Selco LLC, Tulsa, Okla., has acquired certain assets of Belair Time Corporation. Selco has been operating Belair since June, and the merger is dated back to June 1. Belair had closed its New Jersey facility in March in response to a state mandate due to COVID-19. In May, Selco and Belair put together an agreement that allowed Selco to operate Belair so shipments could resume.
Once the transition was complete, Alan Grunwald, former president and owner of Belair, worked with Mark Abels, owner of Selco, to transition ownership to Selco. The sale was completed on Sept. 18, 2020.
“Selco was the perfect company to buy my family business,” Grunwald said. “Their processes are similar to Belair’s, and they add some customization capabilities that Belair did not have in-house. They were able to take orders and start shipping quickly after receiving inventory. Selco has been a customer of Belair’s for over 50 years, and I have known Mark Abels since he entered the industry over 25 years ago. Because of our long history, I know Selco is the right company to continue my family legacy.”
“We are excited to have this opportunity to buy Belair,” Abels said. “It is a great fit for our workforce, and it brings us into a new industry. We will be able to maximize our existing production capabilities with a large, new customer base. I am excited to learn the retail jewelry industry from Alan.”
Selco began shipping Belair orders in late June. There are no planned changes to product quality or pricing structures for Belair’s customers. Selco plans to maintain Belair sales representatives as well. Selco will add new processes such as engraving, heat stamping on packaging and full-color digital printing.
For more information on Selco, visit www.selcotime.com.
