Businesswire·2025-12-02 21:15Core Viewpoint - The Baldwin Group is merging with CAC Group to create the largest majority colleague-owned, publicly-traded insurance broker in the United States, enhancing their capabilities and market presence [2][7]. Company Overview - The Baldwin Group is a leading independent insurance brokerage and advisory firm, while CAC Group is recognized for its specialty and middle-market insurance brokerage services [2][12]. - The merger is expected to close in the first quarter of 2026, pending regulatory approvals [2]. Strategic Benefits - The merger will significantly enhance Baldwin's Insurance Advisory Solutions segment by integrating CAC's expertise in various industries, including natural resources, private equity, and construction [3][4]. - The combined entity will leverage Baldwin's reinsurance and MGA operations along with CAC's data and analytics platform to provide advanced solutions to a broader client base [4][3]. Financial Aspects - The total upfront consideration for the merger is $1.026 billion, comprising $438 million in cash and 23.2 million shares of Baldwin common stock valued at $589 million [7]. - The transaction is projected to be accretive to Baldwin's 2025 Adjusted EPS by over 20% and is expected to generate more than $2 billion in gross revenue and $470 million in Adjusted EBITDA in 2026 [7]. Market Position - Post-merger, Baldwin will rank as the largest majority colleague-owned, publicly-traded insurance broker in the U.S. according to Business Insurance's 2025 Top 100 U.S. Brokers list [7]. - The combined organization will have nearly 5,000 colleagues serving clients across various platforms [5]. Leadership Insights - Trevor Baldwin, CEO of The Baldwin Group, emphasized the complementary nature of the two firms and the enhanced capabilities that the merger will bring [6]. - Erin Lynch, CEO of CAC Group, highlighted the merger's potential to accelerate their distinctive specialty expertise and client success focus [8].