The private equity firm that bought Kwik-Fit last week has said there are no immediate plans to sell off the broking arm Kwik-Fit Insurance Services.

French buy-out group PAI bought the the car repair and financial services company for £800m, after it was put up for sale by CVC Capital in April.

It is understood that PAI beat a number of other bidders including a consortium led by tyre firm Bridgestone.

A PAI spokeswoman said: "PAI plans to keep Kwik-Fit as it is and has stated that it will retain [Kwik-Fit Insurance Services'] Scottish call centre. There are no plans for job losses or any changes at this stage."

Patrick Smith, chief executive of rival Swinton said: "Of course we would look at the insurance division of Kwik-Fit if it was put up for sale, but I have heard no indication of this. It looks as if it is an integral part of the business and it would not make sense to separate it," he added.

Kwik-Fit Insurance Services managing director Martin Oliver was unavailable for comment.