JMG broker deal costs revealed
JMG Group’s ultimate holding company, Augusta Topco, picked up a bill of £17.26m for buying brokers in the financial year ended 31 March 2022, and followed it up with a further £57.7m outlay in the rest of the calendar year.
The figures in a filing at Companies House showed the Bickley Insurance Services deal for 90% of the share capital valued at £7.5m, with £6.44m in cash being paid for the Surrey-based broker.
Related JM Glendinning parent buys first broker in the South Butterworth Spengler seals first deal since becoming part of JMG Group JMG Group buys Northampton broker to continue expansionJMG Group had bought an 80% stake in Butterworth Spengler for £11.07m in the previous
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