Citizens Financial Group, Providence, R.I., is acquiring market-leading advisory firm Matrix Capital Markets Group..The all-cash deal is expected to close in the first quarter. The purchase price was not disclosed. After the deal is completed, Matrix Capital will operate as a division of Citizens Financial subsidiary Citizens JMP Securities LLC. Richmond, Va.-based Matrix Capital focuses on the downstream energy and convenience retail sector, with expertise in the automotive aftermarket and outdoor recreation and marine sectors. The company serves customers nationwide and has a second office in Baltimore along with bankers in Cleveland and Atlanta. “The Matrix team of talented bankers brings strong capabilities in several sectors that dovetail with existing corporate coverage,” said Citizens Head of Commercial Banking Ted Swimmer. Washington, D.C.-based WilmerHale was legal adviser to Citizens. Matrix was represented financially by investment bank Houlihan Lokey, Los Angeles, and legally by Calfee.
