Deal Announcement 09/25: Energy

The Deal

The German PwC Deals Energy team and PwC Legal are pleased to announce the successful sale of a portfolio of decentralized energy generation plants being located at 140 sites far beyond Berlin and owned by BEW Solutions GmbH (BEWS) – a 100% subsidiary of BEW Berliner Energie und Wärme GmbH (BEW) to EGC Energie- und Gebäudetechnik Control GmbH & Co. KG (EGC), an energy services provider based in Düsseldorf. EGC is a portfolio company of international private equity investor KKR. The purchase agreement was signed in June 2025 and closed in September 2025. 

PwC Germany acted as Lead Sell-side M&A Advisor and PwC Legal acted as exclusive Legal Advisor (i.e. comprehensive legal advice including APA draft and negotiations) for BEWS. 

BEW Solutions GmbH

BEW Solutions GmbH (BEWS) is a wholly owned subsidiary of BEW Berliner Energie und Wärme GmbH (BEW).

BEW operates the largest district heating network in Western Europe. BEW was acquired by the State of Berlin from Vattenfall Group in 2024. 

BEWS operates a portfolio of decentralized energy and heat generating plants and thus contributes to the sustainable and reliable heat supply for its customers.

With this transaction, BEWS has sold its generation plants located outside of Berlin. Thus, the she sale of generation plants located outside Berlin follows the new strategic focus set by the new owner - Land Berlin - to concentrate on decarbonizing the Berlin heat supply and implementing the heat transition locally.

EGC Energie- und Gebäudetechnik Control GmbH & Co. KG (EGC)

EGC is an energy services company headquartered in Düsseldorf. The company specializes in the operation, optimization, and maintenance of decentralized energy generation systems for industrial, residential, and commercial customers. By acquiring BEWS’s decentralized plants, EGC strengthens its position in the distributed heat generation market and expands its footprint across Germany.

PwC

The global PricewaterhouseCoopers (PwC) network is a worldwide association of independent auditing and consulting firms that together employ more than 364,000 people in 151 countries. PwC provides audit, tax, legal, and advisory services to clients worldwide.

PwC Germany’s Deals Energy Team was established in 2019 and is headed by Steffen Apfel. It combines deep sector expertise in energy with trusted relationships to deliver successful and sustainable transactions.

PwC acted as exclusive M&A and legal advisor to BEW Solutions GmbH in this transaction. The transaction underscores PwC’s ability to deliver integrated, multidisciplinary support, combining legal, M&A, valuation, and sector-specific expertise to achieve successful outcomes for clients in the energy and infrastructure sectors.

Advisors to BEW Solutions GmbH

PwC Germany – Deals Energy:
Steffen Apfel, Marco Minnerup, David Spohn, Maximilian Pfirrmann, Miguel Bänfer (all Energy M&A); Jan-Philipp Sauthoff, Philip Martin, Osama Mohammad (all Valuation, Modeling & Analytics).

PwC Legal:
Ivo Dreckmann, Dr. Jan Dietrich Harmjanz, Dr. Danielle von Hegel (all Legal Deals/M&A); Thorben Kloppenburg (all Energy Law).