TENZING Partners acted as exclusive financial advisor to the shareholder of Grethen S.à r.l. on the sale of the company to Teseos Group.

Founded in 1945, Grethen specializes in installing and maintaining heating, ventilation, and sanitary systems. With 41 employees and €4.6 million in sales as of October 2022, the company is well-established in the residential sector, offering services such as boiler and heat pump installations, bathroom fittings, and maintenance contracts. Grethen has a strong brand presence in Luxembourg and is experiencing significant growth in heat pump sales, addressing the transition to sustainable energy solutions.

Teseos Group is a Luxembourg-based technical service provider specializing in industrial electrical equipment, cooling systems, energy distribution, and facility management. As part of the Encevo Group, Luxembourg’s leading energy provider, Teseos contributes to the region’s energy transition by delivering sustainable infrastructure solutions across multiple sectors.