JMG adds £100m of deal firepower
JMG Group has raised an additional £100m of committed acquisition facilities from existing lender, Ares Management, Insurance Age can reveal.
The Leeds-headquartered broker was formed in 2020, when JM Glendinning underwent an MBO led by Nick Houghton with private equity backing from growth investor Synova.
It struck a series of deals in 2021/22 and followed this up with seven more buys in the financial year to 31 March 2023.
RelatedJMG strikes 10th deal of 2023JMG Group has bought Cheshire-based Blackfriars Group, taking its deal total for 2023 to 10.
The purchases, and 16% organic growth, helped the firm boost turnover by 90% to £35.5m
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