Greenberg Traurig Advises The Baldwin Group in $1B+ Merger with CAC Group

MIAMI - Dec. 08, 2025 - Global law firm Greenberg Traurig, P.A. advised The Baldwin Group, a leading independent insurance brokerage and advisory firm, in its agreement to merge with CAC Group, a nationally recognized specialty and middle-market insurance brokerage firm.

Under the terms of the transaction, Baldwin will pay a total upfront consideration of $1.026 billion, consisting of $438 million in cash and 23.2 million shares of Baldwin common stock valued at $589 million based on the 30-day volume-weighted average price as of Dec. 1, as well as a post-closing performance-based earnout of up to $250 million and a $70 million deferred payment.

The merger is expected to create one of the largest independent insurance advisory and distribution platforms in the United States, according to the company's press release. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions and regulatory approvals.

The Greenberg Traurig team advising The Baldwin Group is led by Miami Corporate Shareholders Raffael Fiumara, Sami B. Ghneim, and Daniella Genet Silberstein, co-chair of the firm's Global Corporate Practice, and relationship Shareholder Stacy A. Carpenter.

The cross-office team also includes Miami Corporate Of Counsel Guillaume Le Masson, L. Frank Cordero, co-chair of the Miami Tax Practice, Denver Tax Shareholder Robert D. Simon, Mindy B. Leathe, co-chair of the Global Employee Benefits & Compensation Practice, New York Antitrust Litigation & Competition Regulation Shareholder Stephen M. Pepper, and Atlanta Labor & Employment Shareholder Natasha L. Wilson.