EQT to Buy Insurance Broker McGill in $2 Billion Deal - WSJ

EQT, the global private‑equity firm, has agreed to acquire McGill, a leading insurance brokerage, in a transaction valued at approximately $2 billion. The deal, announced jointly by the parties, marks one of the largest recent private‑equity investments in the insurance‑services sector.

McGill, which provides a range of insurance and risk‑management solutions to corporate clients, will become part of EQT’s growing portfolio of financial‑services businesses. The acquisition is intended to support McGill’s expansion plans and to leverage EQT’s capital and operational expertise.

The transaction is structured as a cash purchase, with the consideration reflecting a premium over McGill’s recent market valuation. Completion of the deal is subject to customary regulatory approvals and the satisfaction of standard closing conditions.

Both companies indicated that the acquisition is expected to close in the fourth quarter of the current year, pending the receipt of all required consents. Following the transaction, McGill will continue to operate under its existing brand and management team.

EQT’s investment aligns with its broader strategy of building scale in the insurance and financial‑services markets, while providing McGill with additional resources to enhance its service offerings and geographic reach.