EQT AB to Acquire McGill and Partners for $2 Billion

EQT AB agreed to acquire a majority stake in the UK insurance broker McGill and Partners from Warburg Pincus for $2 billion. The investment, executed through the EQT X fund, is intended to drive the broker's global growth by increasing recruitment and investing in data and technology capabilities.

Founded in 2019, McGill and Partners employs more than 600 people across seven countries and generates annual revenue exceeding $250 million. Founder and CEO Steve McGill will continue to lead the company, while Chairman John Lloyd will remain actively involved in the business.

Warburg Pincus will sell its entire holding in the company as part of the deal. The transaction is expected to close in the first half of 2027. Upon completion, the EQT X fund is projected to be 85% to 90% invested.