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Travis Perkins invests in Toolstation

Published: 7 April 2008
Builders' merchant and retail operator acquires 30% stake from Screwfix founder with right to purchase remaining 70% after four years.
Travis Perkins invests in Toolstation
Travis Perkins is broadening its multi-channel offer of merchant and retail lines through an investment in Toolstation.

The move will allow Travis Perkins (TP) to use Toolstation’s ecommerce, warehousing and fulfilment software for direct selling of its existing merchanting and retailing brands.

TP has acquired 30% of Toolstation's equity from its founding shareholders for £5 million and will provide an initial loan of £7 million to allow Toolstation to repay its outstanding loan capital.

Toolstation was created in 2003 by Mark Goddard-Watts, a founder of Screwfix.

The builders' merchant and home improvement retailer said it will provide an additional loan facility up to a maximum of £30 million over the next four years to support the growth of Toolstation's business.

Toolstation plans to continue its branch network expansion, with the aim of operating from at least 80 trade counters within the next five years.

Toolstation's turnover in the last 12 months was £21.4 million, with earnings around break-even for the same period.

Toolstation sells a wide range of tools, fixings, hardware, electrical and plumbing and heating materials to retail and trade customers throughout the United Kingdom and through a franchised operation in the Netherlands.

Toolstation's facilities comprise a main distribution warehouse with trade counter in Bridgwater, Somerset and ten more trade counters located across the UK.

Toolstation currently employs 244 people.

Geoff Cooper, Travis Perkins' chief executive will join the board of Toolstation.

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