The North American Guitar announces investment from Magenta Partners
The new investment follows several recent strides that TNAG has made in its business.
UK guitar dealer The North American Guitar (TNAG) has announced an investment from growth investors Magenta Partners.
While no exact dollar amount was made public, Magenta’s fund “targets equity investments of £5 million to £20 million”.
TNAG specialises in high-end and boutique guitars, many arriving from a panel of world-class luthiers. The UK company’s most recent developments include the opening of a global showroom in Nashville, Tennessee and the launch of The Exchange, an online platform where pre-owned instruments can be traded.
Ben Montague, CEO of TNAG, said in a statement: “We are incredibly excited that Magenta is providing us with the additional firepower we need to support our growth journey. We began in 2010 as a little company with big ideas, wanting to create the ultimate customer experience when buying, playing, loving or selling your high-end guitar.
“It was clear from the get-go that Magenta were the perfect fit for our growth plans, sharing our passion for generating world-class content merged with show-stopping technology.”
Tom Matthews, partner at Magenta, added: “TNAG has an excellent heritage in the world of premium guitars and has successfully transitioned towards a digital-led strategy opening up a fragmented global market opportunity to service the entire lifecycle of high-end guitars.
“We are very excited to be partnering up with such a passionate and knowledgeable management team to help fulfil their mission statement of being the go-to brand for premium guitar collectors and enthusiasts.”
Learn more at thenorthamericanguitar.com
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