Baldwin Agrees to $7.7 Billion Take-Private by Dell Family Office and Sequence Holdings

Reuters··US·Read original
4▲1 ▼0Impact / 5
Summary · why it matters

Michael Dell's family office, DFO Management, together with Sequence Holdings, agreed to take The Baldwin Insurance Group private in a deal valued at $7.7 billion, with Baldwin shareholders receiving $32.50 per share in cash, an 88% premium to the stock's closing price before deal reports first emerged in June. Baldwin CEO Trevor Baldwin said the transaction gives the risk-management and insurance-advisory firm the long-duration capital and frontier AI execution to invest and move at the pace this moment demands, and the deal is expected to close in the first quarter of 2027. The buyers secured the transaction without a financing condition, and eligible employees can roll over part of their existing holdings and retain a significant minority stake. Baldwin enters the deal with second-quarter revenue up 30% year over year to $492.9 million, adjusted EBITDA up 37% to $116.7 million, adjusted free cash flow up 437% to $46.4 million, and adjusted diluted EPS up 14% to $0.48, though organic revenue rose only 2% and the company reported a $56 million GAAP net loss, or a diluted loss of $0.42 per share. Shares traded at $31.89 after the formal announcement, already close to the $32.50 cash offer, leaving limited additional upside for public shareholders, who must still approve the transaction and await regulatory approvals.

Impact on assets 3

Financials▲ · 1 stocks
Artificial Intelligence▲ · 1 stocks
Dell Technologies Inc
DELL
± MixedCapitalrelevance

Michael Dell's family office DFO Management is a buyer, but Dell Technologies itself is not a party to the deal.

Aging Population▲ · 1 stocks

Off-coverage companies 2

DFO ManagementPrivate▲ Positive
Capitalrelevance

DFO Management is a co-buyer taking Baldwin private in the $7.7B transaction.

Sequence HoldingsPrivate▲ Positive
Capitalrelevance

Sequence Holdings is a co-buyer taking Baldwin private in the $7.7B transaction.

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