Play Music Today (PMT) is the UK’s leading multi-channel retailer of musical instruments and professional audio products. Established in 1991, PMT has grown to operate 13 destination stores across the UK, known as ‘Experience Centres’, and a comprehensive online presence through pmtonline.co.uk. The company employs over 200 staff and generates annual revenues exceeding £40 million.
Play Music Today
The UK's leading multi-channel retailer of musical instruments and professional audio products
Website
YFM investment
Undisclosed
Investment date(s)
2019
Deal type
Buyout
Location
Liverpool
"I am very pleased to complete the buyout of PMT. The founders have done a fantastic job of establishing a market leading position and we look forward to building on that. YFM impressed us from the start and quickly understood the plan to continue opening new stores while growing the online presence. In YFM we have an investment partner with a wealth of experience and notable success investing in the hobbyist retail sector."
Key Information
The Business
Why We Invested
In October 2019, YFM Equity Partners supported a £20 million management buyout (MBO) of PMT, facilitating the transition of leadership from founders Simon Gilson and Terry Hope to a new management team led by David Black, who became Managing Director. This investment aimed to capitalise on PMT’s strong market position and the growing demand for musical instruments among both hobbyists and professional musicians.
Growth Potential
Growth Potential
With YFM’s backing, PMT’s strategic growth initiatives include:
- Enhancing Online Presence: Investing in digital marketing and website development to strengthen e-commerce capabilities and reach a broader customer base.
- Expanding Product Range: Introducing own-branded products to offer high-quality, affordable options to customers.
- Developing Store Network: Transforming existing stores into ‘Experience Centres’ and exploring opportunities to open new locations across the UK to increase market share.
Impact and Future Plans
Since the MBO, PMT has been recognised for its resilience and adaptability in the retail sector. In December 2019, the Financial Times highlighted PMT as a ‘resilient retailer,’ noting the company’s ability to attract a loyal customer base and deliver strong sales growth despite challenging market conditions.
Looking ahead, PMT plans to continue enhancing its multi-channel retail experience, expanding its product offerings, and solidifying its position as the UK’s premier destination for musical instruments and professional audio equipment. The company remains committed to inspiring and enabling music enthusiasts to ‘Play Music Today.’