McGill
Liberty advises the management team of McGill and Partners on the sale of Warburg Pincus’ stake to EQT
Liberty Corporate Finance is delighted to announce that it has advised the management team of McGill and Partners, the global specialty insurance and reinsurance broker, on the sale of Warburg Pincus’ majority stake in the business to EQT, valuing McGill and Partners at USD 2.0 billion. McGill and Partners founders, management team and colleagues will reinvest alongside EQT, whilst Warburg Pincus will sell its equity stake in full.
To have turned what was merely an idea seven years ago into a $2 billion global specialty broker is an achievement we are all incredibly proud of, powered by the most exceptional talent in this industry. We are delighted to partner with EQT for the next stage of our journey, and we are grateful to Simon and the team at Liberty for their expert guidance and support to the management team throughout this process.
Steve McGill
Founder and Chief Executive Officer
Founder and Chief Executive Officer Steve McGill will continue to lead the firm, with Chairman John Lloyd remaining actively involved. Both will remain significant shareholders alongside the firm’s wider colleague base.
The transaction represents an important milestone in the McGill and Partners’ journey and reflects the significant organic growth the firm has achieved. In the seven years since its formation in 2019, the founder-led firm has grown from an ambitious challenger into a scaled global specialty broking business, with revenues in excess of USD 250m. Backed by Warburg Pincus since its formation, the business now has more than 600 colleagues across seven countries and over 1,000 insurance and reinsurance clients worldwide.
EQT has committed to a new Equity Participation Plan to ensure long-term alignment. This is designed to give every colleague the opportunity to share directly in the continued growth and success of the firm. A significant portion of that plan will be reserved to support the continued growth and deepening of the talent base at McGill and Partners over time, both within the firm’s existing specialty focus areas and beyond.
McGill and Partners have built an exceptional business in a remarkably short period of time, establishing itself as one of the leading specialty insurance and reinsurance brokers globally. We were delighted to advise Steve and the wider management team on this landmark transaction and wish them every success as they embark on the next phase of growth alongside EQT.
Simon Hill
Partner
+44 (0) 7813 601 051
[email protected]