DCC Technology, trading as Exertis, has announced the acquisition of The Music People through its musical instruments, audio and lighting company, JAM Industries
Tim Griffin, DCC Technology & Exertis Group MD, said: “We are delighted to welcome The Music People into our portfolio of companies. Now more than ever, music has proven to be an uplifting and enriching element of daily life. JAM’s company ethos and impressive organic growth provide a great basis for more acquisitions such as this, and we look forward to continuing this successful journey.”
The Music People (TMP) is the American 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. TMP specialise in Pro Audio equipment and premium instrument accessories that include stands, cases and bags.
“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,” said Martin Szpiro, JAM Industries president & CEO. “With the support of DCC we can now grow faster than ever before.”
Co-president Sharon Hennessey explained: “The Musical Instrument and Pro Audio industry landscape has evolved a great deal over the last 40 years. 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”.
Co-president John Hennessey added: “JAM shares the same customer-first core values and provides 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.”