GTCR and Synova completes investment in JMG Group
Chicago-headquartered private equity firm GTCR has completed its investment in Leeds-headquartered JMG Group alongside existing backer PE house Synova and the broker’s leadership team.
The deal was first announced in May after months of rumours had swirled around JMG’s ownership.
The PE-pair detailed they will “collaborate to support JMG’s strong existing management team, led by CEO Nick Houghton”.
RelatedJMG confirms new investorSynova had backed the management buyout of JMG in 2020.
The broker has grown ever since, organically and through acquisitions, from £45m gross written premium to more than £350m with a headcount of over 800 staff.
It was the most active consolidator in
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