Tue, 13 May 2025 | BUSINESS NEWS
JMG Group, a highly acquisitive insurance brokers, has agreed a deal for substantial new investment to support its continuing growth plans. The group has announced a new equity investment, subject to regulatory approval, jointly led by Synova and Chicago-based GTCR, alongside the leadership team.
The transaction will also see existing lender Ares Management provide further support to JMG Group via a new financing facility.
The funding will enable the group to continue and accelerate a growth strategy that has seen it completed 46 acquisitions over the past five years, amid a Europe-wide surge in insurance brokerage M&A activity that has been led by the UK market. The group has 45 offices across the UK and a team of more than 700 staff.
JMG Group, which has also generated strong organic growth since Synova’s initial investment in 2020, will now be able to target further acquisitions, as well as investing in talent and platform development.
JMG Group Chief Executive Nick Houghton (pictured above) commented: “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."
Synova Managing Partner and JMG Group non-executive director David Menton said that JMG Group had been one of Synova’s “most successful partnerships to date”, with the group having “delivered outstanding performance – balancing rapid acquisitive growth with strong underlying business fundamentals, while always putting clients first.”
While M&A activity has been booming in the UK insurance industry over the past few years, recent trends have lead to concerns that the wave of insurance consolidation may have peaked and that activity within the UK market may begin to plateau or decline over the coming years.
Read more:
Insurance M&A in the UK - has broker activity peaked?
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