Granite Springs Asset Management, LLC Acquires Sunnymeath Asset Management, Inc.
Summit, NJ (April 5, 2017) – Granite Springs Asset Management, LLC is pleased to announce its acquisition of Sunnymeath Asset Management, a Red Bank, NJ based Registered Investment Advisor. Sunnymeath was founded in 1996 by James P. O’Mealia, a veteran equity market analyst and portfolio manager with over 35 years of experience who served as Vice Chief Investment Officer of Fox Asset Management before founding his own operation. Through his hard work and the addition of several key employees over the years, Jim grew Sunnymeath to more than $100 million in assets under management.
“Everything about this acquisition is exciting and a value-add for Granite Springs,” said Kenny Klein, Granite Springs Chief Executive Officer. “Jim’s client-centered approach and loyal customer base combined with his depth of equity knowledge will dovetail nicely with Granite’s existing fixed-income expertise and client-first culture.”
The combined firm holds over $300mm in assets under management and offers a diverse set of financial strategies and management that will serve each client well.
“Our partnerships and strategies have historically been managed in a tax-efficient manner with a diverse set of specific goals such as growth, growth and income, and equity income” said Jim O’Mealia. “Like Granite, we also customize the management of separate accounts for individuals and institutions based upon their specific needs. In thinking about Granite Springs as a partner, it was obvious that our goals and products complemented Granite’s existing High Yield Bond, Municipal Bond and Tactical Equity strategies along with its Total Return Fund. I feel strongly that not only have we found the right cultural fit, but the right business partner for me and my team to work closely with in the coming years.”
“Simply put, this is a big deal for both firms and the next iteration of growth in a key area of focus for us” said Annie Seelaus Mitnick, Chief Executive Officer of R. Seelaus and Company, the parent of Granite Springs. “Kenny likes to say that this partnership will truly be a 1+1=3 moment for all involved and I could not agree more. Adding the Sunnymeath team, their track record, and their professionalism will only help Granite Springs further leverage its distinction as a buy-side Women’s Business Enterprise.”
The deal closed April 1, 2017.