WK Corporate Finance ("WKCF") has advised YFM Equity Partners (“YFM”) on its investment to fund the Management Buyout of Professional Music Technology ("PMT").
Founded 28 years ago by Simon Gilson and Terry Hope, PMT is the UK’s leading multi-channel retailer of Musical Instrument (MI) and Professional Audio products. PMT employs more than 200 staff across its business and generates revenue in excess of £40 million per annum.
The Buyout has been led by David Black who becomes Managing Director of the business. David first joined PMT some 18 years ago and has had day-to-day leadership responsibility for the business over the last four years, having opened six new stores in that time.
Over the coming years, the management team plan to take advantage of the continued strong demand for musical instruments and pro-audio products from hobbyists and professional musicians alike. The business will focus both on the selective opening of new destination stores and the further development of its multi-channel proposition.
Jamie Roberts, (Partner, YFM) commented: "We partnered with the WKCF Transaction Services team due to their experience in the Consumer space. PMT represents numerous physical stores, often destination type locations and a growing e-commerce platform therefore their expertise in dealing with these types of businesses was important to us. Once again they targeted the key risk areas of the business in a pragmatic way and worked collaboratively".