Synova Capital, a private equity firm, agreed to acquire a majority stake in JM Glendinning Group, a specialist broker operating within the commercial lines insurance market. Financial terms were not disclosed. “I am delighted that with the support of our new partners at Synova we have been able to allow John Glendinning to realise the value of what he and his late wife created nearly 50 years ago, as well as securing an independent future for the JMG team. Our agenda has always been to retain control of the Company through a buy-out while facilitating the desires of the Glendinning family. Synova have committed to providing JMG with the level of future funding to maintain, and even increase, the level of momentum we have enjoyed in recent years. With Synova, Tim and Jeremy we have a team that have done this before, and we are ready for this moment,” Nick Houghton, JMG Group CEO.