Kwik Fit, the UK based automotive service and parts repair and replacement group is to select an investment bank to lead the possible sale of the company. Parent company CVC Capital Partners is expected to appoint advisers to implement a sale or IPO strategy shortly. Although IPO talk has previously surfaced, CVC is also prepared to initiate a sale if enough interest is forthcoming. Kwik Fit, with annual turnover of £750m is valued at around £700m more than double the £330m CVC paid for it in 2002.