MAI Capital Management LLC on Dec. 31, 2019, closed its acquisition of J.M. Hartwell LP.
The acquisition will increase MAI Capital Management's assets under management by more than $640 million and expand the Cleveland-based company's reach to New York City. Financial and legal terms of the transaction were not disclosed.
J.M. Hartwell's leadership team will join the senior partnership of MAI Capital Management, with William Miller joining as managing director, Jordan Press as regional managing director and William Jones as director and research analyst. The other members of J.M. Hartwell's investment team will also join MAI Capital Management.