Tue, 01 Jun 2010 | BUSINESS SALE
It is understood that an auction for car MOT business Kwik-Fit is being considered by its French private equity owners, PAI Partners, after Kwik-Fit's insurance division was placed on the market in February this year.
Third parties said to be mulling a bid approach for the business include private equity firms Blackstone, KKR and Permira, while Japanese tyre manufacturer Bridgestone, and owner of European garage company Truck Point, is also thought to be a potential bidder.
PAI purchased the motor repair business for £800 million in 2005 from private equity group CVC.
Its resilience during the recession is an attractive selling point for Kwik-Fit, despite its substantial debts of £780 million. It has benefited from a new tendency for cash-strapped car owners to repair their vehicles rather than replace them.
Established in 1995, the business now operates about 600 car repair centres in the UK and another 500 in Europe. It has been predicted that its sales could increase by 10 per cent in 2010 to reach beyond £1 billion.
Its operating profits are expected to hit £150 million. The business has recently mentioned that it is 17 per cent ahead of profit targets.
A spokesman for Kwik-Fit would not discuss a possible sale of the whole business, but did confirm that the insurance subsidiary is still available to buy.
An asking price of £250 million for Kwik-Fit has been mentioned in reports.
The company provides UK-wide distribution solutions, specialising in Hiab hire and transporting cargo that requires ADR certification. The business utilises its proficient drivers and fleet to effectively collect and distribute goods of all sizes, in...
This is a unique opportunity to acquire a well-established scaffolding supply business in Scotland, offering comprehensive services and working with blue-chip clients across various industries.
This reputable company is a leading supplier and installer of commercial flooring and hygienic wall cladding, known for its strong relationships and premier installer status with a market-leading manufacturer. With a broad range of installation solut...
15
|
Jul
|
Business and assets of furniture manufacturer acquired in pre-pack deal | BUSINESS SALE
The business and assets of a Wiltshire-based furniture manuf...
15
|
Jul
|
DJH continues acquisition drive with first takeover in Ireland | BUSINESS SALE
Private equity-backed accountancy and professional services ...
15
|
Jul
|
Hospitality giant acquires £12.3m-turnover hotel group | BUSINESS SALE
Property, construction and hospitality giant The Arora Group...
15
|
Jul
|
Socotec acquires East Kilbride-based fire testing laboratory | BUSINESS SALE
Testing and certification specialist Socotec UK and Ireland ...
15
|
Jul
|
UK administrations update: July 8 - 15 | ADMINISTRATION
Since our last update, the following businesses have been co...
15
|
Jul
|
Hospitality giant acquires £12.3m-turnover hotel group | BUSINESS SALE
Property, construction and hospitality giant The Arora Group...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.