Europe's Kwik-Fit chain to be sold
CVC Capital Partners has announced its intention to sell European tire and service chain Kwik-Fit Group Ltd. to Speedy 1 Ltd.
Kwik-Fit has 1,685 locations throughout the United Kingdom, France, Germany and the Netherlands. It also operates 215 mobile units.
CVC acquired Kwik-Fit, which was founded in 1971, three years ago. The chain "is now delivering substantially improved financial performance," says CVC Partner Rob Lucas.
Speedy 1 representative Hamish Mackenzie says Kwik-Fit "has exceptional brand recognition in its key markets and benefits from significant growth as a market leader."