SoundBay Hunts For Investment & Growth Partner
The country’s largest DJ & Music production equipment retailer, SoundBay, is reportedly seeking a strategic investor to pursue growth – first round bids are tipped to be due this Friday.
According to AFR sources, an information memorandum for SoundBay hit the market in April, highlighting 25% revenue growth every year over the last five years.
The company owns retails stores such as Mannys Music and Store DJ, and expects to top $70 million this year.
A representing firm has reportedly been approaching Aussie mid-market private equity entities with retail experience, plus others.
Reports suggest SoundBay’s owners are willing to sell either a majority or minority stake in the company.
The parent company operates five physical stores across nationally, an e-commerce outfit, and was founded in 2003.
Founder, Jeremy Leitch, is currently the sole owner, however, speculation is the investment will help bring on board new insight to growth the organisation further.