International legal practice Osborne Clarke has advised growth investor Synova Capital on the buy-out of JM Glendinning Group Limited, a specialist broker operating within the commercial lines insurance market, alongside incumbent CEO, Nick Houghton. As part of the transaction former Stackhouse Poland CEO, Tim Johnson, has joined the Board of JMG as Executive Chairman, while Stackhouse Poland founder, Jeremy Cary, has joined as a Board Advisor.
Synova will provide funding and work in partnership with the JMG team to support their ambitious plans, built upon supplementing the strong organic growth with a series of complementary strategic acquisitions to grow the business four-fold over the next five years.
Established in 1972 by John and Joan Glendinning, and now operating from six offices across the UK, the family appointed Nick Houghton in 2013 to deliver the next chapter of growth. JMG has built its reputation as one of the UK’s leading commercial lines brokers through its high-quality team. Today JMG places c. £45m of premium annually and offers a broad product capability to a well-diversified client base, supported by blue-chip insurers. The company has benefited from market-leading organic growth of 19% CAGR since 2013, driven by the addition of new offices, new business lines, and the recruitment of experienced executives, typically from larger corporates.
Partner Alisdair Livingstone, Associate Directors Chris Yeo and James Taylor and Associates Bethany Shingfield and Hannah Stevens advised Synova on corporate matters alongside Partner David Nisbet and Senior Associate Luolan Dong (tax), Legal Director Clare Burman and Associate John Roberts (FCA matters) and Associate Lara Flynn (Employment).
Osborne Clarke has previously advised Synova on a number of its other investments, including those in Preventx, Mediatonic and Meritsoft.
Osborne Clarke’s Corporate team is considered the go-to practice for many businesses, working with leading global businesses, fast-growth start-ups and market challengers. In 2020 for the third year running Osborne Clarke was named Corporate Law Firm of the Year at the South West Insider Deal Awards.