Who owns the Vertu brand?
Until the middle of this year, Vertu belonged to the Finnish concern Nokia, which manufactures various telecommunications equipment, among which mobile phones hold the lion’s share. The company producing luxury phones was a separate division with headquarters in England. She was founded 14 years ago by Frank Nuovo, chief designer of the Nokia concern. However, in recent years, the Finnish concern, like many manufacturers of mobile communications, began to experience financial difficulties. They were forced to look for additional funds even at the expense of a massive reduction of workers in Nokia’s factories around the world. At the same time, the production of Vertu mobile phones continues to grow steadily and this division of the Finnish concern is one of Nokia’s most liquid assets.
In 2011, Nokia decided to improve its financial position by selling a larger share of Vertu. Searches and long negotiations led to the conclusion of an agreement with the Swedish investment company EQT Partners AB in the summer of 2012.The official buyer of 90% of Vertu's assets was one of 14 EQT Partners funds called EQT VI. The Swedish concern was founded relatively recently - in 1994 - and is intended to invest money from a group of private investors in transactions for the purchase or conversion of medium and large-scale industries. The transactions known so far were carried out in Europe, the USA and China, and the amounts that the Swedish fund invested in them independently or with other partners were not lower than 50 million euros. As a rule, after the company is acquired, a representative of the new owner is included in its management body, and changes necessary for the investor are made to the company's policy. It became known that EQT Partners plans to invest additional money in the development of new models of Vertu phones and the expansion of retail sales.
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