New York, NY (October 1, 2018)—DCC plc has acquired Jam Industries, the massive North American value-added distributor of musical instruments, professional audio and consumer electronics products, in a deal characterized by both as a new partnership
For DCC plc, a £14.3 billion revenue, international sales, marketing, and support services group, the move comes just month after its acquisition of Stampede in July 2018, positioning the company with a $600 million-plus revenue business in North America focused on pro audio and visual technologies, musical instruments and consumer electronics.
Headquartered in Dublin, DCC has four divisions—LPG, Retail & Oil, Healthcare and Technology—and operates in 17 countries, employing approximately 10,000 people. Jam Industries falls under the DCC Technology division.
Jam Industries Ltd, based in Montreal, Canada, is a North American distributor and supply chain service provider in Musical Instruments, Pro Audio/Video and Consumer Audio. With sales offices across the US and Canada, and warehouses/logistics services in Memphis and Montreal, Jam Industries is one of the largest service providers in this space, employing over 600 people. Jam operates in the US as American Music & Sound, KMC, US Music, AVS, Ashly and Davitt & Hanser.
Jam’s management team—including Marty Szpiro, CEO, who remains a shareholder, and Stuart Frenkel, CFO— will continue to manage the business post acquisition. Jam founder Martin Golden and his son Matthew Golden will also remain involved with the business.
Tim Griffin, DCC Technology managing director, noted, “The partnership with Jam represents the next step in DCC Technology’s strategy to extend its geographic footprint and product range, strengthening our relationship with new and existing suppliers while also broadening our base of customers.”
Jam’s Szpiro added, “By partnering with DCC, Jam has gained global reach and huge resource depth which will certainly accelerate growth plans in all of our three core sectors and into new territories. The partnership will allow us to grow scale and capability across all of our services and vertical markets and enable us to continue to invest in our supply chain expertise which is so critical in today’s marketplace. We see benefits for our manufacturer partners through greater reach, efficiency and choices, and for our dealers and resellers through more products and services. We expect to share best practice between DCC and Jam but for our customers and suppliers, the way we do business will remain the same.”