Foresight rocks out with £3.5m Blackstar investment

The deal saw Catapult Venture Managers exit the business – the GP had backed Blackstar with an early-stage investment in 2007, prior to the business turning in its first revenues. Catapult reaped a 4.3x multiple on its investment.

In addition to allowing Catapult to exit, the fresh capital will be used to support the launch of Blackstar's ID:Series range of guitar amplifiers.

Company
Established in 2004, Northampton-based Blackstar started by developing tube-powered guitar amplifiers, aiming for a lower cost compared with traditionally expensive offerings from more established brands such as Marshall and Fender. It started commercialising its first products in 2007.

Since then, Blackstar has diversified its offering by designing guitar effect pedals. Its range now includes 45 products sold in 52 countries.

People
Darrell Connell led the deal for Foresight – he joined the company's board following the deal. Keith Pacey, the former CEO of Maplin Electronics, joined the board as well. Jonathan Earl represented Catapult on the transaction.

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• Topics
• UK / Ireland
• Expansion
• Consumer
• Exits
• United Kingdom
• Foresight Group