Synova is delighted to announce the successful raising of an additional £100m of committed acquisition facilities for JMG Group (“JMG” or the “Company”) from existing lender, Ares Management (“Ares”).
Synova first partnered with Nick Houghton, CEO of JMG Group to support his team’s management buy-out in November 2020; since then JMG has gone on to acquire 25+ UK insurance brokerages and now enjoys a UK wide footprint into which it is targeting a number of further acquisitions. As a Top 35 UK insurance broker, the group places over £250m of premium annually, operating with a team of over 550 across 27 offices and offers a broad product capability to a well-diversified client base, supported by blue-chip insurers.
The new facility will support the Company’s ambitious growth plans, built upon supplementing strong organic growth with a series of complementary strategic acquisitions.
