JAM Industries, Ltd., recently announced the asset purchase of the wholesale distribution business, KMC Music, B&J Music and selected trademarks from Fender Musical Instruments Corp. (FMIC). The transaction provides JAM Industries an expanded product line and accessory-driven expertise to better serve its dealer network throughout the United States and Canada. The JAM Industries U.S. MI group now includes KMC Music, B&J Music, U.S. Music Corp. and Davitt & Hanser.
“We are very excited about this acquisition,” said Martin Szpiro, President and CEO of JAM Industries, Ltd. “It adds greatly to the JAM family of companies in North America.” He continued, “KMC Music has a tremendous legacy and unique distribution abilities that will allow us to provide our current and expanded North American dealer base with the widest and best product offering anywhere.”
“We are extremely pleased to have found a company with ideal synergies for the KMC Music wholesale business in JAM Industries, Ltd.,” said FMIC’s interim CEO and board member Scott Gilbertson. “They possess great vision for the future of their business, and we believe this transaction will mutually benefit each of our strategic objectives.”
The organization simultaneously announced the appointment of Mark Terry as CEO of this newly created group. He has more than 37 years’ music industry experience, including serving as President of KMC, President of The AVC Group, President of Harman Pro Group, President of JBL Professional and Vice President of Sales for New England Digital Corp. Terry has extensive experience and contacts in the industry and a track record of success, and he’ll have full responsibility for all the JAM U.S. MI companies.