MILWAUKEE - Grace Matthews, a specialized middle-market investment bank, announced that it has spun off its non-chemical investment banking business into a new, independent, employee-owned entity. The decision came after a comprehensive strategic review of the firm's operations, which determined that separating its chemical and non-chemical businesses would result in clearer brand identities and value propositions for current and future clients. The new entity, which will be wholly independent of Grace Matthews, will be known as TKO Miller LLC and will be headed by Tim Oleszczuk and Tammie Miller, both formerly managing directors at Grace Matthews.

TKO Miller will focus on lower-middle-market transactions in a diverse set of non-chemical industries, including industrial services, construction products and services, business process outsourcing, and healthcare. TKO Miller will have a particular interest in helping family and founder-held businesses navigate the sale process.