Gear4Music which sells a range of 27,000 SKUs from its warehouse showroom in York and to online customers in the UK and internationally has revealed its plans to float on AIM. Founded by a musician, Andrew Wass, Key Capital Partners acquired a stake in the business in 2012 for £3.4 million. The business, which was founded in 2003 and sells major brands like Fender, also manufactures instruments under its own brand and has benefited from the decline in independent music stores in UK high streets. New funds will be used to open a London showroom to mirror its one in York as well as to develop its international online revenues.
Gear4Music is expected to realise a valuation of around £26 million.
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