JMG deal bill tops £60m as purchases and organic growth boost Ebitda
Augusta Topco, the holding company for JMG Group, faced a bill of £63.2m for seven broker buys in the 2022/23 financial year, far outstripping the £17.3m of acquisition costs the year before.
During the year, Ebitda nearly doubled to £7.6m from £3.9m previously.
Turnover also grew by 90% in the period to £35.5m due to the investments, but was also driven by 16% organic growth.
DealsThe biggest purchases in the year ended 31 March 2023 were George Stubbs Insurance Services and BJP Insurance Brokers.
The deal for Scottish broker George Stubbs completed in May 2022 at a cost of £23.1m for 90% of the business. BJP was snapped up last December costing £22m for an 80% stake in the firm.
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