Vertu Motors’ strategic success recognised
Muckle LLP would like to congratulate Vertu Motors PLC on winning the â€˜Best use of AIMâ€™ prize at the recent National AIM awards.
Vertu, based in Newcastle-upon-Tyne, is an AIM-listed investment vehicle headed by former Reg Vardy executive Robert Forrester.
Muckle LLP helps with growth
In 2006 Muckle LLP advised Vertu on strategic funding options ahead of it’s float on AIM which raised Â£25m as a war chest to use to buy motor retail businesses.
By March 2007, Vertu announced that it had agreed to buy Bristol Street Motors. This deal took it overnight to become the 10th largest motor retail chain in the UK.
Since then, Vertu has grown by further acquisition and has built a formidable reputation in its sector. So much so that earlier this year, despite the dire economic conditions, shareholders supported it by giving it a further Â£30m to enable it to pick up opportunities in the market. Vertu is currently valued by the stock market at over Â£100m.