Travis Perkins has agreed to sell its loss-making Toolstation Benelux business to Munich-based investment firm Fidelium Partners for a nominal €1, the Northampton-headquartered builders' merchant said on Tuesday 10 November 2026.

The business will be sold as a standalone entity and become independently owned, with completion expected before the end of the year. The deal is subject to the completion of the works council consultation process in the Netherlands.

Travis Perkins will make a final capital injection of around £35 million to strengthen Toolstation Benelux's financial position as it moves to independent ownership. The business will be reported as a discontinued operation in the group's full-year 2026 financial statements, with its expected loss of around £10 million for the year excluded from Travis Perkins' adjusted operating profit.

What Toolstation Benelux is

Toolstation Benelux is an omni-channel distributor of tools, building materials and hardware, operating a network of more than 100 branches across the Netherlands and Belgium, supported by its e-commerce platform and distribution infrastructure.

Under Fidelium's ownership, the existing Toolstation Benelux management team, led by managing director Phillip Mes, will continue to lead the business. Fidelium Partners specialises in corporate carve-outs and businesses with operational improvement potential, and manages two investment funds with total assets under management of €253 million.

Travis Perkins chief executive Gavin Slark said the group was pleased to have reached the agreement with Fidelium Partners for Toolstation Benelux, which he said would support the business in its next phase of development as an independent company.

Why Travis Perkins is selling

The sale ends a strategic review of the Benelux business. Travis Perkins reported in October that Toolstation Benelux revenue fell 3.8% in the third quarter of 2026, while group revenue declined 1.6% as weakness in British construction weighed on demand.

Toolstation UK, by contrast, grew revenue by 3.7% in the same quarter, and the group said it expected further store openings there in 2027. For the first half of 2026, Travis Perkins reported group revenue of £2.258 billion, down 1.8% year on year, with adjusted operating profit of £67 million.

The disposal removes a loss-making overseas unit from the group and lets management focus on its UK merchanting and Toolstation UK businesses, where trading has held up better despite a difficult construction market.

What happens next

The transaction is expected to complete before the end of 2026, once the Dutch works council consultation has finished. Toolstation Benelux will then trade as an independent business under Fidelium's ownership, with its existing management team in place.

Travis Perkins will report the business as a discontinued operation in its full-year results, which are due in March 2027. The sale price of €1 reflects the unit's loss-making position and the £35 million of funding Travis Perkins is putting in ahead of completion. Sharecast reported the terms of the deal, and Travis Perkins confirmed the agreement in its own announcement.