Kwik Fit
Kwik Fit is a car servicing and repair company in the United Kingdom. As of , there are over six hundred Kwik Fit locations in the United Kingdom. Kwik Fit also has locations in continental Europe.
History
opened the first Kwik Fit location in McDonald Road, Edinburgh, Scotland, in 1971. In May 1995, Kwik Fit Insurance, part of Kwik Fit Financial Services, was formed, and has since grown to become one of the leading car insurance distributors in the United Kingdom.In October 1999, Kwik Fit had grown to over 2,000 locations throughout Europe, and Farmer sold the company to the Ford Motor Company for US$1.6bn. A decision by Ford to concentrate on its core business led to the sale of Kwik Fit in August 2002, to CVC Capital Partners for only £330m. In June 2005, Kwik Fit was sold for £800m, to PAI Partners, a French-based private equity firm.
The Kwik Fit Financial Services arm of the business, was sold by PAI to Fortis Insurance UK, now Ageas Limited, for a figure of £215m in July 2010. The tyre retailing and service centre business was bought by Itochu Corporation in March 2011.