Home / Business and Economy / EQT Buys McGill & Partners for $2B
EQT Buys McGill & Partners for $2B
4 Sep
Summary
- EQT acquires a majority stake in McGill and Partners for $2.0 billion.
- McGill and Partners has grown to over 600 colleagues across seven countries.
- The deal aims to accelerate growth and global expansion for McGill and Partners.
EQT is acquiring a majority stake in the specialty insurance and reinsurance broker, McGill and Partners, in a deal valued at USD 2.0 billion. This significant investment by EQT X aims to accelerate McGill and Partners' global expansion and organic growth. The firm, founded in May 2019, has achieved remarkable growth, now employing over 600 colleagues across seven countries and generating revenues exceeding $250 million.
Steve McGill, the founder and CEO, will continue to lead the firm, with John Lloyd remaining as Chairman. Both will retain significant shareholdings, as will the broader colleague base. Warburg Pincus, the initial cornerstone investor since 2019, will fully divest its equity stake. This acquisition underscores McGill and Partners' evolution from a startup into a scaled global specialty broking business.
EQT's investment will support McGill and Partners' strategy to attract top specialty broking talent, enhance technology and data capabilities, and expand digital solutions. The firm's unique approach, characterized by its independence, entrepreneurial culture, and colleague alignment, will be maintained. McGill and Partners operates on a modern technology stack designed for efficient data integration and analytics, promoting rapid innovation.
All colleagues will benefit financially from the transaction due to the firm's all-employee ownership structure. EQT has committed to a new Equity Participation Plan to ensure long-term alignment and shared success. This partnership is poised to further connect the world to the Lloyd's and London markets through innovative solutions and a differentiated client-first strategy.
