Irish company DCC Technology, the IT arm of DCC plc, has acquired Canadian pro audio and consumer electronics specialist Jam Industries for an undisclosed amount.
Tim Griffin, DCC Technology managing director, said: “our acquisition of 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. Importantly, the very strong service capability of Jam represents a significant step in DCC Technology's continued execution of its plans to provide specialist value added services to all its vendors, resellers and retailers - bringing extensive brand reach and market access whilst simplifying the complex supply chain in our sectors. Following the acquisition of Stampede in July 2018, our investment in Jam adds an exciting new brand to our portfolio and means that we now have a €500m+ revenue business in North America with a strong, service-led specialist focus on pro audio and visual technologies, musical instruments and consumer electronics.”
Jam Industries is headquartered in Montreal, Canada with sales and logistics operations across the US and Canada, employing around 600 people. As the leading distributor and supply chain service provider in its sector, it also offers a comprehensive range of value-added services to its vendor partners and customers.
Jam CEO Martin Szpiro believes that the agreement represents the start of the next phase of development for Jam Industries: “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.”
Jam’s experienced and highly respected management team including Martin Szpiro, CEO, who remains a shareholder, and Stuart Frenkel, CFO, will continue to manage the business post acquisition and are committed to leading the business through the next phase of its development. In addition, Jam founder Martin Golden and his son Matthew Golden will also remain involved with the business adding to the continuity.