Key Capital Partners invests £3.4m in Gear4music.com
Key Capital Partners has acquired a minority stake worth £3.4m in British online retailer Gear4music.com.
The new capital will support the company's growth in the European market.
Yorkshire Bank's Corporate and Structured Finance team from Leeds provided continued backing for Gear4Music, an existing customer, by refinancing the company's existing banking facilities.
Company
Gear4music.com is a York-based online retailer for musical instruments and other music equipment. The business was founded by managing director Andrew Wass in 2003.
Gear4music.com has 22 localised sites and a retail outlet in York. It recorded £7m in revenues in 2008/2009 and £10.2m in 2011/2012.
People
Mark Butler, director, led the deal on behalf of KCP and has joined the company's board. Dean Murray has joined the board as chairman. Andrew Wass is managing director of Gear4music.com.
Advisers
Equity - Squire Sanders, Jonathan Jones, Paul Mann (Legal).
Company - Walker Morris, John Hamer, Joanna Jowitt (Legal).
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