Michael Dell’s family office DFO Management, in partnership with Sequence Holdings, plans to take Baldwin Insurance Group private in a deal valued at approximately $7.7 billion, or $32.50 per share. The insurer had a market cap of roughly $4.1 to $4.2 billion as of mid-September 2026, with $2.3 billion in net debt. The stock had already risen nearly 25% year-to-date, driven by speculation about the buyout. In Q2 2026, Baldwin reported revenue of $492.9 million, up 30% year-over-year, and adjusted diluted earnings per share of $0.48, up 14%. The Tampa-based company, which specializes in commercial insurance, has grown significantly following its merger with CAC Group in 2026.
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