News

Osborne Clarke advises on £48 million sale of Toolstation to Travis Perkins

4 Jan 2012

Osborne Clarke has advised Toolstation founder Mark Goddard-Watts on the sale of the remaining 70% of the issued share capital of the home improvement chain to do-it-yourself retailer Travis Perkins. OC advised on the initial sale of 30% of the share capital to Travis Perkins in 2008. The consideration is made up of £24 million for the current 70%, £18 million for the previous 30% plus a further payment dependent upon future performance and expansion of the business over the period to December 2013.

Osborne Clarke corporate partner Alisdair Livingstone advised Mark Goddard-Watts and other family members.

Alisdair Livingstone, corporate partner, Osborne Clarke said:

"It was good to work with Mark again on the sale of his remaining holding in Toolstation. Travis Perkins will continue to support Toolstation in its roll out of branches and to achieve its growth potential.”

Toolstation was advised by Osborne Clarke corporate partner Alisdair Livingstone. Travis Perkins was advised by Hewitsons partner David Browne.