Scout Investment Advisors has agreed to fully acquire Columbus-based investment management firm Reams Asset Management.

Financial terms of the deal were not disclosed, but Reams manages over $9.8 billion in fixed-income assets. Upon completion, Reams will operate as a unit of Scout Investment and will remain headquartered in Columbus. The leadership team will also remain unchanged. Scout Investment Advisors is a subsidiary of UMB Financial Corporation.

"Fixed-income represents a key strategic growth area in the institutional asset management business," Peter deSilva, UMB president and chief operating officer, said in a statement.

The addition of Reams Asset Management and their expertise in the fixed-income sector complements Scout's existing product offerings and allows us to offer clients a diversified array of top-tier investment options.

UMB was advised by Berkshire Capital on the transaction.