Bain Capital sealed a deal today to buy out Guitar Center, a California-based retail chain specializing in musical instruments, for $1.9 billion. The deal was reached after a secret auction conducted by Goldman Sachs; the private equity firm has recently purchased a slew of publicly traded retailers. The final price of $63 a share represented a 26% premium on Guitar Center's price.
Guitar Center has more than 200 stores, and is the leading retailer of musical instruments in the US. Meanwhile, Bain's retail shopping spree is going international: Reuters reports that the Boston firm picked up Germany's largest yacht maker today as well.