31 July 2012
Catapult secures a successful exit from Blackstar Amplification through secondary sale of its stake to Foresight Group
Catapult is delighted to announce the successful exit from another of its investee companies. Catapult made its initial investment in Blackstar Amplification in May 2007 during the company’s pre-revenue phase, recognising the market opportunity and the capability of the management team to deliver on their clearly defined strategy. Since this time Blackstar has grown to become a leading guitar amplifier brand around the world.
Jonathan Earl, who led the transaction for Catapult, comments: “We are delighted that Blackstar has been such a successful growth story and to ultimately deliver an excellent gain on our investment with a 4.3 times cash return. The progression of the company to this transaction reflects the commitment and passion of the management team for the business and in Foresight they have secured an excellent partner to help deliver the next phase of development.”