Gear4Music set for surge in sales
ONLINE retailer of musical instruments and equipment Gear4Music.com is set to grow its sales by 50% this year to £18m.
The Yorkshire-based company, which employs 100 staff, was founded in 2003 and has continued to grow at a rapid pace since receiving a £3.4m investment by investor Key Capital Partners (KCP) in 2012.
As well as a growth in sales, the company has moved into larger 135,000 sq ft premises on the outskirts of York to further expand its logistics capabilities in the UK market and continental Europe.
Managing director, Andrew Wass, said: “This is an incredibly exciting time for us here at Gear4music.com and the 50% growth we’ve achieved this year feels like it is just the beginning.
“We are already set for more success in 2014 as we expect the international side of our business set to grow very quickly. The updated, efficient design of the website will definitely support our growth and it’s great to see it go live in time for Christmas.
“It just goes to show that even in challenging times, if you have all the right ingredients you can still grow successfully – fantastic staff, appropriate finance and a good vision are all you need.”
KCP is an investor in the small buy-out market making investments of between £2m and £10m in companies with enterprise values of up to £30m. The firm operates nationally from offices in Leeds, Birmingham and London and has invested over £60m since its launch in 2007.
