Kwik Fit

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Kwik Fit
Type Subsidiary
Industry Tyre retailing and vehicle servicing
Founded 1971
Parent Itochu
Website www.kwik-fit.com

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 2013 there are over 600 Kwik Fit centres in the UK[citation needed].

History[edit]

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 UK's leading car insurance distributors.

In 1999, Farmer sold the company to the Ford Motor Company for US $1.6b.[1] A decision by Ford to concentrate on its core business led to the sale of Kwik Fit in 2002 to CVC Capital Partners. In 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 2010.[2] while the tyre retailing and service centre business is now owned by ITOCHU Corporation.[3][4]

Advertising[edit]

First shown in 1984, the ‘You Can’t Get Better Than a Kwik-Fit Fitter’ adverts were broadcast on the main commercial UK television channels. The Kwik-Fit fitter returned to TV in 2008 with the ‘You’ll Be Amazed at What We Do’ campaign.

Training[edit]

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

See also[edit]

References[edit]

  1. ^ "Remaking Ford", Business Week, October 11, 1999
  2. ^ "Fortis completes Kwik Fit acquisition". Retrieved 2012-09-16. 
  3. ^ http://www.itochu.co.jp/en/news/2011/110303.html
  4. ^ http://www.paipartners.com/PDF/Press_release_KF_04-07-2011.pdf

Coordinates: 55°56′3″N 3°27′12″W / 55.93417°N 3.45333°W / 55.93417; -3.45333