June 05, 2026 I Finance
Muse Group Enters Next Chapter of Growth
Muse Group has announced the next chapter in its growth journey, following the successful conclusion of Francisco Partners’ investment in the company.
Francisco Partners initially invested in Muse Group in 2023. During the partnership, Muse Group expanded its global footprint, strengthened its technology capabilities, completed the transformational acquisition of Hal Leonard, and delivered consistent performance across its brand portfolio.
The concluding transaction between Francisco Partners and Muse Group was supported by senior credit facilities arranged by J.P. Morgan and cash on hand. Muse Group remains majority owned and controlled by founder and CEO Eugeny Naidenov, partnering closely with Mo Chahdi as executive chairman and COO, alongside an experienced management team with expertise in technology, product development, growth, AI, global operations, finance and organizational scaling.
“I founded Ultimate Guitar in 1998, driven by a passion to improve the lives of musicians every day. Francisco Partners helped us expand that vision to more markets, more products, and more creators around the globe,” Naidenov said. “Muse Group is now ready for its next phase. We have the products, the team, the community, and the ambition to keep building technology that helps musicians do even more with their creativity.”
Moving forward, Muse Group will continue to partner with and acquire products that support its mission. The company will look for businesses with loyal communities, strong product foundations, high-intent users and the potential to become more valuable as part of the Muse Group ecosystem.
Muse Group remains committed to investing in product innovation and AI-enabled creative workflows. The company’s ambition is to build the definitive technology platform for music learners and creators, helping them move more naturally from learning to producing, recording, publishing, sharing, licensing, and monetizing their work.
“This is an important milestone for Muse Group and a strong reflection of what the team has built,” Chahd said. “We are grateful for Francisco Partners’ partnership and the support they provided across this journey – helping to execute and fully integrate the acquisition of Hal Leonard and acting as a valuable strategic partner in the strengthening of our global footprint, product offering, and technology. Our next chapter is focused on execution, product innovation, and making the Muse ecosystem more connected and valuable for creators.”
“It has been a privilege to work with Eugeny, Mo, and the Muse Group team over the course of our partnership,” said Lee Rubenstein, managing director at Francisco Partners. “Since our initial investment, the company has delivered impressive growth, completed its transformational acquisition of Hal Leonard, and built a leading global music technology platform. We are proud of the company’s accomplishments and are confident Muse Group is well positioned for its next chapter of growth.”
Over several years, Muse Group has grown from a collection of popular music products into a broader ecosystem serving musicians, learners, educators, creators, publishers, and audio professionals around the world. Muse Group’s industry-leading brands include Ultimate Guitar, MuseScore, Hal Leonard, Audacity, Audio.com, and MuseHub, reaching millions through digital content, publishing, education, recording, audio workflows, and software tools.
