1st July 2026
We are pleased to announce our investment in Business Modelling Applications (“BMA”), a leading software and services platform that provides decision intelligence for utility companies and asset-intensive infrastructure operators.
BMA is FPE’s ninth investment from FPE Fund III. With FPE’s support, the business will accelerate product and technology development, build out its executive team, and invest in its go-to-market function to expand its presence across UK utilities and into adjacent regulated infrastructure markets.
BMA has developed Decisio™, a proprietary decision intelligence platform that helps regulated, asset-intensive operators understand their assets and then plan and prioritise long-term capital investment. Decisio™ replaces fragmented spreadsheet models and consultant-led reviews with configurable, data-driven software that embeds within customers’ regulatory planning cycles, supporting auditable and regulator-defensible investment decisions.
By combining a vertically focused software platform, enriched by pooled client and third-party data, with a high-touch service model, BMA is well positioned to offer a differentiated solution at a time when operators are increasingly required to invest in the long-term modernisation of legacy infrastructure, and need support to do so.
Michael Avant-Smith, CEO of BMA Our customers face increasingly complex investment decisions under tight regulatory and decarbonisation requirements, and Decisio gives them the tools to make those decisions with confidence. Partnering with FPE allows us to invest in our product, our people and our go-to-market capability so we can serve our existing customers better and bring Decisio to operators in adjacent regulated industries.
Connor Trendell, Investment Director at FPE BMA is exactly the kind of business FPE is delighted to support: a software platform delivering a high-quality customer experience to a highly referenceable customer base, addressing a critical market need and offering significant opportunities for future growth. We look forward to supporting them as they continue to scale the business
Tom Webb will join as CFO. Tom is a highly experienced CFO and COO who will take leadership of the finance and operational functions, having worked in a number of private equity-backed businesses previously. Rod Stout, BMA co-founder, will continue to work with the BMA and FPE teams as a board advisor.
The transaction was led by Connor Trendell, Sam Greenberg and Alexis Frey, supported by Dan Walker. FPE was advised on the transaction by Baringa (Commercial Due Diligence), Crosslake (Technology Due Diligence), BDO (Financial & Tax Due Diligence), and Osborne Clarke (Legal). BMA shareholders were advised by Clearwater (Corporate Finance).