Shares of York-based online musical equipment retailer Gear4music plc rose more than 20% after it published details on an “asset purchase from competitor in administration” and also a trading update.

The York firm said it has purchased “stock with a cost value of £1.8 million, together with certain intangible assets including websites, trademarks, and commercial data, for a total consideration of £0.6 million.”

It said these assets are being purchased from the Administrators of GAK.co.uk Ltd and The Guitar, Amp & Keyboard Centre Ltd.

“For clarity, Gear4music is not acquiring any part of GAK’s trading business, nor any other assets or liabilities, and has no current plans to use the GAK trading name,” said Gear4music.

The group also reported “that the marked improvement in UK and European like-for-like sales in the latter half of March has been sustained over the first two weeks of April, with a return to double-digit sales growth over the last 30 days providing the board with further confidence in the outlook for the year ending 31 March 2026.”

Gear4music believes that current consensus market expectations for the year ending March 31, 2026, are revenues of £153.8 million, EBITDA of £10.9 million and profit before tax of £2.65 million.