GTCR and Synova Finalize Acquisition of JMG Group, Expanding Their Investment Portfolio
In a significant move within the finance sector, GTCR and Synova LLP, two of the most prominent private equity firms in the market, have successfully completed the acquisition of JMG Group, a notable UK insurance broker. The deal marks a collaborative effort aimed at bolstering JMG’s operational capabilities while retaining the original leadership team under CEO Nick Houghton, who has navigated the company to remarkable growth since its inception.
Founded in Leeds, United Kingdom, JMG Group specializes in risk management services for both small to medium-sized businesses and high-net-worth clients. Since its leadership transition in 2020, JMG has experienced exponential growth, entering the ranks of the top 30 UK brokers with over £350 million in gross written premiums each year. This impressive growth has been driven by an ambitious strategy focusing on acquiring regional brokerages, thereby enhancing its market reach and operational scale. JMG’s team, comprising more than 800 skilled insurance professionals, plays a pivotal role in this growth through a distinctive strategy that emphasizes local service and engagement.
Nick Houghton, the CEO of JMG Group, expressed enthusiasm about the new partnership: “At JMG, we've always aimed to empower our personnel and achieve outstanding results for our clientele. Collaborating with GTCR and continuing our partnership with Synova aligns perfectly with our values and aspirations. Together, we are prepared to redefine standards in service delivery and company growth.”
From GTCR’s perspective, the investment is just another notch on its belt of successful acquisitions. According to Aaron Cohen, Managing Director and Head of Financial Services Technology at GTCR, “JMG has cultivated an impressive enterprise, fusing steady organic expansion alongside a strategic mergers and acquisitions approach. We are excited about this partnership and look forward to utilizing our extensive experience in the insurance sector to drive JMG’s growth trajectory.”
Synova has also expressed pride in JMG’s development since their initial investment, highlighting the successful leadership of Nick Houghton. David Menton, Managing Partner at Synova, noted: “Our collaboration with GTCR symbolizes a dynamic fusion of shared visions and insights. We are eager to continue sustaining and expanding JMG’s stature in the UK insurance marketplace.”
GTCR’s investment philosophy, known as The Leaders Strategy™, focuses on identifying and backing standout management teams in key industries that promise transformative growth. Since its foundation in 1980, GTCR has allocated more than $30 billion across approximately 300 companies, managing an impressive $50 billion in equity capital as of now. This successful track record positions them as a leading firm within the private equity space, especially concerning sectors like healthcare, technology, and consumer services.
Synova, recognized as one of Europe’s premier growth investors, has carved a niche in supporting companies valued between £20 million and £250 million throughout the UK, Ireland, and continental Europe. Its reputation for superior returns has gained it recognition among global investment benchmarks, and it recently received the esteemed title of Private Equity House of the Year at the 2025 Private Equity Awards.
JMG Group itself originated from a management buyout of JM Glendinning Insurance Brokers, also led by Nick Houghton, supported by Synova. With plans for continued growth through strategic acquisitions and a commitment to providing high-quality services, JMG is set to solidify its standing as a premier insurance broker in the UK—thanks to a skilled team and strategic partnerships that align with their vision. The future seems bright for these firms, propelling JMG into a new chapter of service excellence and market expansion.
Founded in Leeds, United Kingdom, JMG Group specializes in risk management services for both small to medium-sized businesses and high-net-worth clients. Since its leadership transition in 2020, JMG has experienced exponential growth, entering the ranks of the top 30 UK brokers with over £350 million in gross written premiums each year. This impressive growth has been driven by an ambitious strategy focusing on acquiring regional brokerages, thereby enhancing its market reach and operational scale. JMG’s team, comprising more than 800 skilled insurance professionals, plays a pivotal role in this growth through a distinctive strategy that emphasizes local service and engagement.
Nick Houghton, the CEO of JMG Group, expressed enthusiasm about the new partnership: “At JMG, we've always aimed to empower our personnel and achieve outstanding results for our clientele. Collaborating with GTCR and continuing our partnership with Synova aligns perfectly with our values and aspirations. Together, we are prepared to redefine standards in service delivery and company growth.”
From GTCR’s perspective, the investment is just another notch on its belt of successful acquisitions. According to Aaron Cohen, Managing Director and Head of Financial Services Technology at GTCR, “JMG has cultivated an impressive enterprise, fusing steady organic expansion alongside a strategic mergers and acquisitions approach. We are excited about this partnership and look forward to utilizing our extensive experience in the insurance sector to drive JMG’s growth trajectory.”
Synova has also expressed pride in JMG’s development since their initial investment, highlighting the successful leadership of Nick Houghton. David Menton, Managing Partner at Synova, noted: “Our collaboration with GTCR symbolizes a dynamic fusion of shared visions and insights. We are eager to continue sustaining and expanding JMG’s stature in the UK insurance marketplace.”
GTCR’s investment philosophy, known as The Leaders Strategy™, focuses on identifying and backing standout management teams in key industries that promise transformative growth. Since its foundation in 1980, GTCR has allocated more than $30 billion across approximately 300 companies, managing an impressive $50 billion in equity capital as of now. This successful track record positions them as a leading firm within the private equity space, especially concerning sectors like healthcare, technology, and consumer services.
Synova, recognized as one of Europe’s premier growth investors, has carved a niche in supporting companies valued between £20 million and £250 million throughout the UK, Ireland, and continental Europe. Its reputation for superior returns has gained it recognition among global investment benchmarks, and it recently received the esteemed title of Private Equity House of the Year at the 2025 Private Equity Awards.
JMG Group itself originated from a management buyout of JM Glendinning Insurance Brokers, also led by Nick Houghton, supported by Synova. With plans for continued growth through strategic acquisitions and a commitment to providing high-quality services, JMG is set to solidify its standing as a premier insurance broker in the UK—thanks to a skilled team and strategic partnerships that align with their vision. The future seems bright for these firms, propelling JMG into a new chapter of service excellence and market expansion.
Topics Financial Services & Investing）
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