FTM Tyrefit, also owned by Montinex, was not put into receivership because it had different funding arrangements, but the for sale signs also went up. It acts as a buying network for 1,000 independent fast-fit centres and 340 mobile tyre-fitters, using their combined purchasing power to achieve lower prices from suppliers.
The purchase boosts Kwik-Fit's dominance of the fast-fit market, with more than 2,000 service points, including mobile centres, throughout Europe. The firm is evaluating its purchases and the businesses could either be incorporated into Kwik-Fit's Tyre Plus subsidiary or its Stop 'n' Steer brand as it seeks to expand into the vehicle servicing market. However, Kwik-Fit could consider the branding is strong enough to stay the same.