Spencer serves as President of Matrix and Co-Head of the Downstream Energy & Convenience Retail Investment Banking Group (DER). As Co-Head of DER, he is responsible for new client development and managing all aspects of client transactions. He advises clients on company sales, corporate carve-outs, capital raises, recapitalizations, special situations, valuations, strategic planning, and assisting clients with acquisitions of target companies. Since joining Matrix in 1998, Spencer has advised numerous companies of various sizes, with the majority of those being downstream energy companies involved in petroleum marketing and convenience retailing, quick service restaurants, wholesale fuels distribution, propane and heating oil distribution, lubricants distribution, and refined fuels and propane terminaling. Examples include: Carroll Independent Fuel Co.; CrossAmerica Partners, LP; Revere Gas, Inc.; Quarles Petroleum, Inc.; Dixie Gas & Oil; Freeman Gas; Global Partners, LP; SC Fuels; Pester Marketing Company; E.J. Pope and Sons, Inc.; Ports Petroleum Company, Inc. & Ports Investments, LLC; Tedeschi Food Shops, Inc.; and The Wills Group.
In addition to advising many leading companies in the downstream energy & convenience retail industry, Spencer has authored and contributed to several articles on the topics of mergers and acquisitions, access to capital, strategic planning and valuations. He is a member of the Society of Independent Gasoline Marketers of America (SIGMA), the National Association of Convenience Stores (NACS), and the National Propane Gas Association (NPGA).
Prior to joining Matrix, Spencer was a senior business valuation consultant with Ellin & Tucker, Chartered, a nationally recognized business valuation, consulting and accounting firm, and a corporate lender with NationsBank (now Bank of America). As a holder of the Chartered Financial Analyst designation, he is a member of the CFA Institute and is also recognized as an Accredited Senior Appraiser by the American Society of Appraisers. Spencer holds a B.S. degree (with honors) from West Virginia University and an M.B.A. from Baylor University.
He is a member of the Board of Directors for the West Virginia University Foundation; Chesapeake Employers’ Insurance Company and its wholly owned corporate venture subsidiary, iCubed Ventures, LLC. He also serves on the Board of Advisors for PCI II, L.P., an SBIC that makes mezzanine and minority equity investments. Spencer previously served on the Board of Visitors for University of Maryland’s Hospital for Children and the Board of Directors for The CollegeBound Foundation.
He is also qualified as a FINRA General Securities Representative (Series 7), General Securities Principal (Series 24), Uniform Securities Agent (Series 63), Investment Banking Representative (Series 79) and Operations Professional (Series 99).