Magnesium Capital partners with TMA, a UK leading provider of metering, data, smart infrastructure & energy services to energy suppliers, third-party intermediaries and corporates
This investment supports TMA’s continued growth and its central role in the electricity market’s transition to Market-wide Half-Hourly Settlement (“MHHS”), advancing Magnesium’s strategy to accelerate the Energy Transition through the digitisation of GB’s energy system
London, UK – 3rd September 2026 – The shareholders of UK-based TMA Group Holdings Limited (“TMA” or the “Company”), a leading provider of metering, data, smart infrastructure and energy services to the GB energy market, have agreed the sale of a majority stake to funds advised by Magnesium Capital LLP (“Magnesium”). Magnesium will partner with TMA’s founder and management team as the Company enters its next phase of growth, underpinned by the GB electricity market transition to Market-wide Half-Hourly Settlement (“MHHS”).
Founded in 1987 and an Elexon Qualified Agent since 2006, TMA plays a critical role in the GB energy market, providing trusted metering and energy data services across more than 8.5 million electricity meter points and supporting many of the market’s leading suppliers, third-party intermediaries and corporate customers. Its integrated NexFlow platform and end-to-end service offering help customers improve billing accuracy, settlement performance and regulatory compliance, while actively delivering the transition to MHHS.
As the GB electricity market completes its smart meter rollout and moves to half-hourly settlement of every meter through the MHHS programme, the importance of trusted half-hourly data continues to grow. Accurate, timely energy data is the backbone of a decarbonised, decentralised and digitised energy system.
Accurate interval data enables suppliers to develop innovative tariffs, improve customer outcomes, support flexibility services, electric vehicle charging, low-carbon technologies and other innovations that will shape the future energy market. TMA’s expertise, technology and proven delivery capabilities place the business at the centre of this transformation.
Founder Tim Meyer, who established TMA in 1987, will continue to support the business as Non-Executive Director, and members of the management team, including Group Managing Director, Rob Kitchen, have invested alongside Magnesium and will remain in their roles.
Rob Kitchen, Group Managing Director of TMA, said: “The GB energy market is entering one of the most significant periods of change it has seen in decades. As Market-wide Half-Hourly Settlement becomes a reality, the importance of accurate, trusted and timely energy data will only increase.
For almost forty years, TMA has helped suppliers, third-party intermediaries and corporates navigate industry change through deep market expertise, trusted technology and an unwavering focus on service. That experience places us in a strong position to support customers through the next phase of market transformation.
Magnesium’s investment reflects the strength of our market position, the quality of our people and the growing importance of the services we provide. Together, we share a clear ambition to build on those foundations, investing in our capabilities, expanding our reach and continuing to set the standard for energy data management.
Energy systems run on data. As the market becomes more connected, more dynamic and more complex, the role of trusted energy data will become increasingly critical. TMA is exceptionally well positioned for that future, and this partnership gives us the platform to strengthen our leadership position while continuing to deliver the expertise, assurance and service our customers depend on every day.”
Daniel Wild, Partner at Magnesium Capital, said: “The energy transition is not only about how power is generated – its delivery depends on the data and intelligence that make the energy system work. TMA sits at the heart of that data layer, providing the mission-critical metering and settlement data services that suppliers and the wider market rely on. With MHHS driving structural growth and a clear opportunity to expand into commercial and industrial metering, we’re delighted to partner with Tim, Rob and the team as they take TMA into its next phase of growth.”
Magnesium was advised by Walker Morris (legal), EY (financial & tax), EY-Parthenon (commercial), KPMG (technology), ESG Capital Group (ESG & Impact) and PwC Debt Advisory. Debt financing for the transaction was provided by Metro Bank plc. Financial details of the transaction have not been disclosed.
About TMA
TMA is a leading provider of end-to-end metering and energy data management services to the GB energy market. Founded in 1987 and an Elexon Qualified Agent since 2006, TMA captures, validates and aggregates metering data on behalf of energy suppliers, third-party intermediaries (“TPIs”) and corporates. Its integrated NexFlow platform and end-to-end solutions support accurate billing, strong settlement performance and regulatory compliance, and TMA is at the forefront of the industry’s transition to Market-wide Half-Hourly Settlement.
About Magnesium Capital
Magnesium Capital is a London-based Energy Transition-focused private equity firm that invests in fast-growing technology and tech-led businesses that are enabling the shift to a decentralised, decarbonised and digitised energy system. The firm has a flexible investment approach and looks to partner with exceptional management teams to provide capital and strategic support to companies looking to accelerate their growth and enable the ongoing energy transition.
Magnesium Capital LLP is authorised and regulated by the Financial Conduct Authority in the UK.
