JMG Group has secured a new equity investment jointly led by existing backer Synova and US-based private equity firm GTCR, alongside participation from the company’s leadership team.
The deal, which remains subject to regulatory approval, is aimed at supporting JMG’s growth plans through further acquisitions, recruitment and platform development. Ares Management, JMG’s incumbent lender, is providing a new financing facility as part of the transaction.
The latest investment extends Synova’s involvement with JMG, having first backed the company in 2020 and held a majority stake since then. GTCR, based in Chicago, joins as a new investor, bringing experience in scaling financial services and distribution-focused businesses globally.
Since Synova’s initial investment, JMG has completed 46 acquisitions and reported high levels of organic growth. JMG has stated that it plans to continue its acquisition-led strategy into 2025 and beyond, following more than 20 deals completed last year.
JMG CEO Nick Houghton (pictured above) said the company had made significant progress in recent years and that securing the backing of Synova and GTCR marked the next phase of development. He added that the company would maintain its focus on investing in people and businesses, while streamlining operations to allow teams to concentrate on customer retention and acquisition.
Meanwhile, GTCR managing director and head of financial services Aaron Cohen said the firm had a long-standing track record of supporting leaders in the insurance brokerage sector. He said JMG had built scale while retaining a customer-focused model, and that GTCR looked forward to working with both the management team and Synova.
The announcement comes as JMG continues to expand its footprint in the UK insurance market through a series of recent acquisitions made by its subsidiaries GS Group, Greenwood Moreland, and Lighthouse Risk Services.
The acquisitions form part of JMG Group’s broader strategy to grow its presence across the UK through targeted transactions and investment in regional firms.
