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CVC Capital makes partial exit from Kwik-Fit14/05/2003. Source: AltAssets. 
 CVC Capital Partners has made a partial exit from its Kwik-Fit investment less than a year after it acquired the UK auto repair outfit at a knock-down price.
Entrepreneur Tom Farmer has reclaimed part of his empire with the acquisition of four sites in Scotland and intends to target the upper end of the auto repair market by offering services for cars such as Jaguars and Mercedes, according to The Scotsman.
Farmer sold Kwik-Fit to Ford for £1bn four years ago in a disastrous deal for the buyer that amassed Farmer a personal fortune of around £80m. Ford disposed of Kwik-Fit to CVC Capital Partners in August 2002 for a cut price £330m.
‘The company is reviewing its operations to ensure it is best placed for future growth,' Kwik-Fit said in a statement.
CVC Capital Partners is expected to merge Kwik-Fit with Halfords, which it acquired from Boots in July 2002 for around £427m.
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