Fleet News

Kwik-Fit buys Montinex sites from firm's receiver

KWIK-Fit has acquired a number of sites from the receiver of fast-fit and tyre firm Montinex, including Charlie Browns, along with its FTM Tyrefit brand. Montinex and its subsidiaries Chessington Tyres, Imaco International trading as Northway Tyres, Exhaust Despatch trading as Malvern Tyres and Charlie Browns, were put up for sale last month by receiver Ernst & Young.

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.

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