Thomas Miller’s shareholders accept acquisition offer by UK P&I Club and TT Club

UK P&I Club and TT Club have announced their joint offer to acquire Thomas Miller Holdings has received strong shareholder support, with acceptances in excess of 89%.

The acquisition offer was made to shareholders on 18 June 2026 by TMH Bidco, a special-purpose vehicle jointly established by UK P&I Club and TT Club to facilitate the deal. The acquisition is expected to be complete in the fourth quarter of 2026, subject to the receipt of requisite regulatory approvals, which are currently in progress. In the meantime, the Thomas Miller business continues to operate as usual.

To support the transition process, two representatives of TMH Bidco will join the Thomas Miller Holdings Board.

Jan Valkier, Chairman, UK P&I Club, said: “We are encouraged by the strength of support that Thomas Miller’s shareholders have shown for the proposed acquisition offer. This marks a significant step forward in the strategic ambitions of both the UK P&I Club and TT Club and reflects a shared confidence in the direction we are taking together for the Group’s long-term benefit. We look forward to progressing the transaction and concluding it later this year as we continue to explore our potential merger with the TT Club in parallel."

Morten Engelstoft, Chairman, TT Club, concluded: "The positive response to this proposal is a strong endorsement of the strategic rationale behind it. Taking full ownership of Thomas Miller will provide both Clubs with a stronger platform to build on their shared strengths while maintaining the high standards of service and support that our Members value. This is an important milestone in the process, and we look forward to working through the remaining steps to bring the transaction to a successful conclusion in the months ahead."

Merger discussions between UK P&I Club and TT Club continue to progress positively. Both Clubs have signed a framework agreement which formally commits both Clubs to the merger, which is expected to conclude on 20th February 2027, subject to all required approvals.