Baldwin Group to go private in $7.7bn Sequence-Dell deal

Baldwin Group to go private in $7.7bn Sequence-Dell deal

Shubhendu Vimal

Tue, September 15, 2026 at 5:41 PM GMT+3 2 min read

• BWIN +1.72%
• DELL +3.34%

US insurance company the Baldwin Group has agreed to be taken private in an all-cash transaction valued at approximately $7.7bn by an entity backed by Sequence Holdings and DFO Management.

The buyer was formed by Sequence Holdings and DFO Management, the family office of Dell Technologies founder Michael Dell, and will acquire a majority stake in Baldwin.

Under the terms of the agreement, Baldwin shareholders will receive $32.50 in cash for each share of common stock they own.

The company said this represents a premium of approximately 88% to its unaffected closing price on 17 June 2026, the day before reports first emerged that it was considering a take-private transaction.

The transaction's total enterprise value of roughly $7.7bn comprises an equity purchase price of approximately $4.6bn and around $3.1bn in net debt, which will be assumed or refinanced as part of the deal.

Eligible Baldwin employees who hold equity will have the option to roll over part of their holdings into the private company, allowing them to retain a significant minority equity stake alongside Sequence and DFO.

The acquisition will be completed through a merger subsidiary to be formed by the buyer, which will merge into Baldwin. Following the merger, Baldwin will remain a wholly owned subsidiary of the buyer.

The transaction has no financing condition.

The Baldwin Group CEO Trevor Baldwin said: "This transaction allows us to deliver immediate value to shareholders while establishing a partnership with Sequence and DFO that will give Baldwin the long-duration capital and frontier AI execution to invest and move at the pace this moment demands."

Baldwin's Board of Directors unanimously approved the deal following the unanimous recommendation of a special committee of independent, disinterested directors advised by independent legal and financial advisers.

The transaction is expected to close in the first quarter of 2027, subject to Baldwin shareholder approval, required regulatory clearances and other customary closing conditions.

After completion, Baldwin's common stock will be delisted from the Nasdaq.

"Baldwin Group to go private in $7.7bn Sequence-Dell deal" was originally created and published by Life Insurance International, a GlobalData owned brand.