European private equity investor deploying capital from an active fund, seeking a defensible platform. Target is general wholesale & distribution in wholesale & distribution with predictable demand, strong controls and credible management. Investor is currently in fund with committed capital for near term execution. Investor has completed multiple prior acquisitions across Europe and the UK, including platform and bolt on deals. Full acquisition preferred, with flexibility for majority structures where there is alignment on valuation and governance. Prepared to keep leadership in place where continuity protects performance and.