Jensten Group has completed its strategic investment deal with Bain Capital following regulatory approval. Financial terms of the transaction were not disclosed.
The investment sees Bain Capital join Jensten’s management team on the shareholder register, with the existing leadership to remain in place. The partners plan to focus on both organic and acquisition-led expansion, alongside further development of the group’s capabilities.
Jensten said the new capital is intended to support continued growth, service levels and long-term stability for staff, insurance partners and customers. The strategy includes additional investment in technology, product development and the group’s regional presence.
The deal sits within Bain Capital’s dedicated insurance investing platform, which has identified Jensten as a scale SME distribution business. Jensten has already completed 37 acquisitions, including 14 from within its franchise network, and manages about £600 million in gross written premium, giving Bain an established vehicle through which to continue broker and MGA consolidation in the UK market.
Founded in 1986, Jensten has grown into a diversified insurance distribution platform serving small and medium-sized enterprises across the country. The group operates across retail broking, wholesale and managing general agent segments, with more than 50 locations and over 1,000 employees.
Bain’s move on Jensten follows other UK transactions, including its April agreement to sell personal lines insurer esure to Belgian carrier Ageas for about £1.3 billion, a deal expected to create one of the UK’s top three personal lines insurers once completed. Market commentators have viewed that sale, combined with the Jensten investment, as part of a shift in Bain’s UK exposure from balance sheet-heavy retail underwriting towards distribution and specialist platforms.
Alongside Jensten, Bain Capital also holds a minority stake in The Openwork Partnership, a major UK financial advice network.
Rob Organ (pictured above), CEO of Jensten Group, said: “This is a very exciting moment in Jensten Group’s evolution, for our clients, our partners, and our people. Bain Capital’s investment and insurance market track record, validate our vision and provides us with the resources and stability to deliver even greater value to the businesses and communities we serve.”
Organ said the new ownership structure is intended to support Jensten’s long-term plans rather than change how the group operates day to day. Management, trading brands and client relationships are expected to remain in place as the business pursues its expansion agenda with Bain Capital’s backing.
