Yorkshire and North East Dealmakers Guide 2016 - 31
DEAL SHOWCASE
Leeds-based private equity firm KCP's investment in Gear4Music,
the York-based online musical instruments business, has helped the
company to achieve spectacular growth and led to a successful IPO.
Making a
noise online
A £3.4 million investment by Key
Capital Partners (KCP) in Gear4Music
in 2012 has helped the company
to become the UK's leading online
musical instrument retailer. The deal,
which saw KCP take a 30% shareholding
and a seat on the board, has led to
sales growing from just £10 million
four years ago to close to £50 million.
The investment was used to buy out
an angel investor and to provide the
company with the financial firepower
to drive the next stage of its growth and
development. Specifically, it enabled
Gear4Music to invest in stock, build 19
European websites and to appoint both
a finance director and a commercial
director to help CEO Andrew Wass
swiftly move the business forward.
As is quite typical with businesses
of this size, since founding the company,
Andrew had been responsible for
almost everything within it, but had
come to realise that if Gear4Music
was to continue to grow, he needed
some management support.
KCP's investment also enabled
the business to relocate to a 135,000
square foot warehouse and head office
in York and to create a state-of-theart showroom. The creation of an
international e-commerce platform
resulted in impressive sales growth,
helping Gear4Music achieve a
T: 0113 280 6400
Peter Armitage, Partner
The transformation of Gear
4Music since
our investment
has been quite
spectacular
was a massive support, providing
sound advice and guiding us through
the float process."
The transformation of Gear4Music
since our investment has been
quite spectacular. Most of this is, of
course, down to Andrew Wass and
his management team, but it is very
satisfying to have been a part of that
success and to have provided the
investment catalyst. We are now on
the lookout for similar investment
opportunities where we hope to work
the same magic.
successful IPO in June 2015, valuing
the business in excess of £28 million.
The float raised further finance enabling
it to continue on its growth curve with
sales currently up by 66% on the
previous year.
Gear4Music CEO Andrew Wass,
said: "Securing the backing of KCP
has certainly played a key part in our
success. Not only did it enable us to
expand our online offering throughout
Europe, it put us in a strong position
to launch a successful IPO. Having the
input of such experienced investors
E: Peter.armitage@keycapitalpartners.co.uk
W: www.keycapitalpartners.co.uk
31
http://www.keycapitalpartners.co.uk
http://www.keycapitalpartners.co.uk
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