Baldwin Group to Acquire CAC Group in $1 Billion Insurance Brokerage Deal

The Baldwin Group is set to acquire CAC Group in a $1.03 billion cash-and-stock transaction, aligning with a broader trend of significant consolidation within the U.S. insurance brokerage sector. This deal, comprising $438 million in cash and 23.2 million shares valued at $589 million, highlights the ongoing shift towards larger-scale mergers among insurance brokers seeking to expand market presence. This acquisition strategically enhances Baldwin's footprint in the middle-market segment, serving businesses larger than small enterprises yet smaller than multinational firms. Additionally, Baldwin will benefit from CAC's expertise in industries such as private equity, real estate, senior living, education, and construction, along with gaining access to specialized insurance product lines. CAC’s executive chairman, Paul Sparks, will join Baldwin’s board, signaling integrated leadership moving forward. The combined company projects gross revenues exceeding $2 billion next year, emphasizing the growing scale and competitive nature of insurance brokerage operations in the U.S.