Travis Perkins acquires remaining 70% of Toolstation
Published: 04 January, 2012
NORTHAMPTON: Travis Perkins has acquired the remaining 70% of the issued share capital of Toolstation from Mark Goddard-Watts and his family trusts.
Travis bought 30% of the business for £18m in 2008 and has now bought the rest of it, taking the total paid so far to £42m with further payments possible over the next two years if it hits targets.
Toolstation is an internet and catalogue based operation that expanded from 12 outlets when Travis acquired its first interest in 2008, to 103 outlets now.
Toolstation, based in Bridgwater, Somerset, was set up in 2003 by Mark Goddard-Watts, the founder of rival tool supply firm Screwfix, which he left after a takeover by B&Q owner Kingfisher.