DC Advisory advises Tikehau Capital on its acquisition of TTSP HWP

Background

• Headquartered in Frankfurt, TTSP HWP Group (TTSP HWP) is a leading technical advisory firm specialising in end-to-end design and engineering for complex data centres, ensuring top-tier sustainability standards
• In 2023, funds advised by Adiuva Capital acquired a majority stake in TTSP HWP
• Headquartered in Paris, Tikehau Capital is a global alternative asset management firm, with € 47.1bn assets under management. Tikehau Capital focuses on four main asset classes (real assets, private equity and capital markets strategies) with a dedicated private equity decarbonisation strategy

Process

• DC Advisory was exclusively engaged by Tikehau Capital to provide buy-side M&A and debt advice in relation to the acquisition of TTSP HWP
• DC Advisory leveraged its extensive experience in buy-side transactions, its familiarity with TTSP HWP, deep knowledge across the design and engineering services, as well as the data centre sector, to assist Tikehau Capital throughout the acquisition process
• DC Advisory provided comprehensive financial and strategic advice, assisting with process and due diligence coordination, valuation, financing and negotiation advice
• DC Advisory was able to deliver a successful transaction for Tikehau Capital within a strict timeline and competitive sale process

Outcome

• Tikehau Capital, through its private equity decarbonisation strategy, signed a definitive agreement to acquire TTSP HWP in January 2025
• The closing of this transaction is subject to customary closing conditions and financial terms of the transaction were not disclosed
• Tikehau Capital’s investment supports TTSP HWP’s growth from a leader in Germany to a leading pan-European player
• The current managing partners, who hold a significant stake in the company, have reinvested substantially and remain actively involved
• This transaction again highlights DC Advisory’s expertise in the design and engineering services sector