Travis Perkins has agreed to sell its Toolstation Benelux business to Fidelium Partners for €1 in cash, the FTSE 250 builders' merchant said on 10 November 2026, and will inject about £35m into the business before it changes hands.
Why Fidelium Partners is buying Toolstation Benelux
Travis Perkins said the disposal simplifies its operating model, supports a return to profit growth and lets it redirect resources to its UK business. Fidelium, a Munich-based investment firm, will keep the existing management team led by managing director Phillip Mes.
“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.”
Deal terms and financing
Toolstation Benelux will be treated as a discontinued operation in the FY26 accounts, with its expected full-year loss of about £10m excluded from adjusted operating profit. Toolstation Benelux sales fell 6.1% in the first half of 2026 and its operating loss rose to £7m.
Regulatory approvals and timing
Completion is expected before the end of 2026, subject to the applicable works council consultation process in the Netherlands.
Market context
Toolstation withdrew from France at the end of 2024, and Travis Perkins launched a strategic review of the Benelux operation in March 2026.
