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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