Entertainment Magpie (musicMagpie.co.uk), a Macclesfield, UK-based purchaser and multi-channel retailer of replay CDs, DVDs and Games, has received a “significant” development capital investment from private equity firm LDC.
The transaction will support the company in advancing its online purchasing and sales capabilities overseas, further leveraging its partnerships with global industry players and launching a series of consumer marketing campaigns in key central European countries. musicMagpie.co.uk also plans to further invest in its IT systems.
Established in 2007 by CEO Steve Oliver and COO Walter Gleeson, musicMagpie.co.uk currently employs over 500 people and serves customers in over 80 countries worldwide. The company has also appointed Allan Leighton as Non-Executive Chairman and added Jonathan Bell, Investment Director at LDC, to the board.
musicMagpie.co.uk purchases CDs, DVDs and Games direct from consumers and then sells through a range of online, retail and wholesale channels with a large proportion being traded internationally. The site is free.
FinSMEs
15/04/2011