Key takeaways
Muse Group didn’t start with a grand plan to build a global portfolio of music technology brands. It started with a new guitarist who wanted to make learning to play easier.
When founder and CEO Eugeny Naidenov picked up a guitar, he began writing tabs for himself, then shared them online. As more players discovered the tabs, the idea expanded into Ultimate Guitar, one of the world’s earliest guitar-tab sharing sites, founded in 1998.
That same desire to make music more accessible by removing friction has guided Muse Group for decades, shaping what is now a broad digital ecosystem for people who play, learn, create and publish music.
Muse Group focuses on community, tech and content, a structure that has helped it scale without losing its user-first orientation. Its global portfolio spans learning, publishing, notation, recording and audio workflows with brands including:
Together, these products and platforms serve over 500 million annual users and support Muse Group’s accessibility-focused mission: helping people play, learn and create music, and share it more easily.
Muse Group recently announced the next phase of its growth journey following the successful conclusion of Francisco Partners’ investment in the company.
Francisco Partners supported execution across the journey, helping to fully integrate the acquisition of Hal Leonard and strengthening Muse Group’s global footprint, product offerings and technology.
J.P. Morgan supported the transaction with senior credit facilities. Muse Group remains majority owned and controlled by Naidenov, working closely with Mo Chahdi, Executive Chairman and COO of Muse Group, and an experienced management team spanning technology, product development, growth, AI, global operations, finance and organizational scaling.
“We value J.P. Morgan’s thought leadership, industry insights and connections—along with their ability to get into the trenches, deliver and execute when needed.”
Mo Chahdi
Executive Chairman and COO of Muse Group
But Muse Group’s relationship with J.P. Morgan goes beyond a single transaction. The Mid-Cap Investment Banking team worked with the music company by:
In addition to financing and execution, "The team consistently brings ideas and solutions for us to think through—some of which have nothing to do with financial solutions or capital markets,” Chahdi said. “That’s a big part of the credibility J.P. Morgan has built with us over the years, and it enables them to serve us better."
At a strategic level, the firm provided advisory support across investment banking and relationship management, including reviewing board materials and discussing business-focused ideas.
Muse Group has also discussed capital structure options with J.P. Morgan.
"J.P. Morgan has provided both ideas and executable solutions we can pursue. We have a strong investment banking relationship, and the team spends time understanding our business while also bringing us strategic options we wouldn’t necessarily have access to without them,” Chahdi said. “They also pull in expertise across the firm—capital solutions, private markets and debt.— They’re a solutions provider that can execute on transactions when we need them."
Prior to the transaction, Muse Group met with bankers regularly for 18 months. "We’ve spent a lot of time together focusing on our business, what we’re trying to solve, how those problems are evolving and where we’re succeeding or not succeeding," Chahdi said.
"We don’t see J.P. Morgan as ‘just’ a financial institution,” Chahdi said. “As we evaluate future options and consider different paths, we value their thought leadership, industry insights and connections—along with their ability to get into the trenches, deliver and execute when needed.”
J.P. Morgan Mid-Cap Investment Banking combines industry expertise with a suite of investment banking solutions to help companies achieve their growth and investment goals. Whether you’re developing a transformation plan or preparing for a landmark transaction, our team can help you get there.