JM Glendinning management completes MBO backed by Synova Capital
PE firm to support organic growth and acquisition plans as JMG aims to grow four-fold in five years, with former Stackhouse Poland boss Tim Johnson joining board as Jeremy Cary becomes an adviser.
Private equity firm Synova Capital has backed a management buy-out of JM Glendinning Group (JMG), alongside chief executive officer Nick Houghton.
As part of the deal, former Stackhouse Poland boss Tim Johnson has joined the board of JMG as executive chairman, while Stackhouse Poland founder Jeremy Cary has joined as a board adviser.
Synova noted that it will provide funding and work in partnership with the team to support their ambitious plans, which it said included supplementing the strong
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
FSCS gives first insight on increasing levy to £394m
The Financial Services Compensation Scheme has indicated its levy for 2025/26 will rise to £394m from £265m this financial year as it cited having lower surpluses to carry forward and offset bills – a factor that has benefited brokers for two years in a row.
News analysis: Acquisitional independent brokers are on the rise, but are they any different to consolidators?
Whilst larger international and private equity backed-brokers might get the most headlines when it comes to mergers and acquisitions, they are not the only firms looking to buy. Martin Friel looks at the emergence of a host of smaller independent companies which are looking to supplement their organic growth with the odd dabble into M&A.
Close Brothers bringing in written consent rule on commercial broker premium finance commission
Close Brothers will require consent from commercial customers for broker commissions for premium finance as of Monday 25 November.
Konsileo seals £8m fundraise
Top 100 insurance broker Konsileo has completed an £8m fundraise to accelerate its expansion across the UK, Insurance Age can reveal.
JM Glendinning Real Estate expands footprint into London
JM Glendinning Real Estate is growing its team and geographic footprint with a new base in London this month.
Broadway looks to expand into two new regions following Liverpool opening
Daniel Lloyd-John, CEO of Broadway Insurance Partners, has revealed the broker is planning to expand into Lancashire and Staffordshire next year, after the broker opened an office in Liverpool.
Ex-BGL CEO Thompson takes over as Open GI chair
Open GI has appointed former BGL CEO Peter Thompson as its chair, effective immediately.
RSA claims PI first with product aimed at climate professionals
RSA has today launched a professional indemnity product aimed at climate professionals.