Endless has invested £11m in the company.
Bathstore now intends to use the proceeds to develop the store estate and the e-commerce offering.
The company currently employs around 500 people and operates through a network of 169 stores across the UK. It recorded sales in 2011 of £95m, delivering EBITDA of £6.5m.
Wolseley had identified the business as a non-core operation.