Kwik Fit

Kwik Fit
Subsidiary
Industry Tyre retailing and vehicle servicing
Founded 1971
Headquarters Edinburgh, Scotland
Parent Itochu
Website www.kwik-fit.com
Kwik Fit, Kirklees (2010)
Kwik Fit, Bermondsey (2010)

Kwik Fit is a car servicing and repair company in the United Kingdom, specialising in tyres, brakes, exhausts, MOT testing, car servicing, air conditioning recharge, oil changes and windscreen repair. As of 2015, there are over 600 Kwik Fit centres within the United Kingdom and Ireland[1]

History

Kwik fit was bought into the UK by James Alexander Merritt a former businessman. Originally called Euro Exhausts ltd in the 60s, this was then sold to Sir Tom Farmer in 1970. Sir Tom Farmer opened the first Kwik Fit centre in McDonald Road, Edinburgh, in 1971. In 1973, the first centre was opened in the Netherlands, and with the acquisition of Speedy in France, the company now has over 570 centres in mainland Europe. In 1995, Kwik Fit Insurance, part of Kwik Fit Financial Services, was formed and has since grown to become one of the United Kingdom's leading car insurance distributors.

In October 1999, Farmer sold the company to the Ford Motor Company for US $1.6b.[2] A decision by Ford to concentrate on its core business, led to the sale of Kwik Fit in August 2002, to CVC Capital Partners. In June 2005, Kwik Fit was sold for £800M, to PAI Partners, a leading French-based private equity firm. The Kwik Fit Financial Services arm of the business, was sold by PAI to Fortis Insurance UK, now Ageas (UK) Limited, for a figure of £215M in July 2010.[3] The tyre retailing and service centre business was bought by ITOCHU Corporation in 2011.[4][5]

Advertising

First shown in 1984, the "You Can't Get Better Than a Kwik-Fit Fitter" adverts were broadcast on the main United Kingdom television channels. In 2008, the Kwik Fit fitter returned to television, with the "You'll Be Amazed at What We Do" campaign.

Training

In 1990, Kwik Fit received its first national training award. In January 2009, Kwik Fit was awarded Beacon status from the Learning and Skills Improvement Service (LSIS) for its further educations training programmes. This was given following a successful Ofsted inspection, in which programmes were graded 'outstanding'.

See also

References

  1. ↑ "MoT Testing && Servicing". kwik-fit.com.
  2. ↑ "Remaking Ford", Business Week, 11 October 1999
  3. ↑ "Fortis completes Kwik Fit acquisition". Retrieved 16 September 2012.
  4. ↑ "ITOCHU reaches agreement to acquire Kwik-Fit Group, UK　No.1　tyre retailer". itochu.co.jp.
  5. ↑ "PAI - 404 Page not found" (PDF). paipartners.com. Archived from the original (PDF) on August 12, 2011.
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Coordinates: 55°56′3″N 3°27′12″W / 55.93417°N 3.45333°W / 55.93417; -3.45333

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