Quebec-based JAM Industries, a division of DCC Technology, has expanded its portfolio through the acquisition of Connecticut-based The Music People (TMP), parent company of the On-Stage and TMP-Pro divisions.
Founded in 1979 by Jim Hennessey, TMP will operate as a division of JAM, managed by TMP’s co-presidents John and Sharon Hennessey, who now report directly to JAM Industries president and CEO, Martin Szpiro (pictured above).
“Since being acquired by DCC Technology in September 2018, JAM has the resources to operate as an acquisition engine,” Szpiro says. “While the purchase of TMP is our first acquisition since being acquired by DCC, it is by no means the last. We are aggressively pursuing MI and pro audio companies that complement and extend our current portfolio of offerings.
“Over the last 48 years, JAM has grown organically and through acquisition into a $400-million company comprised of eight divisions that serve a broad range of musical instrument, consumer electronics, pro audio, and lighting customers,” Szpiro adds. “With the support of DCC we can now grow faster than ever before.”
Consumers know TMP as the parent company of On-Stage, a brand of musical instrument accessories that include stands, drumsticks, cases, and bags. MI retailers, production houses, and AV contractors know TMP as the parent company of TMP-Pro, a supplier of pro audio equipment for more than 25 years, which currently distributes over 250 brands.
“The Musical Instrument and pro audio industry landscape has evolved a great deal over the last 40 years,” says TMP co-president, Sharon Hennessey. “What began as a small cottage industry of enthusiasts has become a much bigger industry that serves a broader range of customers across many vertical markets. John and I realize that we need to align our company with a partner that can help us meet our long-term growth objectives while exceeding the expectations of our customers. JAM is that partner.”
For more information, go to www.jamindustries.com.