Summit, NJ-based R Seelaus & Company, an employee-owned investment firm, has acquired Granite Springs Asset Management. Financial terms of the deal were not disclosed.

Granite Springs is an SEC-registered private investment management firm that works with individual clients, family offices, pension plans and other institutions. 

As a wholly-owned subsidiary of R Seelaus & Co, Granite Springs - also based in Summit - will provide wealth management services for private clients, as well as asset management services for family offices, foundations, pension plans and other institutional investors.

“We expect our acquisition of Granite Springs Asset Management to contribute significantly to the overall long-term growth of R Seelaus & Co,” said Bernard Garruppo, managing director of R Seelaus & Co.

R Seelaus & Company was founded by Richard Seelaus in 1984.