EQT Acquires Majority Stake in McGill and Partners for $2 Billion
EQT has entered into an agreement to acquire a majority stake in specialty (re)insurance broker, McGill and Partners, from Warburg Pincus for USD 2.0 billion. The transaction marks the conclusion of Warburg Pincus's investment partnership with the firm since its founding in May 2019. Steve McGill will continue as CEO while John Lloyd remains on board as Chairman. Founders and key members of the management team, alongside colleagues, are retaining a meaningful ownership stake to support ongoing growth. EQT plans to collaborate closely with the leadership team to accelerate organic expansion through talent recruitment, technology development, and digital innovation. Since its inception in 2019, McGill and Partners has grown into a global specialty broking business serving over 1,000 clients across seven countries, employing more than 600 people and generating revenues exceeding $250 million. The acquisition underscores EQT's strategy to invest in high-growth technology-enabled businesses. The firm remains committed to its independent model and entrepreneurial culture that has driven its success over the past seven years.
Tickers: $EQT
Topics: acquisition growth strategy insurance broking private equity