Richard Schram, who founded audio equipment brand Parasound in 1981, has announced his retirement and the sale of his company to David Sheriff, an entrepreneur active in product growth and supply-chain management.
Parasound manufactures audiophile-grade amplifiers and other components that are sold through a network of authorized high-end dealers and custom home system installers in the U.S. and over 60 other countries. Sheriff will take over operations immediately and says he has ambitious plans to grow the brand.
“When I look at all we have accomplished at Parasound over four decades, I am proud that we have stayed true to our mission statement, ‘Integrity Endures,’ and our day-to-day goal of providing affordable high-fidelity sound to the critical listener,” says Schram. “I am grateful for the dedication of current and former staff, plus the magic touch of our legendary circuit designer, John Curl, which made all this possible. Through their efforts, we have earned an enviable reputation with audio enthusiasts and the audio press corps, with many awards and consistent high placement in recommended product lists.
“Less outwardly visible,” he continues, “is our continuing commitment to superb pre- and post-sale support for dealers and customers alike as well as our excellent customer service and competent in-house product repair. More common are users who’ve been using the same Parasound amp for 10 or 20 years without a glitch. I’m also proud that our products have been chosen by notable recording engineers as reference components in the production of some legendary movies and music recordings.”
Schram adds that he is excited Sheriff’s vision for the company sticks with the same ission statement and calls him a “quick study. I am impressed with his plans to strengthen our business model and to take it beyond its current boundaries.”
Schram adds that the “thought of relegating Parasound as a mere trophy logo under one of the audio conglomerates was never an option for me.”
Sheriff comes to Parasound from a 30-year career running manufacturing and distribution companies and as a systems consultant. Since 2000, he has guided over 500 U.S. manufacturers to improve their businesses by streamlining processes, reducing risk in the supply chain, and reducing time to market. Sheriff is a graduate of the U.S. Air Force Academy and served as an A-10 pilot in the U.S. and South Korea. Prescient to his future career, he was also group mobility officer, tasked with ensuring smooth integration among AF transport, supply, and support functions.
“Parasound’s legacy of rock-solid build quality, classic design, exquisite sonic performance, and great bang-for-the-buck made this an opportunity that was too good to pass up,” comments Sheriff. “Their achievements align with my supply-chain and sales-channel experience as we expand production capabilities and grow into new markets. This company and its extremely competent and customer-focused staff are ripe for tremendous growth.
“Going forward,” he continues, “I look to continue the company’s outstanding legacy in design, product quality, and customer service. Parasound already dominates on price and quality, so we’ll be focusing on delivery capabilities not just in the U.S., but worldwide. We will invest in our partner network and social media platforms to make sure fans (and future fans) can get the information they need to understand Parasound is the right fit for them.
Sheriff says he is not buying a “broken company,” but rather, it’s the exact opposite. But is is excited for new opportunities for “new products, new processes, and opportunities to improve productivity without sacrificing quality management or driving away good people.
“Today’s Parasound provides an excellent foundation for natural growth,” Sheriff concludes. “We are not going to reinvent the wheel on day one. Staff, dealers, vendors, and distributors should look for things to proceed normally as I find my footing.”
Sheriff assumed ownership on December 8, 2022.