Gear4music plans for growth with admission to AIMPrint news article
Third AIM transaction in a month underlines national reputation for Walker Morris.
Specialist equity capital markets lawyers at Walker Morris are advising Gear4music on its admission to AIM. The IPO is the law firm’s third AIM transaction in a month and reinforces its position as one of the region’s leading firms in this field.
Gear4music is one of the largest UK-based online retailers of musical instruments and music equipment. Operating from an office, showroom and distribution centre in York, the Group sells own-brand musical instruments and music equipment alongside premium third party brands including Fender, Yamaha and Gibson, to customers ranging from beginners to musical enthusiasts and professionals, in the UK and, more recently, into Europe.
Having developed its own ecommerce platform, with multilingual, multicurrency and fully responsive design websites covering 19 countries, the Group has expanded rapidly its database (which currently has details of more than 750,000 people) and continues to build its overseas presence.
Richard Naish, corporate partner, is leading a multi-disciplinary team providing the legal advice to Gear4music. Commenting on the deal Richard Naish said:
“The IPO is a positive move for Gear4music and will provide a solid platform for future growth for this successful Yorkshire-based business. We’ve had the pleasure of working with the company for a number of years, having previously advised at the time of Key Capital Partners’ investment in 2012, making it particularly satisfying that we have been able to help with the transition from a private equity backed business to one that will be publicly quoted.”
Gear4music Chief Executive Officer, Andrew Wass, said:
“Over the last 12 years, we have established ourselves as one of the largest UK-based online retailers of musical instruments and music equipment and are well placed to build on the positive momentum we have generated to date, particularly over the last two years, which have seen our revenues almost double and our European business expand significantly.
“We are very excited about this next stage in our development, with our forthcoming flotation on AIM enabling us to develop further our bespoke ecommerce platform, invest in additional marketing initiatives, extend the range of products we stock and open a flagship showroom in central London.”
Last week Walker Morris advised on Cleeve Capital’s acquisition of Satellite Solutions Worldwide and its admission to AIM and last month advised on Mobile Tornado Group’s share placing on AIM.
Panmure Gordon is acting as Financial Adviser, Nominated Adviser and Broker to Gear4music.