Thomas Miller’s Shareholders Accept Acquisition Offer by UK P&I Club and TT Club

London, 13 July 2026

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 85%. 

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."

This marks a significant step forward in the strategic ambitions of both the UK P&I Club and TT Club

Morten Engelstoft, Chairman, TT Club, concluded:

"The positive response to this proposal is a genuine endorsement of the clear rationale behind it. Taking full ownership of Thomas Miller will let both Clubs operate with a greater alignment and efficiency and, above all, deliver a more integrated service that puts our Members first. This is an important stage in the process, and we are keen to see it through to completion in the coming months."

Taking full ownership of Thomas Miller will let both Clubs operate with a greater alignment and efficiency and, above all, deliver a more integrated service that puts our Members first

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.

 

-ENDS-