EQT Acquires Specialty Broker McGill and Partners for $2 Billion

Founder and CEO Steve McGill will continue to lead the organization, maintaining the independent model and "Contract of Trust" culture that has characterized the company since its launch. Under the new partnership, EQT plans to accelerate the firm’s organic growth through aggressive talent recruitment, expanded digital solutions, and enhanced data and technology capabilities. Chairman John Lloyd remains actively involved in the business, which now employs over 600 people across seven countries and serves more than 1,000 global clients.

Since its founding, McGill and Partners has grown its annual revenues to over $250 million, positioning itself as a challenger in the specialty brokerage space. The transition to EQT ownership is expected to close in the first half of 2027, subject to customary regulatory approvals. As part of the transition, EQT has committed to a new equity participation plan, ensuring that the firm's employee-ownership philosophy continues to align staff interests with long-term performance.