’Together, we’re ready to continue setting new standards in service and growth during this exciting new chapter,’ says chief executive
Private equity (PE) firms GTCR and Synova have completed its investment in Leeds-headquartered JMG Group.
The deal, which was announced in May 2025, will be used to accelerate JMG Group’s growth strategy through further acquisitions, investment in talent and platform development.
The two PE firms said they will also ”collaborate to support JMG Group’s strong existing management team”, which is led by chief executive Nick Houghton.
“At JMG Group, we’ve always focused on empowering our people and delivering exceptional outcomes for our clients,” Houghton said.
”Joining forces with GTCR and continuing our partnership with Synova brings together three firms aligned in these values and ambitions.
“Together, we’re ready to continue setting new standards in service and growth during this exciting new chapter.”
Investor details
JMG Group was established in 2020 following a management buyout of JM Glendinning Insurance Brokers led by Houghton and backed by Synova.
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The new partnership marks a continuation of Synova’s commitment, having been JMG Group’s majority shareholder since 2020.
“We’re incredibly proud of the growth JMG Group has achieved since our initial investment, driven by Houghton and his exceptional team,” said David Menton, managing partner at Synova.
“Our partnership with GTCR represents a powerful combination of shared vision and experience. Together, we’re excited to support JMG Group as it continues to scale and strengthen its position as a leading UK insurance broker.”
Meanwhile, Chicago-headquartered GTCR is a private equity firm with a focus on financial services.
“JMG Group has built an impressive platform, combining consistent organic growth with thoughtful M&A strategy,” said Aaron Cohen, managing director and head of financial services and technology at GTCR.
“We’re thrilled to partner with Houghton, Synova and the broader JMG Group team to help accelerate their growth journey, leveraging our deep expertise in the insurance sector and our shared commitment to delivering outstanding service to clients.”
His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
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