French PAI Partners sells portfolio group to ITOCHU
Japanese trading conglomerate ITOCHU Co. has acquired 100% of the shares in leading UK fast-fit and automotive parts replacement specialist Kwik-Fit Group from PAI Partners, a European private equity firm, for £637 million($889 million).
After Kwik-Fit was taken over by the French firm in 2005, the company struggled with declining sales in light of the GFC, leading PAI in December 2009 to make an additional, £20million ($28 million) capital...
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