EQT VI sells VERTU
• EQT VI has completed the sale of VERTU to a group of international private investors
• All required transaction approvals have been received
EQT VI has completed the sale of Vertu Corporation Limited (“VERTU” or “the Company”), the leading manufacturer of luxury mobile phones and related accessories to a group of international private investors.
VERTU designs, manufactures and sells luxury mobile phones and related accessories in over 66 countries through its own retail stores, independent distributors and more recently through its eCommerce platform. Since its establishment in 1998 as a subsidiary of Nokia, VERTU has defined the market for luxury mobile phones which it continues to lead. VERTU is headquartered in Church Crookham, UK and has over 800 employees worldwide.
EQT VI acquired VERTU in 2012. During EQT VI’s ownership, VERTU has transferred the Company’s operating system from Symbian to Google’s Android, launched a range of new devices that are industry leading both from a design and technology point of view, and made substantial investment in go-to-market approach to step change customer experience. This renewed customer centric strategy has resulted in a successful improvement of Vertu's luxury brand positioning.
“We believe VERTU is operationally stronger today with a leading position in the luxury mobile phone market. VERTU is now ready to take the next step in its development together with a new owner,” says Caspar Callerström, Partner at EQT Partners AB, Investment Advisor to EQT VI.
The transaction has received the required approvals. The parties have agreed to keep the transaction details undisclosed.
Caspar Callerström, Partner at EQT Partners, Investment Advisor to EQT VI +46 8 506 55 317
Kerstin Danasten, EQT press contact +46 8 506 55 334
Andrew Leach, Vertu press contact +44 7803 233 403
EQT is a leading private equity group in Europe, with portfolio companies across Europe, Asia and the US with total sales of more than EUR 17 billion and approximately 140,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
For further information please visit www.eqt.se
VERTU is the leading designer and manufacturer of luxury mobile phones and related accessories. The company distributes its products in over 66 countries through its own retail stores, independent distributors and its eCommerce platform. VERTU is headquartered in Church Crookham, UK and has over 800 employees worldwide.
For further information please visit www.vertu.com