Music & Arts Center

Music & Arts Center

Music & Arts Center was founded in 1952, and is the largest school music dealer in the United States, selling band and orchestra instruments, guitars, keyboards, drum sets, printed sheet music, and related supplies.

The first Music & Arts Center was opened in Bethesda, Maryland by founder Benjamin O'Brien. The store, which provided mostly music and art supplies along with dance lessons, expanded throughout the Maryland, Virginia area. In 1998, the headquarters relocated from Bethesda/Rockville to Frederick, Maryland. Currently, Music and Arts Center has over 100 locations, including those from the acquisition of American Music Group, throughout Maryland, Virginia, Philadelphia, Nashville, Denver and the Carolinas. Most recently, Music & Arts have expanded into New England and west of the Mississippi in Texas and Colorado.

Music & Arts Center recently increased the price of their rental fees(2007) to account for higher transportation costs and overhead expenses.The company has recently(2008-ongoing) been named in several lawsuits reguarding employment practices and possible ethics violations pertaining to dealings with public entities.

Acquisition by Guitar Center

Music & Arts Center was acquired by Guitar Center, Inc. in April 2005 to expand its offerings to the beginning and student musician.

Bain Capital Acquisition

On June 27, 2007, Guitar Center agreed to $1.9 billion buyout from Bain Capital, totaling $2.1 billion including debt. The deal was led by Goldman Sachs and amounted to a per-share price of $63.50, or a 26% premium on June 26's closing price.

External Sources

[http://www.Taylormusic.com] Music & Arts Website


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