Backed by the commitment and resources of parent company DCC Technology, JAM Industries is accelerating its growth through acquisition initiatives with the purchase of Berlin, 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 & CEO Martin Szpiro.
“Since being acquired by DCC Technology in September 2018, JAM has the resources to operate as an acquisition engine,” Szpiro emphasized today. “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 compliment 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,” he continued. “With the support of DCC we can now grow faster than ever before.”
Consumers know TMP as the parent company of On-Stage, a premium 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 leading supplier of Pro Audio equipment for over 25 years that today distributes over 250 brands that can be combined and bundled to create application-specific solutions.
“The Musical Instrument and Pro Audio industry landscape has evolved a great deal over the last 40 years,” TMP Co-President Sharon Hennessey said today. “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.”
Co-President John Hennessey explained that, “Joining the JAM family really does bring us full circle. Our father Jim began his career at what became KMC Music, another division of JAM, and he’s thrilled to see us return. JAM shares the same customer-first core values that are the foundation of our success. JAM provides us and our employees with the long-term commitment and resources we need to meet the needs of all of our customers for many years to come.”