GTCR Announces Investment in JMG Group 
 
 
   PR Newswire 
 
 
   CHICAGO, May 13, 2025 
 
 
   GTCR partners with CEO Nick Houghton and Synova to accelerate JMG's 
expansion across the UK insurance market 
 
 
   CHICAGO, May 13, 2025 /PRNewswire/ -- GTCR, a leading private equity 
firm, announced today that it has signed a definitive agreement to 
acquire leading UK insurance broker JMG Group ("JMG" or the "Company"), 
in partnership with existing investor Synova LLP ("Synova"), a leading 
European mid-market investor. GTCR and Synova will collaborate to 
support JMG's strong existing management team, led by CEO Nick Houghton, 
which will continue to operate the business and retain substantial 
equity ownership. 
 
 
 
   Headquartered in Leeds, United Kingdom, JMG Group is a leading UK 
insurance broker providing comprehensive risk management solutions to 
small and medium-sized enterprises and high-net-worth individuals. 
Founded in 2020 through a partnership between CEO Nick Houghton and 
Chairman Tim Johnson, JMG has rapidly scaled into a top 30 UK broker, 
placing over GBP350 million in gross written premium annually. With a 
team of over 750 insurance professionals across the country, JMG has a 
differentiated strategy of acquiring local and regional brokerages and 
leveraging its platform to enable local offices to deliver above-market 
organic growth. 
 
 
   JMG represents the latest partnership in GTCR's long history of 
investing in the insurance ecosystem. GTCR previously founded brokerages 
Alliant Resources and AssuredPartners and invested in high-net-worth 
insurance brokerage Winged Keel, insurance carrier Ironshore and 
insurance technology and data companies itel, Solera and UK-based 
Premium Credit Limited. This partnership with JMG further builds on that 
track record as GTCR continues supporting leading platforms across the 
entire insurance value chain. 
 
 
   "JMG is an exceptional business with a proven track record of M&A 
execution and organic growth, driven by the outstanding leadership of 
Nick Houghton and his team," said Aaron Cohen, Managing Director and 
Head of Financial Services & Technology at GTCR. "At GTCR, we empower 
talented leaders to drive transformational growth in great businesses, 
while preserving the values and culture that made them successful. We 
believe Nick and the JMG team exemplify this approach, and we are 
excited to partner with them to support the next phase of growth, 
drawing on insights from our decades of successful investments in the 
insurance sector." 
 
 
   "From the start, we've built JMG with a client-first culture and a 
centralized platform that enables our teams to deliver exceptional 
service. That foundation has fueled our rapid growth and made JMG a 
natural home for entrepreneurial brokerages across the UK," said Nick 
Houghton, CEO of JMG Group. "With the GTCR partnership, we're joining 
forces with a team that shares our long-term vision and core values, and 
we look forward to leveraging their expertise to accelerate our growth 
and continue delivering lasting value to our trusted clients." 
 
 
   "The JMG partnership builds on GTCR's successful track record of backing 
proven leaders and high-quality businesses across Europe, particularly 
in markets like the UK insurance sector where we have deep history 
across several deals, including Premium Credit Limited and Callcredit 
Information Group. That history creates domain expertise and conviction 
regarding the sector's strong long-term fundamentals," said Michael 
Hollander, Managing Director at GTCR. "We're excited to support JMG in 
partnership with Synova during this next chapter and help accelerate 
their continued growth in a market and geography we know well." 
 
 
   The transaction is expected to close in the third quarter of 2025. 
 
 
   Morgan Stanley & Co. LLC and Jefferies Group LLC acted as financial 
advisors, and Kirkland & Ellis LLP acted as legal counsel to GTCR. 
 
 
   About GTCR 
 
 
   Founded in 1980, GTCR is a leading private equity firm that pioneered 
The Leaders Strategy(TM) -- finding and partnering with management 
leaders in core domains to identify, acquire and build market-leading 
companies through organic growth and strategic acquisitions. GTCR is 
focused on investing in transformative growth in companies in the 
Business & Consumer Services, Financial Services & Technology, 
Healthcare and Technology, Media & Telecommunications sectors. Since its 
inception, GTCR has invested more than $30 billion in over 280 companies, 
and the firm currently manages more than $45 billion in equity capital. 
GTCR is based in Chicago with offices in New York and West Palm Beach. 
For more information, please visit www.gtcr.com. Follow us on LinkedIn. 
 
 
   About Synova 
 
 
   Synova is recognized as one of Europe's most innovative growth investors, 
generating market leading returns investing in companies valued between 
GBP20 and GBP250 million in the UK, Ireland, and continental Europe. 
Synova has been consistently recognized as one of the best performing 
global managers by industry benchmark, Preqin, and was recently awarded 
Private Equity House of the Year at the 2025 Private Equity Awards. 
 
 
   About JMG Group 
 
 
   JMG Group was established in 2020 following a management buyout of JM 
Glendinning Insurance Brokers led by Group CEO Nick Houghton and backed 
by Synova. The JMG Group has ambitious growth plans, built upon 
supplementing strong organic growth with a series of complementary 
strategic acquisitions. Now operating with a team of over 750 colleagues 
across 45 offices -- stretching from the highlands of Scotland to the 
south coast of England -- JMG Group has built its reputation as one of 
the UK's leading insurance brokers through its quality team and range of 
client services. 
 
   GTCR Media Contact: 
 
   Prosek Partners 
 
   Josh Clarkson / Ryan Smith 
 
   212-279-3115 
 
 
   pro-GTCR@Prosek.com 
 
   Synova Media Contact: 
 
 
   press@synova.pe 
 
 
 
 
 
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   SOURCE GTCR 
 
 
 
 
 
 

(END) Dow Jones Newswires

May 13, 2025 05:28 ET (09:28 GMT)