GTCR seals deal to buy into UK broker JMG Group
Private equity firm GTCR, in collaboration with existing investor Synova, has agreed to acquire UK-based insurance broker JMG Group.
In a statement announcing the move, the broker said it secured 'substantial new equity investment jointly led by Synova and GTCR, alongside the leadership team'.
The existing management team, led by JMG Group CEO Nick Houghton, will maintain 'substantial' equity ownership and continue running the company, with GTCR and Synova working together to support its growth strategies.
The deal, due for completion in the third quarter of 2025 (Q3 2025), awaits regulatory approval.
This capital influx is aimed at accelerating JMG's growth through acquisitions, talent development and platform investment.
Ares Management has extended its support to JMG by offering a new financing facility.
Since Synova's initial involvement in 2020, JMG has completed 46 acquisitions. Synova has been the broker's majority shareholder since 2020.
JMG Group CEO Nick Houghton said: 'I am incredibly proud of what the team has built over the last few years. For JMG to have secured the support of Synova and GTCR as partners for our next chapter of growth is a real privilege. Our philosophy remains simple: invest in great people and businesses, remove the operational distractions and allow our colleagues to focus on winning and retaining customers.'
Last month, JMG Group acquired three entities through its subsidiaries.
GS Group purchased W K Insurance, Greenwood Moreland has taken over UKI Direct and Lighthouse Risk Services has acquired TSE Solutions.
Set up in 2020, JMG Group has a workforce of more than 750 and 45 offices across the highlands of Scotland to the south coast of England.
"GTCR seals deal to buy into UK broker JMG Group " was originally created and published by Life Insurance International, a GlobalData owned brand.
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