Fleet News

Silver Shield takeover signals new glass war

THE windscreen replacement industry is preparing for a battle royal in the new year following the purchase of the third biggest player in the market, Silver Shield Screens, by Ford-owned Kwik-Fit. The fast-fit company will pay £8 million in cash for Silver Shield Screens and the current owner, Silver Shield Group, is recommending the offer, which is expected to be completed early next year subject to shareholder approval in January.

Sir Tom Farmer, chairman and chief executive of Kwik-Fit, wants to double the size of the new acquisition 'as soon as possible'. His ambitious plans will fall on the shoulders of Silver Shield Screens managing director Keith Walker, who remains in place with much of the management team following the purchase. Silver Shield Screens' current network of franchised outlets are expected to remain, but the increased network is likely to be through owned outlets.

Sir Tom said: 'I said it was Kwik-Fit's intention to create a service for car users from the showroom to the scrapyard and this is just part of it. Silver Shield Screens will strengthen our relationships with fleet customers, which will form a large part of the business.'

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee