Gear4music is one of the largest UK based online retailers of musical instruments and music equipment with established partnerships with major brands and a bespoke platform operating in 19 countries. The net proceeds from the Placing of approximately £9.0m will be used to:
- Develop further Gear4music's bespoke ecommerce platform;
- Invest in additional marketing initiatives;
- Extend the range of products;
- Open a flagship showroom in London;
- Pay down debt.
Andrew Wass, Chief Executive Officer of Gear4music said:
“Work on the IPO of Gear 4 Music began with the Panmure Gordon Investment Banking team well over a year before we actually listed. They took the time to really understand our business, our needs and ultimately delivered the right result. The IPO has provided a strong return for our Private Equity backers while at the same time providing the capital to fuel growth for our next stage of development. We are extremely pleased to have completed this successful fundraising, and our thanks go to Panmure Gordon for their support and advice through this process.”