Company News

Underwood Joins Matrix Capital

Former BP retail portfolio manger oversaw more than 50 transactions
RICHMOND, Va. -- Matrix Capital Markets Group Inc. has announced that John J. Underwood has joined the firm as a vice president in the Energy & Multi-Site Retail Industry Group. He will be responsible for new client development and co-managing all aspects of client transactions including total company sales, asset divestitures, acquisitions, recapitalizations, valuations and strategic planning.

Underwood brings more than 30 years of major integrated oil company experience to the Matrix team. Prior to joining Matrix, he was the retail portfolio manager for BP and was [image-nocss] responsible for managing BP's retail station divestment program in the United States east of the Rockies. Underwood oversaw more than 50 transactions in a six-year period totaling more than $1 billion and managed the transition of BP's retail assets from direct supply to jobber supply.

He has worked in virtually all facets of retail marketing and has substantial experience in product distribution, logistics, product supply and supply planning. In addition to his U.S. experience, Underwood has worked in overseas downstream operations in Romania, Poland and England.

Tom Kelso, managing director and head of the Energy & Multi-Site Retail Group at Matrix said, "John brings very valuable knowledge and experience to our EMR Group, and we are very excited to welcome him to our team. Because of his background, John will allow us to provide a unique perspective that will be extremely valuable to our clients. With John joining our team, we now offer over 150 years of combined industry expertise that we can use to benefit our clients."

Matrix's Energy & Multi-Site Retail Group is a leading national provider of transactional advisory services to companies in the downstream energy and multi-site retail sectors including convenience store chains, petroleum marketers, fuels distributors, retail propane distributors, heating oil distributors, lubes retailers and distributors, terminal operators, fuels transportation companies, hospitality companies and other specialty retail chains. Team members are dedicated to these sectors and draw upon complementary experiences to provide advisory services to complete smerger and acquisition transactions, debt and equity capital raises, corporate restructurings, corporate valuations and strategic planning engagements. Since its inception in 1997, this dedicated group has successfully advised on more than 80 engagements in these sectors.

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