Tom Decosimo

Staff Photo by Tim Barber
Mike Costello, left, Tom Decosimo and Joseph Decosimo talk about their new company, Decosimo Corporate Finance, in a board room at the Tallen Building in downtown Chattanooga. The company is a licensed broker-dealer and specializes in mergers and acquisitions.

For the past 38 years Joseph Decosimo and Co. has helped facilitate the sale of many companies and five major league baseball teams, including the 1983 purchase of the Texas Rangers by George W. Bush and others.

Still, with the current state of the banking and finance industry, some at Decosimo see the advantage of thinking small.

Tom Decosimo and Mike Costello, both principals at Decosimo Advisory Services, a division of Joseph Decosimo and Co., have formed a new investment banking company, Decosimo Corporate Finance LLC, to specialize in mergers and acquisitions.

Like others in the finance industry, they believe a consequence of the break-up and fall of many of the behemoth banks will be a return to small firms and philosophies that still value a handshake and one's reputation.

"Businesses need to deal with people who are trusted, have experience and are connected," Mr. Decosimo said. "We are just at the right place at the right time when the financial world is going to look back to a more local brand of investment banking."

Mr. Decosimo and Mr. Costello recently became broker-dealers licensed by FINRA, the Financial Industry Regulatory Authority, an arrangement now required as a result of additional regulation rising from the banking crisis.

Mr. Costello said the added regulation and licensing requirements will result in more firms practicing a specialized form of banking.

"Business owners know how to run their business, but they don't know how to sell their business," he said. "We have developed a way to help business owners sell their business at the highest price. That's what we specialize in."

Joseph Decosimo, senior principal emeritus, believe the new corporate finance outfit brings added value and service to the company he founded in 1971.

"I've never believed in just flicking and ticking," he said. "I believe the way to help business is to bring a business mind to bear and help them make decisions."

Mr. Costello said the rich Decosimo firm history and connections are a testament to their quality of service.

"We've got the horsepower here that is well known and well established and highly reputable," he said. "That has been established over a long number of years providing the highest quality professional service available."

Joseph Decosimo and Co. has more than 300 employees, yet Decosimo Corporate Finance involves just Mr. Costello, Tom Decosimo, Paul Cheney, Brent McDade and Andrew Gardner.

Officials involved in the new company will continue working with Decosimo Advisory Services.