Kwik-Fit Insurance Services has scotched rumours that it will be sold by the new owner of Kwik-Fit Group, CVC Capital Partners.

CVC Capital Partners concluded the acquisition of Kwik-Fit Group from Ford Motor Company at the end of 2002.

This has fuelled speculation that the venture capitalist would split the group up and sell off non-core businesses, before floating, or selling the core tyre and exhaust replacement business.

Market experts reckoned that suitors could include Budget, People's Choice or Swinton.

But Kwik-Fit Insurance Services managing director Martin Oliver said: "There are no plans to put the business up for sale. Following the acquisition of the Kwik-Fit Group by CVC Capital Partners last year, it's business as usual for Kwik-Fit Insurance Services."