AV Distribution acquired by Gear4Music plc
Rickitt Mitchell advises AV Distribution, trading as AV Online, on its acquisition by Gear4music plc for £6.2m.
AV Distibution was founded in 2003 by Carl Pickles. The Bacup based business operates out of a 26,000 sq ft warehouse, specialising in high quality audio-video equipment, cables, furniture, accessories and installation products.
Gear4music is based in York and listed on the AIM stock exchange. It is the UK’s largest retailer of musical instruments and equipment, with showrooms and distribution centres in York, Sweden and Germany. It currently operates 20 websites in 15 languages and nine currencies.
In a separate deal, Gear4Music has purchased the AV.com domain name for £3m.
Neil Mitchell and Charlotte Potts of Rickitt Mitchell advised founder and owner of AV Online, Carl Pickles, on the sale.
Neil Mitchell, partner at Rickitt Mitchell, said:
"The acquisition of AV Online and subsequent acquisition of the AV.com domain gives Gear4Music a real opportunity to further develop its reach in the AV market across key European territories.
"The £400m UK audio video market was traditionally dominated by the high street, and has seen a big shift to online over the years. This transition will help Gear4Music to strengthen its e-commerce capabilities and puts it in a strong position to capitalise on further growth."
