Magnesium Capital has agreed to acquire a majority stake in TMA, a provider of end-to-end metering and energy data management services to the GB energy market. Established in 1987, TMA provides 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, according to a press statement. The company's integrated Nex Flow platform and end-to-end service offering help customers improve billing accuracy, settlement performance and regulatory compliance, actively supporting its customers through the transition to Market-wide Half-Hourly Settlement (MHHS).

Trusted half-hourly data is increasingly critical to developing innovative time-of-use tariffs, improving customer billing, supporting flexibility services, electric vehicle charging, low carbon technologies and other innovations that will shape the future energy market, the statement added. TMA managing director Rob Kitchen will continue to lead the business alongside founder Tim Meyer. Members of the management team have invested alongside Magnesium Capital as part of the transaction. Magnesium Capital invests in fast-growing technology and tech-led businesses.