FOR IMMEDIATE RELEASE
Wills & Associates Public Relations
Combination Creates Leading Mid-Atlantic Investment Banking Firm
Serving Emerging Growth and Technology Clients
BETHESDA, MD and ARLINGTON, VA – November 5 2013 – Chessiecap Securities, Inc. and The Washington Corporation today announced the combination of their two firms, creating a leading middle market investment banking firm headquartered in the Mid-Atlantic region. The combination provides both firms with a stronger platform to offer clients the highest level of investment banking services. In addition to establishing a critical mass of senior bankers, the firm now possesses enhanced experience in industries integral to the Mid-Atlantic economy, including education, environmental services, government contracting, healthcare services, information technology and communications. The combined firm will operate under the “Chessiecap Securities” brand.
As part of the transaction, G. William Bavin and Gordon Treco, co-founders of The Washington Corporation, will become partners at Chessiecap. Bavin has more than 25 years of investment banking and corporate finance experience, including two decades representing scores of companies in the education industry as investment banker, strategic advisor and board member. Treco brings a wealth of experience garnered during a 30-year career in several industries, including environmental services, government contracting, and healthcare services. Both Bavin and Treco began their finance careers in New York, at the Chase Manhattan Bank and Citicorp, respectively, and have been long-time residents of the Washington, D.C. area.
“We are very pleased to announce this merger of investment banking resources. The combined firm will benefit from The Washington Corporation’s strong relationships and expertise in education, environmental services and information technology,” said Douglas M. Schmidt, founding partner of Chessiecap Securities. “Bill and Gordon bring with them the experience and creativity needed to build value for our target market of growth and technology companies in this region and nationwide.”
“I have known and respected Doug since his first years in the Mid-Atlantic when he spearheaded the government and technology practices in two major firms. I am thrilled to combine forces with him and his partners,” said Bavin.
“Bill and I share a common vision with our new partners of building a regional investment banking firm known for delivering the highest level of advice, execution and integrity in the industry,” added Treco.
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About Chessiecap Securities Inc.
Founded in 2003, Chessiecap Securities, Inc. is a financial services company based in Bethesda, Md., providing investment banking services to emerging growth and technology firms in the Mid-Atlantic region. To learn more about Chessiecap, please visit the firm’s website at www.chessiecap.com.
About The Washington Corporation
Established in late 2010, The Washington Corporation (TWC) was founded as a collaborative investment bank with an interdisciplinary approach to serving its customers. TWC offers its clients expert advisory services along with professional execution on mergers, acquisitions, divestitures and corporate finance. For more information on The Washington Corporation, see www.washingtoncorp.com.