Gear4music.com, a York, UK-based online musical instrument retailer, has received a £3.4m minority investment from private equity firm Key Capital Partners.
In addition to the investment, the corporate and structured finance team of Yorkshire Bank (Leeds, UK) re-financed Gear4Music’s existing facilities.
The company intends to use the capital to develop its technology platform, increase its product offerings, and expand in the UK and in Europe. According to reports, it is imminent the launch of 22 new localized versions of the Gear4music.com website.
Founded in 2003 by managing director Andrew Wass, Gear4music.com is currently one of the largest retailers of musical instruments and equipment in the UK, now having over 200,000 registered customers.
It offers iconic brands such as Fender, Gibson, Yamaha and Roland, and its own range of branded products (such as Black Knight guitars, Coppergate brass instruments and Minster keyboards and pianos).
The company has a showroom and retail outlet in York. UK.
In conjunction with the financing, Mark Buttler, KCP director, has joined Gear4music.com’s board along with new chairman Dean Murray.
FinSMEs
21/03/2012