MONTREAL, March 8, 2018 /CNW/ - JAM Industries is pleased to announce its been awarded with the prestigious Canada's Best Managed Companies designation for 2018. Award winners are recognized for overall business performance and sustained growth and are amongst the best-in-class of Canadian owned and managed companies with revenues exceeding $15 million.
Now in its 25th year, Canada's Best Managed Companies is one of the country's leading business awards programs recognizing Canadian-owned and managed companies for innovative, world-class business practices. Hundreds of entrepreneurial companies compete for this designation annually in a rigorous and independent process that evaluates the caliber of their management abilities and practices.
Founded in 1972, JAM Industries – based in Montreal, QC - is a unique distribution network made up of 16 divisions that serve markets ranging from musical instruments, to pro audio & lighting, commercial audio and consumer electronics. With 250,000 sq. ft. of warehouse space in Canada, and an additional 350,000 sq. ft. in the US, JAM Industries is a distribution power-house. Full-service capabilities include marketing & sales support, in-house technicians, after-sale service & repairs, in-house graphic and printing departments, and more.
"JAM Industries has achieved incredible success over the last 45 years, becoming the largest independent musical instruments, pro audio & lighting, and consumer electronics distributor in the world," says Martin Szpiro, President & CEO. "Our unique business model has allowed us to maintain that entrepreneurial spirit and flexibility needed to react quickly to changes in market demand," Szpiro adds.
Applicants are evaluated by an independent judging panel comprised of representatives from program sponsors in addition to special guest judges. 2018 Best Managed companies share commonalities that include a clear strategy and vision, investment in capability and commitment to talent.
"CIBC is pleased to congratulate JAM Industries on being named one of Canada's Best Managed Companies, recognizing its excellence in leadership, business performance and innovation," said Dino Medves, Senior Vice President and Head, CIBC Commercial Banking. "As a sponsor of the Canada's Best Managed Companies program for over 20 years, CIBC is proud to celebrate private companies like JAM Industries as leaders in their industry."
"We are honored to be one of the 2018 winners," Szpiro says. "This is a reflection of the hard work and determination of our staff and we look forward to continued growth and success."
2018 winners of the Canada's Best Managed Companies award will be honoured at the annual Canada's Best Managed Companies gala in Toronto on April 11, 2018. On the same date, the Best Managed symposium will address leading-edge business issues that are key to the success of today's business leaders.
The Best Managed program is sponsored by Deloitte, CIBC, Canadian Business, Smith School of Business, TMX Group and MacKay CEO Forums.
About Canada's Best Managed Companies
Canada's Best Managed Companies continues to be the mark of excellence for Canadian-owned and managed companies with revenues over $15 million. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels: 1) Canada's Best Managed Companies new winner (one of the new winners selected each year); 2) Canada's Best Managed Companies winner (award recipients that have re-applied and successfully retained their Best Managed designation for two additional years, subject to annual operational and financial review); 3) Gold Standard winner (after three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully retained their award for 4-6 consecutive years); 4) Platinum Club member (winners that have maintained their Best Managed status for seven years or more). Program sponsors are Deloitte, CIBC, Canadian Business, Smith School of Business, TMX Group and MacKay CEO Forums. For further information, visit www.bestmanagedcompanies.ca.
About JAM Industries
Founded in 1972, Jam Industries began operating in Montreal under the trade name of Erikson Music as an importer/distributor of musical instruments and accessories, with less than 10 employees and sales of less than $1 million. With over forty-five years of experience, today Jam Industries is a unique distribution network made up of 16 divisions that serve markets ranging from musical instruments, professional audio and lighting, commercial audio and consumer electronics, with over 650 employees spread out over several countries and sales exceeding $400 million. JAM's success is largely driven by innovation, diversification, customer service and an exemplary corporate culture.