Travis Perkins plc Agrees Sale of Toolstation Benelux

• Travis Perkins plc, the UK’s largest distributor of building materials, announces the proposed disposal of its Toolstation Benelux business 

Travis Perkins plc today confirms that the Group has agreed to divest its Toolstation Benelux business as a standalone entity for cash consideration of €1 to Fidelium Partners. The Group will make a final capital injection of approximately £35m to strengthen Toolstation Benelux’s financial position as it transitions to independent ownership, and expects to complete the transaction before the end of the year, subject to completion of the applicable works council consultation process in the Netherlands. 

Accordingly, Toolstation Benelux will be reported as a discontinued operation in the FY26 financial statements, with its expected loss of approximately £10m for the full year excluded from the Group’s FY26 Adjusted Operating Profit. This transaction will therefore support the Group’s return to growth in profitability and allow a redirection of its resources into more value-creating activities. 

Chief Executive Officer Gavin Slark commented “The proposed divestment of Toolstation Benelux represents further progress in simplifying the Group’s operating model and supports our clear focus on being the UK’s leading distributor of building materials. We thank all our Benelux colleagues for their efforts in establishing and developing the business that exists today. Along with Fidelium Partners we wish them well with this next phase of their journey."

Phillip Mes, Managing Director of Toolstation Benelux, commented: “The proposed transaction with Fidelium marks an important step towards a new chapter for Toolstation Benelux. Fidelium shares our belief in the potential of the business and brings the experience and entrepreneurial approach required to support us in realising that potential. Together with our colleagues across the Netherlands and Belgium, we look forward to building on the strong foundations of Toolstation and further developing the business for our customers.”

About Fidelium Partners

Fidelium Partners is a Munich-based investment firm specialising in complex corporate carve-outs and businesses with operational improvement potential across Europe.

Backed by German entrepreneurial families and its own investment team, Fidelium manages two investment funds with total assets under management of EUR 253 million. The firm pursues a long-term investment approach without predetermined holding periods.

Fidelium has extensive experience in acquiring businesses from international corporations, including Bosch, Panasonic, Hempel and Antolin. Through its dedicated in-house operations team, Fidelium works closely with portfolio company management to support the transition to independent ownership, operational transformation and sustainable long-term development.

The Insight DIY Perspective

• This is less a conventional business disposal and more a strategic reset for both parties. For Travis Perkins, the decision to effectively hand over Toolstation Benelux, while providing a final £35m capital injection, underlines the extent to which the European operation had become a distraction from the Group's core UK priorities. The contrast with Toolstation UK, which continues to deliver growth, is particularly telling. It also reinforces an important point about international expansion: a successful retail proposition in one market does not automatically translate into success elsewhere, particularly when local trading conditions, competitive dynamics and operating economics differ.

• For Toolstation Benelux, however, this need not be the end of the growth story. With more than 100 branches across the Netherlands and Belgium, an established online operation and an existing management team, the business has an established platform from which to develop. Fidelium Partners' experience in corporate carve-outs and operational improvement could provide the focus and independence that were perhaps more difficult to achieve within a much larger UK-focused group. The real test will be whether it can turn that existing infrastructure into a sustainable, profitable business. For the wider DIY and trade sector, this is another reminder that the right ownership structure and strategic focus can be just as important as the strength of the retail proposition itself.

Source : Travis Perkins plc

Image : Travis Perkins plc

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