection as well as from remote heating diagnostics. The tado° B2B offering helps utilities to transform their business model from commodity providers to service providers and supports HVAC OEMs and installers to digitise their products and services.

tado° and noventic, a pan-European group of companies for climate-smart real estate, will enter a strategic partnership to develop and distribute new energy-efficient proptech solutions for the commercial housing market. The investment will also be used to drive technologies for sustainable heat generation, OEM solutions for heating and cooling manufacturers, and for expanding into new markets. The new partnership will offer new and better energy efficiency and digitalisation solutions to a huge new market of multi-family homes and commercial buildings. At the same time tado° will continue to drive its consumer business and its solutions business for utilities and heating service companies.

Commenting on the growth investment, Toon Bouten, CEO of tado°, said: “The partnership with noventic will kickstart new proptech solutions for the commercial housing market and we’re thrilled to be partnering with noventic who have a wealth of experience in this sector. As a leader in intelligent home climate management, tado° is in an excellent position to bring our energy-efficient solutions to this rapidly-transforming market.”

Elaborating on the transaction process, Toon Bouten added: “We couldn’t be happier with the outcome and are delighted to have found the right partner for tado° with the help of GCA Altium. It was a true pleasure and fun to work with the entire GCA Altium team. Their dedication, flawless execution, and also the fact that they were able to act as a well-informed and output-oriented sparring partner for us, proved a great help.”

This transaction represents GCA’s 32nd global property tech advisory transaction since 2017, reflecting our leading position in this space and also underlining our strong ESG track record too.

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