GTCR and Synova Complete Acquisition of UK Insurance Broker JMG Group

GTCR and Synova Complete Acquisition of JMG Group

In an exciting development in the private equity landscape, GTCR, a leading Chicago-based private equity firm, and Synova LLP, a prominent equity firm in Europe, have officially finalized their acquisition of the UK insurance broker, JMG Group. The announcement was made on October 21, 2025, marking a significant milestone for both firms and the insurance industry.

JMG Group, headquartered in Leeds, has swiftly risen to prominence in the UK market, focusing on delivering comprehensive risk management solutions tailored for small and medium-sized enterprises, as well as high-net-worth individuals. Since its establishment in 2020, JMG has been guided by a strong management team led by CEO Nick Houghton. Under their leadership, the company has achieved remarkable growth, positioning itself as a top 30 UK broker with an annual gross written premium exceeding £350 million. With a dedicated staff of over 800 insurance professionals spanning the country, JMG has developed a unique strategy of acquiring local brokerage firms to drive organic growth and enhance service delivery.

Nick Houghton expressed his enthusiasm about the acquisition, stating, "At JMG, we've always focused on empowering our people and delivering exceptional outcomes for our clients. Joining forces with GTCR and continuing our partnership with Synova aligns with our values and ambitions. Together, we are prepared to set new benchmarks in service and growth during this exciting new chapter."

Aaron Cohen, Managing Director of Financial Services Technology at GTCR, highlighted the impressive combination of organic growth and a well-thought-out merger and acquisition strategy at JMG. He remarked, "We are thrilled to partner with Nick, Synova, and the broader JMG team to accelerate their growth journey. Our deep expertise in the insurance sector, coupled with our shared commitment to delivering outstanding service to clients, positions us to make a significant impact."

Similarly, David Menton, Managing Partner at Synova, reflected on the success of JMG since their initial investment. He noted the alignment of vision and experience between Synova and GTCR. "Our partnership with GTCR represents a powerful combination. We are excited to support JMG as it continues to scale and strengthen its position as a leading UK insurance broker."

The strategic acquisition of JMG Group by GTCR and Synova marks a pivotal moment not only for the companies involved but also for the broader insurance market in the UK. JMG has built a reputation for quality service, and the backing of two influential private equity firms is expected to enhance its growth trajectory significantly. The partnership signifies a commitment to innovation and excellence in the insurance sector.

About GTCR

Founded in 1980, GTCR focuses on investing behind The Leaders Strategy™, partnering with management leaders to acquire and build market-leading companies across various sectors. With over $30 billion invested in approximately 300 companies, GTCR manages about $50 billion in equity capital. The firm has offices in Chicago, New York, and West Palm Beach.

About Synova

Synova stands out as one of Europe's most innovative growth investors, specializing in companies valued between £20 million and £250 million. This recognition as a top performer by Preqin reiterates its position in the market, recently earning the title of Private Equity House of the Year at the 2025 Private Equity Awards.

Conclusion

In conclusion, the acquisition of JMG Group by GTCR and Synova is a striking example of how the private equity sector can catalyze exponential growth in the insurance industry. As JMG embarks on this new chapter with enhanced resources and expertise, the future looks promising for the company and its commitment to delivering excellent service to its clients.