MAI Capital Management LLC has acquired J.M. Hartwell LP in a deal that is expected to expand MAI’s reach to New York City and enhance its investment management expertise.

Hartwell specializes in growth stock investing and employs a disciplined, fundamental, bottom-up approach to investment management. With a nearly 60-year history, the firm manages investment portfolios for a range of clients, including individuals, trusts, foundations, endowments and pension plans.

“Expanding MAI’s presence to the New York City area has been a longstanding goal and accomplishing this required aligning with the right partner who shares our core investment and client-first philosophy,” said Rick Buoncore, Managing Partner at MAI, in a statement. “The Hartwell team embraces MAI’s vision, and their deep-seated investment management expertise will directly benefit MAI clients across the country.”

Hartwell’s leadership team will join the senior partnership of MAI. William Miller will assume the role of managing director, Jordan Press will assume the role of regional managing director and William Jones will assume the role of director, research analyst. The remaining members of Hartwell’s investment team will join MAI as well.

The acquisition closed on Dec. 31 and will increase MAI’s assets under management by over $640 million. Financial and legal terms of the deal were not disclosed.