Harper Macleod has advised on the sale of Calcluth & Sangster (Insurance Brokers) Ltd to Greenwood Moreland Insurance Brokers, part of the JMG Group.
Glasgow-based Calcluth & Sangster Insurance Brokers was formed more than 45 years ago by Ronnie McGregor, father of current director Stuart McGregor, and now employs sixteen people. It specialises in providing personal and commercial insurance broking services across a wide range of areas and sectors with a gross written premium of over £6m.
Harper Macleod advised Stuart McGregor on the transaction. Stuart will remain within the expanded Greenwood Moreland business, which is one of Scotland’s largest insurance brokers with an existing presence in Hamilton, Paisley, Greenock, Linlithgow, Tain, and Fraserburgh.
Harper Macleod’s corporate partner, Paul Macdonald, led on the transaction and was supported by Aiden Paterson, as well as partners Scott Milligan (employment) and Caroline Summers (commercial property).
Paul Macdonald said: “Calcluth & Sangster is a well-established independent insurance broker which has been providing tailored advice to its clients for nearly five decades. In that time, it has developed a deep understanding of what clients are looking for in an ever-changing market.
“In recent years, the insurance market has experienced high levels of consolidation due to moving customer demands and technological developments. As part of the larger Greenwood Moreland group, Calcluth & Sangster will be able to continue to develop its services to meet those demands, while taking advantage of new opportunities.”
Stuart McGregor, director at Calcluth & Sangster (Insurance Brokers), said: “We are delighted to be joining Greenwood Moreland and the wider JMG Group, which will allow our business to expand with all the benefits of the larger group both for our clients and our staff. I felt that Greenwood Moreland had our welfare at heart and are the ideal partner to invest in our business. I look forward to them taking us to the next level. We were greatly assisted by Paul Macdonald from Harper Macleod who made the whole legal process of our deal simple and smooth from start to completion”.
Calcluth & Sangster is a well-established independent insurance broker which has been providing tailored advice to its clients for nearly five decades. In that time, it has developed a deep understanding of what clients are looking for in an ever-changing market.
Harper Macleod’s corporate, commercial & regulatory team is one of the most active of its kind in Scotland. In the last 12 months, it has grown its proportion of transactions completed in Scotland where it was the principal advisor, completing 19% of all reported transactions (153 transactions out of a total of 793 to be reported). It advises on all aspects of corporate activity – from high-profile M&A to SME investment. It is one of Scotland’s largest with lawyers in Glasgow, Edinburgh and the Highlands, Islands and Moray.
It advises Scotland’s leading family-owned, employee-owned, and owner-managed businesses, specialising in healthcare, energy, marine and rural economies, technology, and food & drink. It is an expert adviser on business succession and to entrepreneurs and high-growth businesses, particularly those seeking investment. It supports businesses across the UK with their M&A activity.