Vertu Motors
 | |
| Company type | Public |
|---|---|
| LSE: VTU | |
| Founded | 2006 [1] |
| Headquarters | |
Key people | Robert Forester (CEO) |
| Website | VertuMotors.com |
Vertu Motors PLC is a car dealership group established in 2006 in the United Kingdom. It is listed on the Alternative Investment Market. The company began trading in 2007 after acquiring Bristol Street Motors, a Birmingham-based car dealership, for £38 million cash, £9 million of shares and assumed debt of £29 million.[2]
The company sells a variety of car marques under the names Vertu, Bristol Street Motors and Macklin Motors, the last of which was acquired by Vertu in Scotland in 2010.[3][4] The company's largest acquisition since its establishment with Bristol Street Motors was the £31 million purchase of the Yorkshire-based dealership Farnell Land Rover in 2013.[5] They were rebranded as Vertu Land Rover in 2021.[6]
In 2018, Vertu acquired Hughes Group Holdings and its subsidiary Hughes of Beaconsfield for £21.8m[7]
The company provides vehicle leasing for personal and business use under the brand Vertu Lease Cars.
In February 2023, TDR Capital acquired a 3.1% stake in Vertu Motors.[8]
Sponsorships
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Vertu sponsors the Newcastle Eagles basketball team, whose home stadium is now called the Vertu Motors Arena. In November 2023, Vertu Motors was named the Official Car Dealer of the English Football League, with the EFL Trophy being renamed the Bristol Street Motors Trophy until 2025 as part of the deal.[9]
The company is active in motorsport, having sponsored the EXCELR8 Motorsport British Touring Car Championship team since the 2022 season. It is also the title sponsor of the MINI Challenge UK, a role it adopted from the start of the 2023 season.
Vertu is a shirt sponsor of Yorkshire County Cricket Club.
References
[edit]- ^ "Vertu Motors: why listed car dealership has scope for another bonanza year". thearmchairtrader.com. 12 January 2022. Retrieved 26 July 2022.
- ^ "Scots dealers set pace for soaring profits at Vertu Motors". Herald Scotland. 16 October 2013. Retrieved 16 January 2015.
- ^ "Vertu buys Co-Op's Land Rover sites". Automotive Management. 21 May 2013. Retrieved 16 January 2015.
- ^ "Vertu Motors PLC VTU Completion of Macklin Motors Acquisition". Bloomberg. 1 July 2010. Retrieved 16 January 2015.
- ^ "Vertu Motors unveils acquisition". Financial Times. 22 May 2013. Retrieved 16 January 2015.
- ^ "Vertu Motors to grow scale and 'big brand' marketing profile in 2021". am-online.com. 12 May 2021. Retrieved 26 July 2022.
- ^ "Vertu grows Mercedes-Benz business with Hughes acquisition". Motor Trader. 2 July 2018. Retrieved 16 October 2024.
- ^ "Constellation Automotive owner TDR Capital acquires stake in Vertu Motors". www.am-online.com. Retrieved 2023-12-26.
- ^ "Bristol Street Motors drives EFL Trophy into new era". EFL. 2023-11-02. Retrieved 2023-11-02.
External links
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