US-based RIA MAI Capital Management has expanded its national footprint with the acquisition of investment management firm J.M. Hartwell for an undisclosed sum.

Headquartered in New York, J.M. Hartwell serves individuals, trusts, foundations, endowments as well as pension plans. The company focuses on growth stocks.

The deal adds more than $640m in assets to MAI’s books and enables the firm to enter New York City.

MAI will absorb Hartwell’s leadership team as part of the deal. The team includes William Miller and Jordan Press who will now serve as managing director and regional managing director, respectively.

The team also includes William Jones who will now become director, research analyst.

Commenting on the acquisition, MAI managing partner Rick Buoncore said: “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.

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“The Hartwell team embraces MAI’s vision, and their deep-seated investment management expertise will directly benefit MAI clients across the country.”

MAI, based in Ohio, offers investment management services to HNWIs and athletes.

The business made several takeovers last year. The acquired firms include Rodman Capital Management, MTX Wealth ManagementJohn D. Dovich & Associates , and the wealth management unit of CCI Financial Group.