On September 14, 2026, Baldwin Insurance Group entered into a definitive Agreement and Plan of Merger to be acquired by Square Acquisition Parent, Inc., an entity formed by Sequence Holdings and DFO Management (the Dell family office). The all-cash transaction values the company at approximately $7.7 billion in enterprise value, implying an equity purchase price of roughly $4.6 billion. Each outstanding share of Class A common stock will be converted into the right to receive $32.50 in cash, representing an 88% premium to the unaffected closing price on June 17, 2026. Class B shares will be canceled for no consideration. The deal requires shareholder approval and regulatory clearances, including Hart-Scott-Rodino, with a target close date in Q1 2027. Upon completion, Baldwin will delist from Nasdaq and become a privately held subsidiary. The company operates as an independent insurance distribution firm providing risk management, insurance, and employee benefits solutions.

The Baldwin Insurance Group, Inc. reported financial results for the quarter ended June 30, 2026. Total revenue increased 30% year-over-year to $492.9 million, driven by a 23% growth in CAC Group total revenue and 2% organic revenue growth. The company recorded a GAAP net loss of $56.0 million, or $0.42 per diluted share, compared to a net loss of $5.1 million in the prior-year period. Adjusted EBITDA grew 37% to $116.7 million with an adjusted margin of 23.7%. Adjusted net income was $68.5 million, resulting in adjusted diluted EPS of $0.48. Net cash provided by operating activities was $45.6 million, and adjusted free cash flow increased 437% to $46.4 million. As of June 30, 2026, the company held $184.5 million in cash and had $259.4 million available under its revolving credit facility. The Baldwin Insurance Group operates as an independent insurance distribution firm delivering tailored risk management, insurance, and employee benefits solutions to personal and commercial clients.