Synova's Strategic Move: Sale and Reinvestment in JMG Group
Deal News | May 14, 2025 | Proskauer Rose (UK) LLP
Proskauer, an international law firm, has provided legal counsel to Synova, a prominent growth investor, on the sale of its majority stake in the UK insurance brokerage platform, JMG Group, while strategically reinvesting alongside GTCR, a global private equity firm. The transaction also involved Ares Management, an existing lender, providing a new debt financing package. This deal signifies GTCR's initiative to support established management teams within financial services distribution. Proskauer's team, led by partner Andrew Wingfield, executed the sale, reinvestment, and financing processes with various partners leading in specific areas such as tax, finance, and real estate. JMG, having been transformed into a reputable consolidator within the UK insurance market under Synova's ownership since 2020, is poised for continued growth supported by the new investment strategy.
Sectors
- Private Equity
- Insurance
- Financial Services
Geography
- United Kingdom – JMG Group, an insurance brokerage platform based in the UK, is the focal point of the transaction.
- Global – The involvement of global entities like GTCR and Proskauer, which operates worldwide, indicates the transaction's extensive reach beyond a single country.
Industry
- Private Equity – The article discusses Synova's strategic reinvestment, a classic move within the private equity sector, requiring expertise in managing and guiding company transitions.
- Insurance – JMG Group operates as an insurance brokerage platform, indicating the involvement of the insurance industry as part of the transaction.
- Financial Services – The transaction involves key financial players such as GTCR and Ares Management, and focuses on financial services distribution strategies.
Financials
- – The article does not specify a financial amount related to the transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Synova | Growth Investor and Seller | Company | Synova is a growth investor engaged in the sale and strategic reinvestment of its stake in JMG Group. |
| JMG Group | Target Company | Company | A leading UK insurance brokerage platform undergoing majority stake sale and reinvestment. |
| GTCR | Reinvestment Partner | Company | A global private equity firm partnering with Synova for strategic reinvestment in JMG Group. |
| Ares Management | Lender | Company | Provided a new debt financing package as part of the transaction. |
| Proskauer | Legal Advisor | Company | An international law firm advising Synova on the sale and reinvestment transaction. |