Matrix Capital Markets Group Acquired by Citizens Financial Group — Financial Services M&A

Citizens Financial Group has signed a definitive agreement to acquire Matrix Capital Markets Group, an advisory firm focused on downstream energy and convenience retail. The deal is structured as an add-on acquisition: Citizens’ wholly owned subsidiary, Citizens JMP Securities LLC, will purchase substantially all of Matrix’s assets, with Matrix expected to operate as a division of CJMPS after closing. Financial terms were not disclosed, and the transaction is expected to close in the first quarter of 2026, subject to regulatory approvals.

Matrix, based in Richmond, Virginia, provides advisory services to clients across the United States, with particular emphasis on convenience retailers, wholesale fuel distributors, propane and heating oil distributors, and lubricants distributors. Citizens, headquartered in Providence, Rhode Island, said the acquisition is intended to expand its sector-focused advisory capabilities in areas that align with its existing commercial banking and treasury services footprint, strengthening its ability to serve companies in downstream energy and convenience retail supply chains. Matrix reported completing more than 70 merger-and-acquisition transactions since 2021, underscoring its activity in advisory services for the sector.

Beyond the asset purchase and integration into CJMPS, no additional deal terms were released. The acquisition is positioned as a strategic capability build for Citizens’ investment banking platform, with Matrix’s downstream energy and convenience retail banking team expected to continue operating within the expanded structure following regulatory clearance.