UK online retailer of music equipment wants to raise £8m
Gear4Music, a UK online retailer of music equipment with float on London’s Alternative Investment Market (AIM) with a valuation of around £25m.
The Yorkshire based firm sells musical instruments and said sales were up over one third to £24m for the year to February.
The firm hopes to raise £8m.
The investment will finance grow of the company’s 19 different language web sites across Europe.
Andrew Wass, founder, 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." .
The UK market for musical equipment is reported to be worth in the region of £750m compared with $7bn in the US.