JPMorgan Fund to Buy EQT’s Energy Company Getec for $4 Billion

An arm of JPMorgan Chase & Co. agreed to acquire Getec, the German energy services firm backed by buyout firm EQT AB.

JPMorgan’s Infrastructure Investments Fund reached a deal with EQT and Getec founder Karl Gerhold’s family holding company, according to a statement Friday, which confirmed an earlier Bloomberg News report. The transaction values Getec at about 3.5 billion euros ($4 billion), people familiar with the matter said.

IIF beat out private equity and pension fund bidders in the auction, according to the people, who asked not to be identified because the information is private.

The deal marks ...