JMG Group, a national insurance broker, has acquired Astute Insurance Solutions.
The purchase represents JMG Group’s significant expansion to the East Midlands, where it intends to establish a hub.
JMG Group has 11 offices across the UK which employ a combined total of 230 people. It has made a number of acquisitions over the past few years, and saw its business double in size in 2021.
Northampton-based Astute Insurance Solutions, which has been running for thirteen years, specialises in commercial insurance. The firm is headed up by Ian Mahony and Andy Baggott, who will keep a stake in the business.
Mr Mahony commented: “Our business is built on strong client relationships and growth through referrals. Astute Insurance will continue to provide the same client care provided by the same experienced team.
“The acquisition and the support gained from being part of a wider group will help propel us to the next level and give us greater security and strength in the marketplace, which will ultimately benefit all our clients and our team.”
JMG Group’s chief executive, Nick Houghton, said: “This acquisition gives us a strong foothold in the Northampton area that we will use to develop other acquisitions.
“We are very selective about the businesses we invest in, with the people and culture top of the list when it comes to diligence. Ian and Andy have a great business and are a perfect fit for our group.”
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