TNAG, a portfolio company of scale-up growth investor Magenta Partners, has successfully acquired CVG, one of the world’s leading vintage guitar specialists.
Established in 2012 by Walter and Christie Carter, CVG has achieved strong growth since its inception to become an iconic and market-leading vintage guitar dealer. CVG operates as a hybrid retailer with a globally recognised website and an expansive physical showroom situated in Nashville, TN (aka Music City, USA, an epicentre for all things guitar).
CVG represents TNAG’s second successful acquisition (having also acquired Cotten Music Centre in 2019) and serves to further accelerate TNAG’s digitally led expansion plans in the highly fragmented premium guitar market. This inorganic growth will compound on impressive organic growth to help further establish TNAG as the home of the world’s finest guitars and the business will continue to seek out future acquisition opportunities to accelerate access to collectors that are currently stuck in an underserved and antiquated guitar market.
TNAG’s explosive growth has been driven by its creation of the world’s first global ‘Exchange’ for premium guitars. This gives consumers a unique white glove service to buy and sell pre-owned high-end instruments and will shortly enable users to connect and transact on a C2C basis. Owners will be able to digitise their collections, meet and share knowledge with other enthusiasts, and trade some of the world’s finest guitars on a worldwide basis.
Ben Montague, CEO at TNAG commented: “Partnering with CVG truly is an honour, but it’s also a strategic decision as we are not only bringing together two of the most respected guitar brands but two that are inherently complementary. TNAG has worked over the last 10 years to develop the premium guitar market and to reshape how collectors and players source, play, and eventually, sell high-end instruments. Carter Vintage Guitars has the same philosophy in the vintage world and so this partnership really is about bringing together two trusted brands that will work together to build the future of our wonderful premium guitar market.”
Max Hallam, Investment Director for Magenta Partners, commented: “The Carters have curated a wonderful brand that is notorious around the world for sourcing and representing some of the finest and rarest premium vintage guitars. We are extremely pleased that TNAG has acquired CVG and will continue to work with its founders to further propel TNAG’s position as the go-to place for collectors and enthusiasts to enjoy a digitally led service for buying, playing, loving, selling the very best fretted instruments on the planet.”
TNAG were advised on the transaction by Andrea Perry at Spencer Fane Bone McAllester.
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