Kwik Fit Expands Property Portfolio with Major Acquisition
Deal News | Jun 25, 2025 | Shoosmiths
Shoosmiths has provided legal counsel to Kwik Fit, a key player in the UK automobile service industry and part of European Tyre Enterprise Limited (ETEL), on its successful acquisition of 83 UK properties. This acquisition enhances Kwik Fit’s strategy of bringing more sites into direct ownership, extending its reach within Scotland by over 30 sites. The deal required careful navigation of multi-jurisdictional legal frameworks and received necessary permissions from the Hong Kong Securities and Futures Commission due to its classification as a special deal under the Takeovers Code. The property portfolio was purchased from Hawkeye Properties 501 Limited, a Jersey entity under Spring Real Estate Investment Trust, listed on the Hong Kong Stock Exchange. This transaction marks another successful collaboration between Kwik Fit and Shoosmiths, who specializes in international and complex legal services. Both firms emphasize this transaction’s vital role in Kwik Fit's strategic plans for expansion across the UK and Ireland.
Sectors
- Real Estate
- Automobile Services
- Legal Services
Geography
- United Kingdom – The acquisition involves properties located across the UK, with a significant number of sites in Scotland.
- Hong Kong – The transaction required approval from the Securities and Futures Commission of Hong Kong due to its classification as a special deal under the Takeovers Code.
- Japan – Kwik Fit’s ultimate parent company is listed on the Tokyo Stock Exchange, linking the transaction to Japan.
Industry
- Real Estate – Kwik Fit is expanding its ownership of properties, indicating significant activity in the real estate sector.
- Automobile Services – Kwik Fit is a leading UK tyre, MOT, and car servicing retailer, highlighting their operations within the automobile services industry.
- Legal Services – Shoosmiths provided legal advisory services for the transaction, showcasing the role of legal services in handling international and complex deals.
Financials
- Undisclosed – The financial terms of the transaction were not publicly disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kwik Fit | Target | Company | A leading tyre, MOT, and car servicing retailer in the UK, part of European Tyre Enterprise Limited (ETEL). |
| European Tyre Enterprise Limited (ETEL) | Other | Company | The parent company of Kwik Fit, involved in supporting the strategic expansion through property acquisitions. |
| Shoosmiths | Legal Advisor | Company | A law firm advising Kwik Fit on the UK aspects of the transaction, specializing in complex and international deals. |
| Hawkeye Properties 501 Limited | Vendor | Company | A Jersey entity managing the properties acquired by Kwik Fit, ultimately held by Spring Real Estate Investment Trust. |
| Spring Real Estate Investment Trust | Other | Company | Listed on the Hong Kong Stock Exchange, the ultimate holding entity of Hawkeye Properties 501 Limited. |
| Securities and Futures Commission of Hong Kong | Regulatory Body | Government | The regulatory body that provided consent for the transaction as it was classified as a special deal under the Takeovers Code. |
| Paul Dempsey | Group Property Director at ETEL | Person | A key spokesperson highlighting the strategic importance of this transaction for Kwik Fit. |
| Sheelagh Cooley | Partner and Real Estate Finance Co-Head at Shoosmiths | Person | Led the advisory team on the transaction, highlighting the deal's complexity and Shoosmiths' role. |