Milwaukee-based investment bank Grace Matthews has spun off its non-chemical investment banking division into a new, independent company.
The new company is called TKO Miller LLC, and is based in the same office. It was purchased for an undisclosed price by the employees and is led by former Grace Matthews managing directors Tim Oleszczuk and Tammie Miller. Nick Kozik also transitioned to the new company.
Grace Matthews conducted a year-end review of the business, and made the strategic choice to separate the chemical and non-chemical businesses.
TKO Miller specializes in lower middle market transactions for family-owned and founder-held businesses in a variety of industries, including industrial services, construction products and services, business process outsourcing and health care.
"Too often private middle-market firms are underserved, despite being valuable, successful organizations," said Tim Oleszczuk, managing director of TKO Miller. "With decades of experience, the team at TKO Miller will bring its big bank experience and established track record of delivering superior results to middle-market companies to clients in Wisconsin and around the country seeking opportunities to grow or monetize their companies."
Grace Matthews, which has 15 remaining employees, will continue to focus on business sales, acquisitions, capital raises, recapitalizations, strategic advisory services, management buyouts and valuations for the chemical industry.
"We deeply admire the connections, expertise and commitment Tim and Tammie bring to each of their clients and the industries they serve," said John Beagle, CEO and co-founder of Grace Matthews. "Together we came to the strategic decision that both organizations would be better served as standalone firms. For Grace Matthews, this means a dedicated focus going forward on the chemical and materials value chain, where our firm is most traditionally known and where our team brings over 150 years of combined industry experience."