PartnerFonds has made further investment in German retailer and distributor Musik Produktiv, taking a majority 60 per cent stake in the company.
Following the deal, the two companies are aiming to increase awareness of the brand Musik Produktiv and grow online sales. The current management team will remain in place and the new growth capital is intended to further expand the Musik Produktiv warehouse and to enable investment in its IT infrastructure.
“We are delighted with the decision of PartnerFonds AG to join us as the majority shareholder on our future growth path. The company’s performance in the past financial year and the current demand for our product range is very pleasing, and our scalable e-commerce sales are now around 68 per cent of total sales, and this is where the potential for future revenue increases lies, where our megastore and our employees experience customer satisfaction on a daily basis.The appreciation for professional advice and the opportunities for experiencing rehearsals with high quality musical instruments comes through the loyalty of our customers and Suppliers, ” said Günter Zierenberg, managing director of Musik Produktiv.
Oliver Kolbe, board member of PartnerFonds added: “In the past financial year 2016/17, revenue increased from € 16.9 million to € 20.9 million compared to the same period of the previous year The company’s growth was realised at a profit, and we, like the management of Musik Produktiv, are optimistic about the current financial year and are therefore very pleased to be able to actively participate in the successful growth path as a majority shareholder. “
Following the deal, the company said it is now aiming to achieve sales of approximately €30 million in two years.
