Builders merchant group Travis Perkins plc has acquired the remaining 70% of the share capital of Toolstation Limited for £24m from Mark Goddard-Watts and his family trusts.
In April 2008 Travis Perkins paid £18m for a 30% share in the multi-channel business, which sells lightside building material products. It currently has gross assets of £34m and generated EBITDA of £5m in the financial year to 31 December 2011.
The business operates strongly via the internet and its catalogue, although its branch network is also expanding. In 2008 it had 12 branches, at the end of 2011 it had 103.
Toolstation was setup in 2003 by former Screwfix executives when the brand and business was acquired by B&Q parent company Kingfisher.
When it first bought into the business, Travis Perkins’ chief executive Geoff Cooper, said: “This investment represents a significant advance in the development of our multi-channel strategy. Our customers increasingly expect products from us through a variety of distribution channels, delivered to them or collected by them via a time, place and mechanism that suits their needs.”