PAI moves closer to full exit from Kwik Fit

According to press reports, PAI has appointed Credit Suisse and Morgan Stanley to analyse potential sale options after the private equity backer had received two unsolicited approaches for the business.

A sale to trade or financial bidders, which is the most likely option, would raise in the region of £650m.  Following the resetting of covenants and a £20m injection of new capital by PAI in 2009, Kwik Fit has seen a significant improvement in performance in 2010 to date.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Exits
• UK / Ireland
• PAI Partners