A SPECIALIST insurance firm based in Wokingham town centre is under new ownership.
BJP, based in Alexandra Court, is now part of the JMG Group.
It is the 14th such acquisition since the company’s CEO, Nick Houghton, completed a management buyout in 2020, backed by growth investor Synova.
Sixty people are joining in the takeover, which brings the parent company’s headcount to 420, and helps it grow its southern business.
BJP works on building, construction, security, and agricultural machinery sectors and has its own specialist underwriting division – Focus.
BJP managing director Andrew Brown will remain in his role, and said that JMG Group will facilitate a smooth retirement for founding directors Barry McGoun and John Finch, whilst giving the team access to resources and capital to help support their growth plans.
“It was important for us to find a home where we could continue building on all we have created over the last 25 years,” he said
“When we met the JMG team, they just felt like the right partner for us. The JMG support, scale and approach will undoubtedly be good for our team, our customers, and our retail and underwriting divisions.
“One chapter closes, another one opens – and we can’t wait to get cracking.”
And the news was welcomed by Mr Houghton, who said BJP was a great business.
“The added dimension of an underwriting division is exciting as this is something we’ve been thinking about for some time now,” he explained.
“On behalf of everyone at JMG Group, I’d like to extend a warm welcome to Andrew and his team: we look forward to supporting them to achieve their growth plans.”
