With the New Year already days in, Selma continues to be on the move.

According to business news released Wednesday, Grey Mountain Partners, a private equity firm based in Colorado, recently acquired Global Security Glazing, a Selma-based glass manufacturer. GSG makes institutional security, military and custom architectural glass and glazing products.

Local officials believe the partnership will enhance Selma’s economic development.

Selma-Dallas County Chamber of Commerce executive director Sheryl Smedley said its great that Grey Mountain is investing in Selma.

“It’s a new company coming into the State of Alabama and the community of Selma-Dallas County,” Smedley said. “It’s about return on assets — how can we make the county grow? Most companies want to get involved and help enhance what we have with (the) possibility of expanding the existing economy.”

The partnership, Smedley said, is a “new door” for businesses, with an emphasis on improved quality, business and community life.

“We welcome any prospects,” Smedley said. “Selma and Dallas County are open for business.”

Phyllis Andrews of Global Security Glazing, said she expects positive things from the new partnership. To prepare for the transition, Andrews said, GSG brought in new management.

“I would say it’s a very exciting change in ownership,” Andrews said. “We’ve brought in some great new talent that combined with the talented people already here, makes a great combination to move the company forward strategically in the marketplace.”

Grey Mountain vice president Beth Lesniak said the company looks forward to working with GSG and will continue to invest in it.

“Global Security Glazing is a leader in its niche, serving a wide variety of customers from around the world that operate in several end markets that require highly-energized ballistics-grade and custom architectural glass solutions,” Lesniak said. “We are very excited about this investment and the opportunity to rapidly grow GSG … while also enhancing the company’s asset base.”

Selma-Dallas County Economic Development Authority executive director Wayne Vardaman, who worked with GSG’s previous owners, said it’s too early to tell what the outcome of the new partnership will be.

“We don’t really know them (Grey Mountain) that well — let’s give them a few more months and we’ll see,” Vardaman said.

“We believe the new owners will be a positive relationship. The positive aspect is there’s always a chance for new owners to expand.”

Gray Mountain Partners invests in lower middle market companies across a wide range of industries and in transactions with enterprise values between $30 and $150 million.