Tulsa, OK-based Selco, LLC (asi/86230), a watch supplier to the promotional products industry, announces that it has finalized the acquisition of certain assets of Belair Time Corp., a leading private label watch supplier for independent jewelry stores. Financial terms of the deal were not released.

Since June 1, Selco has been running Belair operations after the latter closed its New Jersey location in March due to COVID-19 shutdown orders from the governor. Alan Grunwald, former president and owner of Belair, gradually transitioned ownership of Belair to Mark Abels, owner of Selco, which was finalized on Sept. 18. The acquisition allows Selco to expand further into the retail jewelry industry.

“Selco was the perfect company to buy my family business,” said Grunwald in a statement. “Their processes are similar to Belair’s and they add customization capabilities that Belair didn’t have in-house. They were able to take orders and start shipping quickly after receiving inventory.”

Grunwald added that Selco has been a Belair client for more than 50 years and he’s known Abels for more than 25. “Because of our long history, I know Selco is the right company to continue my family legacy,” he said.

According to Selco, product quality and pricing will remain the same, and they’ll welcome Belair sales reps to the Selco team. They’ll also add engraving, as well as heat stamping and full-color digital on packaging to its services.

“We’re excited to have this opportunity to buy Belair,” said Abels in a statement. “It’s a great fit for our workforce and it brings us into a new industry. We’ll be able to maximize our existing production capabilities with a large, new customer base. I’m excited to learn the retail jewelry industry from Alan.”