Latest news with #JMGGroup
Yahoo
14-05-2025
- Business
- Yahoo
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. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
13-05-2025
- Business
- Yahoo
GTCR Announces Investment in JMG Group
GTCR partners with CEO Nick Houghton and Synova to accelerate JMG's expansion across the UK insurance market CHICAGO, May 13, 2025 /PRNewswire/ -- GTCR, a leading private equity firm, announced today that it has signed a definitive agreement to acquire leading UK insurance broker JMG Group ("JMG" or the "Company"), in partnership with existing investor Synova LLP ("Synova"), a leading European mid-market investor. GTCR and Synova will collaborate to support JMG's strong existing management team, led by CEO Nick Houghton, which will continue to operate the business and retain substantial equity ownership. Headquartered in Leeds, United Kingdom, JMG Group is a leading UK insurance broker providing comprehensive risk management solutions to small and medium-sized enterprises and high-net-worth individuals. Founded in 2020 through a partnership between CEO Nick Houghton and Chairman Tim Johnson, JMG has rapidly scaled into a top 30 UK broker, placing over £350 million in gross written premium annually. With a team of over 750 insurance professionals across the country, JMG has a differentiated strategy of acquiring local and regional brokerages and leveraging its platform to enable local offices to deliver above-market organic growth. JMG represents the latest partnership in GTCR's long history of investing in the insurance ecosystem. GTCR previously founded brokerages Alliant Resources and AssuredPartners and invested in high-net-worth insurance brokerage Winged Keel, insurance carrier Ironshore and insurance technology and data companies itel, Solera and UK-based Premium Credit Limited. This partnership with JMG further builds on that track record as GTCR continues supporting leading platforms across the entire insurance value chain. "JMG is an exceptional business with a proven track record of M&A execution and organic growth, driven by the outstanding leadership of Nick Houghton and his team," said Aaron Cohen, Managing Director and Head of Financial Services & Technology at GTCR. "At GTCR, we empower talented leaders to drive transformational growth in great businesses, while preserving the values and culture that made them successful. We believe Nick and the JMG team exemplify this approach, and we are excited to partner with them to support the next phase of growth, drawing on insights from our decades of successful investments in the insurance sector." "From the start, we've built JMG with a client-first culture and a centralized platform that enables our teams to deliver exceptional service. That foundation has fueled our rapid growth and made JMG a natural home for entrepreneurial brokerages across the UK," said Nick Houghton, CEO of JMG Group. "With the GTCR partnership, we're joining forces with a team that shares our long-term vision and core values, and we look forward to leveraging their expertise to accelerate our growth and continue delivering lasting value to our trusted clients." "The JMG partnership builds on GTCR's successful track record of backing proven leaders and high-quality businesses across Europe, particularly in markets like the UK insurance sector where we have deep history across several deals, including Premium Credit Limited and Callcredit Information Group. That history creates domain expertise and conviction regarding the sector's strong long-term fundamentals," said Michael Hollander, Managing Director at GTCR. "We're excited to support JMG in partnership with Synova during this next chapter and help accelerate their continued growth in a market and geography we know well." The transaction is expected to close in the third quarter of 2025. Morgan Stanley & Co. LLC and Jefferies Group LLC acted as financial advisors, and Kirkland & Ellis LLP acted as legal counsel to GTCR. About GTCR Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $30 billion in over 280 companies, and the firm currently manages more than $45 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. For more information, please visit Follow us on LinkedIn. About Synova Synova is recognized as one of Europe's most innovative growth investors, generating market leading returns investing in companies valued between £20 and £250 million in the UK, Ireland, and continental Europe. Synova has been consistently recognized as one of the best performing global managers by industry benchmark, Preqin, and was recently awarded Private Equity House of the Year at the 2025 Private Equity Awards. About JMG Group JMG Group was established in 2020 following a management buyout of JM Glendinning Insurance Brokers led by Group CEO Nick Houghton and backed by Synova. The JMG Group has ambitious growth plans, built upon supplementing strong organic growth with a series of complementary strategic acquisitions. Now operating with a team of over 750 colleagues across 45 offices – stretching from the highlands of Scotland to the south coast of England – JMG Group has built its reputation as one of the UK's leading insurance brokers through its quality team and range of client services. GTCR Media Contact:Prosek PartnersJosh Clarkson / Ryan Smith212-279-3115 pro-GTCR@ Synova Media Contact:press@ View original content to download multimedia: SOURCE GTCR
Yahoo
24-04-2025
- Business
- Yahoo
JMG Group expands with triple deal
JMG Group, through its subsidiaries GS Group, Greenwood Moreland and Lighthouse Risk Services, has carried out three acquisitions for an undisclosed sum. JMG Group CEO Nick Houghton emphasised the acquisitions as 'balancing entrepreneurial autonomy with Group-wide support'. GS Group acquired W K Insurance, a Scottish broker with a history spanning more than 40 years. This acquisition brings a team of seven professionals to GS Group, including newly appointed managing director Scott King. King, who succeeds Kevin King in the role, brings multinational experience, including the London market. Kevin said: 'Scott's appointment, along with our integration with GS Group, future-proofs the business. We are pleased to join a wider network while staying committed to delivering excellent client service.' Greenwood Moreland has taken over UKI Direct, a broker based in York, UK, that serves small and medium-sized enterprise clients nationwide. The acquisition sees three broking professionals join Greenwood Moreland, with Ian Donald taking the helm in a planned succession from former owner Mike Howard. This move increases Greenwood Moreland's gross written premium by £2.5m ($3.32m), pushing its total placed premiums to more than £58m across its seven UK sites. Lighthouse Risk Services has acquired TSE Solutions, a Leeds-based company specialising in customised risk management. The acquisition is the culmination of a professional relationship between Lighthouse director Chris Hall and TSE Solutions managing director Antony Eckersley. Eckersley stated: 'This enhances our service offering in the health and safety market. We have long admired Lighthouse's high standards and look forward to strengthening our proposition as part of the Group.' Eckersley will join the Lighthouse team, continuing to serve his existing clientele while also contributing to business development. JMG Group CEO Nick Houghton says: 'These acquisitions reflect the strength of our businesses and their confidence in the support we provide. Each firm has identified and seized growth opportunities that align with their values and ambitions. Our role is to support them – providing infrastructure, financial backing and operational expertise – while enabling them to grow independently and make sound commercial decisions.' Last year, JMG Group, through JM Glendinning North Yorkshire, acquired C P Bennett, a personal and commercial lines insurance broker based in Bridlington. "JMG Group expands with triple deal " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
24-04-2025
- Business
- Yahoo
JMG Group expands with triple deal
JMG Group, through its subsidiaries GS Group, Greenwood Moreland and Lighthouse Risk Services, has carried out three acquisitions for an undisclosed sum. JMG Group CEO Nick Houghton emphasised the acquisitions as 'balancing entrepreneurial autonomy with Group-wide support'. GS Group acquired W K Insurance, a Scottish broker with a history spanning more than 40 years. This acquisition brings a team of seven professionals to GS Group, including newly appointed managing director Scott King. King, who succeeds Kevin King in the role, brings multinational experience, including the London market. Kevin said: 'Scott's appointment, along with our integration with GS Group, future-proofs the business. We are pleased to join a wider network while staying committed to delivering excellent client service.' Greenwood Moreland has taken over UKI Direct, a broker based in York, UK, that serves small and medium-sized enterprise clients nationwide. The acquisition sees three broking professionals join Greenwood Moreland, with Ian Donald taking the helm in a planned succession from former owner Mike Howard. This move increases Greenwood Moreland's gross written premium by £2.5m ($3.32m), pushing its total placed premiums to more than £58m across its seven UK sites. Lighthouse Risk Services has acquired TSE Solutions, a Leeds-based company specialising in customised risk management. The acquisition is the culmination of a professional relationship between Lighthouse director Chris Hall and TSE Solutions managing director Antony Eckersley. Eckersley stated: 'This enhances our service offering in the health and safety market. We have long admired Lighthouse's high standards and look forward to strengthening our proposition as part of the Group.' Eckersley will join the Lighthouse team, continuing to serve his existing clientele while also contributing to business development. JMG Group CEO Nick Houghton says: 'These acquisitions reflect the strength of our businesses and their confidence in the support we provide. Each firm has identified and seized growth opportunities that align with their values and ambitions. Our role is to support them – providing infrastructure, financial backing and operational expertise – while enabling them to grow independently and make sound commercial decisions.' Last year, JMG Group, through JM Glendinning North Yorkshire, acquired C P Bennett, a personal and commercial lines insurance broker based in Bridlington. "JMG Group expands with triple deal " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
