We sincerely hope that you and your families continue to be healthy and safe.  We want to start by thanking all of our clients who made 2021 the most successful year in the history of Matrix.  We greatly appreciate that they entrusted us to advise them on their M&A transactions, capital raising needs and valuation mandates. 2021 was certainly an interesting year.  As a nation, we dealt with the challenges of COVID-19 on a personal level at home with family and friends, as well as professionally with our businesses.  At Matrix, like many of you, we have certainly felt the effects of both.  The combination of fear of potential tax hikes, rapid consolidation in many industries, low interest rates and robust capital availability, drove M&A activity to record levels. We are extremely proud of the way everyone at Matrix has dealt with the on-going adversity and worked hard to meet the challenges we faced throughout the year.  Our entire team continues to live up to The Matrix Principle in every respect.  We are also incredibly thankful for the many valued relationships we have with our clients and sincerely appreciate the confidence they placed in us as their advisor.

In 2021, we had the privilege of working with many exceptional clients and are grateful to have advised on 29 successful transactions.  These included company sales, corporate carve-outs, buy-side assignments and capital raises.  In addition, we also advised on 15 valuation engagements for the purposes of estate, strategic and/or exit planning.

In February, we moved into our new corporate offices at Gateway Plaza in Richmond and added significant space to accommodate current and future growth.

In June, we made the decision to drive additional growth for the firm with the launch of our Capital Advisory Investment Banking Group.  Industry veteran, John Whalen joined Matrix as Head of the group, along with Ryan Weir, Vice President and Garrett Novotny, CPA, Analyst.  The addition of this new group has brought an even deeper level of experience and focus to all facets of capital advisory and transaction execution, as well as provided our clients with expertise on capital structure efficiency, liquidity, and go-to-market strategy.

In early November, Tod Butler, Senior Advisor, was the proud recipient of the Society of Independent Gasoline Marketers of America (SIGMA) 2021 Distinguished Statesman Award.  The award was presented to Mr. Butler as an individual whose deeds and efforts over the last 50 years have made a significant contribution to the welfare of the retail and wholesale fuels marketing industry.  He is one of only five individuals to be so honored in the history of the association.  In 2001, he joined Matrix as a Vice President in the firm’s Downstream Energy & Convenience Retail Investment Banking Group, where he has focused on business development and client advisory, and he served in that capacity until he became a Senior Advisor in 2019.  Since joining Matrix, Mr. Butler has led the firm’s partnership with SIGMA and continued to focus his efforts on the association’s growth in membership and as counsel to its leadership.


In addition to John Whalen, Ryan Weir and Garrett Novotny, CPA with our Capital Advisory Group, we also welcomed several other team members to Matrix, including David Corbett, Director, CFA; James Mickelinc, CPA, Alex Harper and Alex Rakos as Analysts, all in our Downstream Energy & Convenience Retail Investment Banking Group.  Sahan Pandey, Analyst, joined our Consumer & Industrial Products Investment Banking Group, Maggie Gerhardt came on board as Director of Compliance, and Jessica Cookmeyer joined as Marketing Coordinator.

We would also like to recognize Sean Dooley, CFA, ASA; Martin McElroy, CFA; Matt Oldhouser, CPA; Kyle Tipping, CFA; John Mickelinc, CFA; Nate Wah, CPA and Mike Tucker, CFA whose contributions to Matrix and our clients resulted in promotions.  Our goal has always been to provide our employees with opportunities to develop and grow their careers at Matrix, and we look forward to their continued achievements in the years to come.

As the new year begins, we know that many challenges still linger from the pandemic, including continued uncertainty around taxes, interest rates and the pandemic.  However, we remain optimistic about the coming year and hope that it will be a time of renewal and success for all.  For over 34 years, throughout all types of market conditions, Matrix has been providing serious advice and sound transaction execution services to our clients.  Through our deep knowledge of the industries we serve, ability to execute highly complex customized transactions and negotiating experience, we guide each of our clients through their most difficult decisions and help them derive maximum value for their business.  This is why “We’re Known By The Work We Do”.

We wish you all the best in 2022.