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Blackstar enters 'new phase in its development' after secondary management buyout

Laura  Barnes
Blackstar enters 'new phase in its development' after secondary management buyout

Founded in 2004 by four bandmates, Blackstar Amplification launched its first guitar amps and pedals in March 2007.

Blackstar today is an award winning global brand with revenues in excess of  £10m. It has over 45 products sold in 52 countries worldwide, with gear used by artists including Gus G (Ozzy Osbourne/Firewind), Neal Schon (Journey), Silenoz (Dimmu Borgir) and James Dean Bradfield (Manic Street Preachers).

Foresight originally invested £3.5m in 2012 to provide growth capital and to partially restructure the shareholder base.

Now, a secondary management buyout, backed by Shawbrook Bank, will “allow the company to regain its independence”, giving the founding management team (now owning a majority share in the business) the opportunity to “take the business into a new phase in its development”.
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Audit, tax and consulting firm RSM advised the management of the Northampton-based manufacturer on its successful buyout from Foresight Group, the independent infrastructure, private equity and investment manager.

Stephen Orriss, who led the advisory team from RSM, commented: “Blackstar is a world renowned brand and this transaction enables the business to continue to grow as it enters the next chapter of its development. We were delighted to support the management team in this transaction and we wish them every success in the future.”

Gary Smith, corporate partner at Freeths, Milton Keynes handled the legal aspects. “Having acted for Blackstar for over 8 years it was a real pleasure to see the management team bring this deal together to deliver what is a truly transformative deal for the future of Blackstar, its management team and employees and its customers,” said Smith.

“The transaction was also a perfect example of the great teams at RSM and Freeths working together to deliver the result desired by the Blackstar management team.”

Ian Robinson, co-founder and managing director of Blackstar, added: “This marks an exciting new chapter in Blackstar’s history, which will allow us to retain our independence and gives us the opportunity to take our business to the next level. We are looking forward to forging a strong relationship with Shawbrook, who have shown a real interest in our business and future growth strategy, and many years of working with our distributors, dealers and, most of all, our customers to continue to deliver “The Sound In Your Head”.”

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Tags: buyout , blackstar amplification

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