Greenville, S.C.-based Elliott Davis LLC (FY14 net revenue of $70.2 million) and Chattanooga, Tenn.-based Joseph Decosimo & Co. (FY13 net revenue of $37.2 million) announced plans to merge effective Jan. 1. The combined firm will be known as Elliott Davis Decosimo.
Rick Davis, MP of Elliott Davis, will lead the combined firm. Decosimo MP Nick Decosimo will serve on the executive committee, which will be comprised of representatives from both firms. Decosimo and Elliott Davis bring distinct markets and complementary areas of specialization to the merger. The combined firm will maintain all current office locations while making strategic investments in key practice areas and expanding its professional staff over the coming years.
“Our firms share common cultures and a commitment to providing superior service and expertise to our clients,” says Decosimo. “We look forward to building upon our individual successes to create a firm with a more powerful regional focus and an even broader array of capabilities and expertise to better serve our clients.”
“This combination positions us to serve our clients with an even broader range of expertise across a wider geographic footprint,” says Davis. “We are excited about the growth opportunities this will bring to not only our clients, but also to our people.”
“This has been part of our ongoing strategy,” Davis. “We looked at the big picture five years ago of where we were and where we wanted to be, and have been pursuing growth opportunities inside that geographic area.” Davis confirms that conversations with Decosimo picked up 16-18 months ago, and adds, “Decosimo, from a geographic perspective, was in synch with where we have been looking. But more than that, the culture is a good fit.”
Regarding the name change to Elliott, Davis, Decosimo, Davis tells IPA that “we’ve had a tremendous brand in Elliott, Davis in our marketplace, and Decosimo has had a tremendous brand in theirs. It only makes sense to combine the names and take advantage of the successes of both firms.”
Davis and Decosimo MP Nick Decosimo made announcements together on Oct. 29 – first to the Decosimo staff and then to the Elliott, Davis & Co. staff. “There was a lot of positive energy and excitement from both firms. This gives us a lot of momentum going forward.”