Travis Perkins, one of the UK’s leading builders’ merchants, has this week announced that they have sold one of their businesses. According to sources, Birchwood Price Tools, a tool hire and workwear brand, will no longer be under Travel Perkin’s control, sold to a south-west firm.
Purchased by Travis Perkins back in 2011, the business has only been under the brand’s reign for 7 years. Now, BPT will be owned by tools supplier and distributor, Toolstream. Though a successful brand with customers all over the country, the sum paid for the company has yet to be revealed.
Happy to see this acquisition take place, Matt Hunt, BPT managing director, said the following:
“The trust that customers are placing in BPT, the pull from tradespeople and skilled professionals for BPT’s brands and the company’s results, are all speaking for themselves as the company goes from strength to strength.
“This is an exciting new chapter for our company and teams. Travis Perkins was clear it would only sell BPT to an organisation that would value our brands and our people, and that would offer the expertise and support to help us to continue to develop and implement our ambitious growth plans.”
But, ‘who are Toolstream?’ we hear you ask. Well, Toolstream is another credible brand within the industry. BPT will now be a part of Toolstream’s ever-growing portfolio of successful businesses. This includes Triton, GMC, Dickie Dyer, Task and Bench Dog.
Hunt added: “We’re delighted that Toolstream has acquired us. Under our new ownership we will continue to improve our overall proposition and partnership approach, which will benefit, first and foremost, our existing valued and loyal customers who have been reselling our brands, in many cases, for years.
“We will also look to develop new relationships with organisations that we’ve not previously supplied, leveraging our expertise and proven success in a number of sectors.”
Let us know what you think, was this a good move for the tool hire brand?