Tepu Holding acquired by TSG (Technical Services GROUP)
Context
TSG Group acquired Tepu Holding to significantly bolster its subsidiary, TSG Switzerland. This transaction is part of an aggressive buy-and-build strategy, marking the group’s 45th acquisition in four years. The deal allows TSG to nearly double its Swiss workforce (increasing from 105 to 200 employees) and adds €40 Million in annual revenue. Strategically, the acquisition integrates key expertise in medium-voltage and photovoltaic systems, which are essential for delivering "turnkey" electric charging hubs that incorporate local energy production and management.
Tepu Holding, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the Business Services sector (11.5x in 2026).
-> Deep-dive in Business Services market trends
Target
Tepu Holding (Pfanner & Frei + re.com Elektroanlagen) operates two specialized entities in the electrical solutions space. Pfanner & Frei and re.com Elektroanlagen provide expertise across the entire electrical value chain, including low and medium-voltage installations, building automation (smart buildings), IT networks, and lighting. The group has developed a strong competitive edge in electric vehicle charging infrastructure (EVCI) and photovoltaic (PV) solar projects. With a team of 95 professionals, the group provides critical technical skills and established geographical reach in the Swiss market.
Ent. Value
[members only]
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with TSG (Technical Services GROUP)
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 02/2026 | CAPVEST PARTNERS | TSG (TECHNICAL SERVICES GROUP) | FRANCE | Electrical |
| 06/2020 | HLD | TSG (TECHNICAL SERVICES GROUP) | FRANCE | Electrical |
Similar deals in Facility Management
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 03/2026 | ARCUS INFRASTRUCTURE PARTNERS | WIRELESS CCTV | UNITED KINGDOM | Security & Guarding |
| 03/2026 | TIGER INFRASTRUCTURE PARTNERS | ORBIS PROTECT | UNITED KINGDOM | Security & Guarding |
| 02/2026 | CAPVEST PARTNERS | TSG (TECHNICAL SERVICES GROUP) | FRANCE | Electrical |
| 01/2026 | INFLEXION | RANGER FIRE AND SECURITY | UNITED KINGDOM | Security & Guarding |
| 01/2026 | EUROFEU | PIGHI | ITALY | Security & Guarding |
| 01/2026 | HALMA | SAFETEC | ITALY | Security & Guarding |
| 12/2025 | CAPZA | MYRIUM | FRANCE | Maintenance |
| 12/2025 | BAIN CAPITAL / MUBADALA | SERVICE LOGIC | UNITED STATES | HVAC |
| 10/2025 | ANDERA PARTNERS | XELIANS | FRANCE | Document Management |
| 10/2025 | MITIE GROUP | ARGUS FIRE PROTECTION | UNITED KINGDOM | Security & Guarding |
REFERENCES
Revenue range: REV €25–50M
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Tepu Holding by TSG (Technical Services GROUP) are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: tepu holding
Acquirer: tsg (technical services group)
FAQ
What transaction does this page cover?
What was Tepu Holding’s revenue at the time of the deal?
How does the valuation of Tepu Holding compare to benchmarks in the Business Services sector?
What sources support the information on this transaction?
What is mynth?