Stoke-on-Trent heavy goods vehicle and motor trade insurance broker New Era is now part of JMG Group.
Without disclosing the financial terms of the deal, JMG Group said the acquired business will remain under the leadership of co-founding directors Ella Burgess and Nathan Pedley, who have grown New Era into a £2 million GWP (gross written premium) brokerage since setting it up in January 2020.
“The ability to start and build a business from scratch through a global pandemic is a testament to the directors’ tenacity and resilience when faced with unprecedented challenges,” highlighted JMG Group chief executive Nick Houghton in a release. “It shows their strength of leadership and business acumen.
“Bringing New Era into our group supplements our existing experience in this specialist market and will open up further opportunities for us in the wheels-based insurance arena.”
Manned by a team of four people, New Era previously acted as an appointed representative of the Gauntlet Group.
Lifting the lid on the decision to be snapped up, Burgess said: “We had outgrown the appointed representative model and were looking at routes to support our accelerated growth ambitions.
“This sale gives us the best of both worlds – Nathan and I remain autonomous and client-focussed but with the added benefit of having access to a wider market and business security as we move into the next development phase.”
Pedley, meanwhile, described the transaction as a recognition of New Era’s achievements.
“JMG Group could see our vision, and it felt like the right fit,” he said. “We are immensely proud of what we have achieved so far, especially with the hurdles that a global pandemic, a fuel crisis, and a cost-of-living crisis have thrown at us.
“To be recognised by such a well-respected group is a real ‘pinch-me’ moment, and we are very excited about what this will mean for us and our clients.”
