’We are sticking to our game plan of driving upper quartile organic growth by investing in strategic M&A,’ says chief executive
JMG Group has raised an additional £100m of committed acquisition facilities (CAF) from its existing lender Ares Management, a statement released yesterday (8 January 2024) said.
A CAF is a loan facility that is committed at closing – it can also be drawn for permitted add-on acquisitions over a particular availability period.
Broker JMG was supported by Axis Arbor, Deloitte as well as McDermott Will and Emery in the fundraising process.
JMG chief executive Nick Houghton said: “The team at Ares have supported us over the last two years and I’m delighted to continue our partnership in securing this additional funding as we write the next chapter of our growth story.”
Game plan
JMG made several deals in 2023, such as acquiring Cheshire-based Blackfriars Group and privately-owned commercial insurance broker GR Marshall.
Read: Insurance Times Advent Calendar – Nick Houghton
Read: Jake Fox – JM Glendinning is gearing up to ‘acquire pretty much everything and anything’
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And to support its acquisitive expansion, JMG hired Tom Smith as web manager and Tanish Cheema as group integration coordinator in August last year.
”We are sticking to our game plan of driving upper quartile organic growth by investing in strategic M&A, then freeing up the leadership teams to focus on winning and retaining clients and the recruitment of quality people,” Houghton said.
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