Acquisition of AA Causes Kwik-Fit Management Changes

The recent acquisition of the AA by private equity groups CVC Capital Partners and Permira has led to management changes at Kwik-Fit. The initial impact was felt as soon as the purchase was made public when Kwik-Fit chairman, Sir Trevor Chinn, and chief executive, Tim Parker, announced that they would move to the AA on completion of the deal.

Now, Kwik-Fit has appointed Mike Wise to co-ordinate all the company’s UK fast fit activities. Mr Wise had been fleet sales director at the company since November 2002.

Although CVC and Permira’s acquisition will mean that the AA and Kwik-Fit will be owned by the same group, there company says it has no plans to join the two organisations together. “We will continue to perform well across all our main operating businesses and we have well-prepared plans to continue our growth in the future. Those plans do not include merging the AA and Kwik-Fit. They will remain quite separate companies.”

As a consequence of Mr Wise’s temporary move to head up Kwik-Fit (GB), director of corporate accounts, Nigel Davies will share interim responsibility for fleet business with finance director Chris Higgins.

Former Kwik-Fit chief executive, Tim Parker will still retain his involvement in the company by becoming non-executive deputy chairman. As a result of Mr Parker’s move away from the day-to-day running of the business, finance director, Ken McGill, will take responsibility for the company’s European businesses and Kwik-Fit Financial Services. Kwik-Fit operations director Paul Boulton, who will report to Mr Wise, will continue to head up retail operations.

“We have commenced a search for a new chief executive, and we will not compromise on the quality of candidate. There is now considerable momentum in the business and we want to maintain the excellent progress achieved by our own people throughout the company.

“Mike has a long career in the fast fit industry behind him, culminating most recently in an extremely successful period in charge of our fleet business. I know that the crown jewels of our business will be in safe hands and the highly effective operating team of Kwik-Fit (GB) will continue to turn in excellent results,” said non-executive deputy chairman, Tim Parker.

Referring to his new position Mr Wise said, “it is an exciting opportunity, albeit on an interim basis. I will now be responsible for all Kwik-Fit fast-fit activities including Kwik-Fit Fleet and Kwik-Fit mobile.”