Kwik Fit

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 2017, there are over 600 Kwik Fit centres within the United Kingdom and IrelandHistoryKwik fit was brought into the United Kingdom by James Alexander Merritt, a former businessman. Originally called Euro Exhausts ltd in the 1960s, this was then sold to Sir Tom Farmer in 1970. 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$1.6bn. A decision by Ford to concentrate on its core business, led to the sale of Kwik Fit in August 2002, to CVC Capital Partners. 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. The tyre retailing and service centre business was bought by ITOCHU Corporation in March 2011.