JMG Group to Accelerate UK Expansion with GTCR Partnership
Deal News | May 13, 2025 | PR Newswire Cision GTCR
GTCR, a leading U.S.-based private equity firm, has entered a definitive agreement to acquire JMG Group, a top UK insurance broker, in partnership with Synova LLP, a European mid-market investor. JMG, valued for its strong M&A execution and organic growth, will continue to be led by CEO Nick Houghton. JMG operates a substantial network, having scaled rapidly since its founding in 2020, and currently places over £350m in gross premiums annually. This acquisition aligns with GTCR's strategy to invest in the insurance sector, previously backing companies like Alliant Resources, AssuredPartners, and others. The partnership aims to leverage JMG’s high client-service platform and GTCR’s investment expertise to fuel JMG's UK expansion. The transaction's completion is anticipated in Q3 2025, with advisory support from Morgan Stanley, Jefferies, and legal guidance from Kirkland & Ellis.
Sectors
- Private Equity
- Insurance
- Financial Services
Geography
- United Kingdom – JMG Group is headquartered in Leeds, UK, and the acquisition aims to expand its presence within the UK insurance market.
- Europe – Synova, a European mid-market investor, is partnering in the acquisition, indicating a broader geographic interest.
- United States – GTCR, the acquiring private equity firm, is based in Chicago, USA.
Industry
- Private Equity – The article focuses on GTCR, a private equity firm, acquiring a stake in JMG Group.
- Insurance – JMG Group operates in the insurance sector providing risk management solutions, and is the focal point of the acquisition.
- Financial Services – The involvement of financial advisors highlights the financial services industry's role in the transaction.
Financials
- $30 billion – Total investments made by GTCR since its inception.
- $45 billion – Equity capital managed by GTCR.
- £350 million – Gross written premium placed annually by JMG Group.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| GTCR | Acquirer | Company | A leading private equity firm focused on transformative growth and strategic acquisitions. |
| JMG Group | Target | Company | A top UK insurance broker delivering comprehensive risk management solutions. |
| Synova LLP | Co-investor | Company | A European mid-market investor partnering with GTCR in the acquisition. |
| Nick Houghton | CEO of JMG Group | Person | Leader of JMG, instrumental in the company's growth and strategic acquisitions. |
| Morgan Stanley & Co. LLC | Financial Advisor | Company | Provided financial advisory services for GTCR in the transaction. |
| Jefferies Group LLC | Financial Advisor | Company | Acted as a financial advisor to GTCR. |
| Kirkland & Ellis LLP | Legal Counsel | Company | Provided legal counsel to GTCR for this transaction. |