Greenwood Moreland makes its largest acquisition with broker buy

Greenwood Moreland has bolstered its presence in Scotland with the acquisition of Calcluth and Sangster Insurance Brokers, a statement released today (18 September 2023) said.

Calcluth and Sangster specialises in club insurance, but also provides services across a range of commercial and personal lines.

It has been based in Cardonald, Glasgow, for 46 years, where it employs 16 members of staff.

JMG Group company Greenwood Moreland said acquiring the firm represented its largest purchase since starting out on its growth path, with it adding £6m of gross written premium (GWP) to the business.

The deal will see Calcluth and Sangster owner Stuart McGregor continue to lead the firm, with coowner Sandy McArthur assisting the transition of client relationships over the coming year.

Greenwood Moreland managing director Andrew Weir said: “It is a huge compliment that Stuart chose us and reinforces the hard work that has gone into building our reputation and ensuring that each deal we complete further enhances our company.

“Since Greenwood Moreland joined the JMG Group in April 2022, we have developed and benefited significantly and I know that it will be the same for Stuart and his team. We are delighted to have them on board.”

‘Very important’

Greenwood Moreland provides general insurance solutions to a range of commercial and personal lines clients and specialises in the charity and faith sector.

The deal will see both companies trade as Greenwood Moreland as part of JMG Group.

Greenwood Moreland said this would allow Calcluth and Sangster to benefit from its trading and operational capabilities.

“When it came to selecting a business to invest in Calcluth and Sangster, we knew that Greenwood Moreland had the welfare of our staff in mind, which is very important to us,” McGregor said.

“Greenwood Moreland is a dynamic business with great people, solid market connections and robust systems.

”I’m looking forward to taking the strong foundation we’ve built here over the years to the next level, whilst continuing to honour our family business values and ethos.”