Vertu Motors
 | |
| Company type | Public |
|---|---|
| LSE: VTU | |
| Founded | November 2006 [1] |
| Headquarters | |
Key people | Robert Forester (CEO) |
| Website | VertuMotors.com |
Vertu Motors PLC is a car dealership group which was established in 2006 in the United Kingdom. It is listed on the Alternative Investment Market. The company began trading in February 2007 after acquiring Bristol Street Motors, a car dealership based in Birmingham, 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 July 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 May 2013.[5]
The dealers were rebranded as Vertu Land Rover in May 2021.[6] 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.[7]
Sponsorships[edit]
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.[8]
The company is active in motorsport, having sponsored the EXCELR8 Motorsport British Touring Car Championship team since the 2022 season of the championship. It is also the title sponsor of the MINI Challenge UK, a role it adopted from the start of the 2023 season of the tournament.
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.
- ^ "Constellation Automotive owner TDR Capital acquires stake in Vertu Motors". www.am-online.com. 8 February 2023. Retrieved 26 December 2023.
- ^ "Bristol Street Motors drives EFL Trophy into new era". EFL. 2 November 2023. Retrieved 2 November 2023.
External links[edit]
 | This article about an automotive industry corporation or company is a stub. You can help Wikipedia by expanding it. |