European private equity firm EQT has agreed to acquire a majority stake in specialist insurance broker McGill and Partners in a transaction valuing the business at approximately $2bn, according to Private Equity Wire. The transaction value was reported by the Wall Street Journal, according to Private Equity Wire.
Buyer, seller, and valuation
EQT is described as a European private equity major and a Stockholm-listed private markets firm, according to Private Equity Wire. EQT will acquire the stake currently held by Warburg Pincus, which backed the launch of McGill and Partners in 2019, according to the publication.
Timing and regulatory status
The deal remains subject to regulatory approvals, according to Private Equity Wire. The transaction is expected to complete during the first half of 2027, according to the same report.
Management and ownership post-transaction
McGill founder and chief executive Steve McGill will remain at the helm of the business following the transaction, according to Private Equity Wire. Steve McGill is a former group president at Aon and will retain a significant ownership position after the deal, according to the publication.
Business focus and operating model
EQT said its investment will support the continued expansion of the brokerage, including further recruitment, while maintaining McGill’s independent operating model, according to Private Equity Wire. London-headquartered McGill and Partners focuses on complex and specialist insurance risks, with expertise spanning areas including property and aviation, according to the report. McGill and Partners has expanded internationally since its formation and now operates across seven countries, according to Private Equity Wire.
