Dearborn Partners said Wednesday that it has completed its acquisition of fellow Chicago-based firm Third River Capital Management.

In addition to giving both firms a stronger client service offering, Dearborn said Sept. 8 that Third River Capital will “expand” its in-house investment capabilities where it will now provide small-cap and value investing strategies as well. The deal closed Sept. 1. 

Jeff Simmons, a managing director at Dearborn Partners who focuses on institutional clients, said in the statement that the boutique investment firm’s addition  “brings great people, proprietary research, and a team-based investment approach to [its] existing investment management team.”

Adding to this, Third River Managing Director Kevin Silverman explained that the acquisition will enhance the institutional and private money manager’s “ability to leverage [its] expertise in value investing while capitalizing on Dearborn's exceptional level of client service."

Currently, 13-year old Dearborn manages roughly $2 billion in assets for its more than 40 institutional and roughly 200 private clients, the press release said.