JMG: Accelerating Expansion with GTCR & Synova Partnership
Deal News | May 16, 2025 | Re-Insurance News
GTCR, a prominent private equity firm, has entered a definitive agreement to acquire the UK-based insurance broker JMG Group, in collaboration with Synova, a European mid-market investor. Scheduled to finalize in Q3 2025, this acquisition aims to bolster JMG's growth in the UK insurance market. JMG, founded in 2020 by Nick Houghton and Tim Johnson, has rapidly ascended to become a leading broker in the UK, managing over £350 million in annual gross written premium. The company employs over 750 insurance professionals and follows a unique strategy of acquiring regional brokerages to foster organic growth. GTCR and Synova will support JMG’s existing management, allowing them to retain significant equity and continue operating independently. This deal represents GTCR's ongoing commitment to investing in the insurance sector, accompanied by its history with ventures like Alliant Resources, AssuredPartners, and other insurance-related companies.
Sectors
- Insurance
- Private Equity
Geography
- United Kingdom – JMG Group is headquartered in Leeds, UK, and is a key player within the UK's insurance brokerage industry, making this geography relevant.
- United States – GTCR, the acquiring firm, is a US-based private equity company, indicating cross-border investment activity.
Industry
- Insurance – The article focuses on the acquisition of JMG, a UK-based insurance broker, by PE firms GTCR and Synova, highlighting the insurance industry's importance.
- Private Equity – GTCR, a leading private equity firm, is acquiring JMG in partnership with Synova, emphasizing the role of private equity in funding and expanding insurance businesses.
Financials
- 350 million – The annual gross written premium managed by JMG.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| GTCR | Bidding Company | PE Firm | A leading private equity firm known for its investments in various sectors, including insurance. |
| Synova | Partner Investor | PE Firm | A European mid-market investor partnering with GTCR in the acquisition of JMG. |
| JMG Group | Target Company | Company | A UK-based insurance broker offering risk management solutions, founded by Nick Houghton and Tim Johnson in 2020. |
| Nick Houghton | CEO | Person | Chief Executive Officer of JMG Group and co-founder of the company. |
| Tim Johnson | Chairman | Person | Chairman and co-founder of JMG Group. |