Garrison Buys into Northern Expansion

Garrison Asset Management will be extending its business into the Northeast. The Fayetteville-based investment firm recently purchased Colonial Investments of Bennington, Vt.

The principal and former owner of Colonial, Shawn Leonard, raised nearly $300 million in assets at his former firm, and will stay on to lead marketing efforts and build a team for Garrison in the region.

Garrison, which has about $170.5 million in assets under management, plans on opening a satellite office in Massachusetts this summer.