Investment from Leeds-headquartered JMG Group is set to facilitate a management buyout at Scottish broker Greenwood Moreland and see the business continue its expansion plans under joint ownership.
Greenwood Moreland currently employs 35 people, operating from four branches across Scotland. The company was formed through the merger of Greenwood Insurances and Moreland Insurance Brokers in 2017, with an eye on further growth. It has continued its expansion over the last five years with the acquisition of six brokers serving communities across Scotland.
The investment from JMG will enable founding director Robert Weir to retire after a long career in insurance – having originally set up the business in its current form in 2004 as part of his MBO of Greenwood Insurances.
The broker provides general insurance solutions to individuals, small and medium-sized businesses, as well as more specialist expertise covering the charity, church, and franchise sectors.
Greenwood Moreland MD Andrew Weir says the business has always operated with a growth mindset and takes a “grow well” approach to its continued expansion: “We’re an ambitious business and team, and our aim is to build a good quality company that people want to work for, and work with. We want to offer development opportunities to our team as the business grows and take our clients and team with us on our journey.
“The new partnership with the JMG Group is a real game changer for our business that ticks our boxes for growth in the short, medium, and long term. The people and processes they have in place are superb and will help us execute our strategy over the coming months and years. Clients will continue to enjoy a strong and committed trading relationship with us, and it will provide additional opportunities for the people in our team, too. It’s a really good fit for us, and we’re very excited.”
JMG Group CEO Nick Houghton says: “I’ve watched Andrew’s business grow over recent years, and have always been impressed by the way he does business. There is a real parallel between the Greenwood Moreland ethos and approach and our own, and I know the company and the team will be an excellent fit within the JMG group.”
