The UK P&I Club and TT Club made a joint offer to acquire Thomas Miller Holdings on 18 June 2026 through TMH Bidco (a special purpose vehicle set up by the two clubs to facilitate the transaction), which has been approved by more than 89% of shareholders.
To support the transition process, two representatives from TMH Bidco will join Thomas Miller’s Board of Directors.
The two clubs said Thomas Miller’s acquisition is expected to be completed in the fourth quarter of 2026, subject to obtaining the necessary regulatory approvals.
The UK P&I Club and TT Club have signed a framework agreement formally committing to the merger, which is expected to be completed on February 20, 2027, subject to all necessary approvals being obtained.
Jan Valkier, Chairman of the UK P&I Club, commented: “We are encouraged by the strong support shown by Thomas Miller’s shareholders for the proposed takeover offer.
“This marks a significant step forward in the strategic ambitions of the UK P&I Club and TT Club, and reflects our shared confidence in the direction in which we can work together for the long-term benefit of the group.
“We look forward to advancing the transaction and closing it later this year as we continue to explore a potential merger with TT Club.”
TT Club chairman Morten Engelstoft said: “The positive response to the proposal is a strong endorsement of the strategic rationale behind it.
“Owning Thomas Miller outright will provide both clubs with a stronger platform to build on their shared strengths while maintaining the high standards of service and support valued by our members.
“This is an important milestone in the process and we look forward to completing the remaining steps to successfully complete the transaction in the coming months.”
