Swedish investment firm EQT has agreed to acquire a majority stake in specialty reinsurance broker McGill and Partners from Warburg Pincus in a deal valued at $2 billion, or 19.2 billion Swedish kronor. Under the terms, Warburg Pincus will sell its entire equity stake, while McGill's founders, management, and colleagues will reinvest alongside EQT and retain a meaningful ownership position. Founder and CEO Steve McGill will continue to lead the business, and chairman John Lloyd will remain actively involved, with both staying as significant shareholders. McGill, established in May 2019 with backing from Warburg Pincus, has grown into a global specialty broking firm with revenues exceeding $250 million, employing over 600 people across seven countries and serving more than 1,000 clients. EQT plans to support growth through talent recruitment, technology and data development, and digital expansion, while also introducing an Equity Participation Plan to give all colleagues a share in future growth. The transaction is subject to customary closing conditions.
EQT CorporationEQT acquires a majority stake in McGill and Partners at a $2bn valuation, with founders and management reinvesting
Warburg Pincus sells its entire equity stake in McGill and Partners in a $2bn deal, realizing an exit
