RICHMOND, VA – July 22, 2008 – When Matrix first opened its doors as an M&A advisory firm over 20 years ago, our main focus was a commitment to excellence, passion for what we do and building long-lasting, solid relationships with our clients. Today, those principles still hold true. Over the years we have exceeded the expectations of hundreds of clients and have maintained a closure rate of 90%+.
Matrix celebrated its 20th Anniversary with a three day, two night gala event for over 200 guests in Newport, RI. Activities included a welcome reception at the International Tennis Hall of Fame, sailing, golf and tennis. The highlight of the event was a wonderful celebration at Rosecliff Mansion, overlooking the cliffs on the Atlantic Ocean. The business portion included memorable presentations by the Matrix team, Tom Brady, Sr., Scott Rasmussen of Rasmussen Reports and Professor George Overstreet with the University of Virginia. The event was a huge success and a great time was had by all.
This year has also been more than just a celebration of two decades in business. Despite a soft financing market, Matrix continues to flourish. After closing nine transactions in the first six months of this year (including two sell side assignments last month), the first half of 2008 has proven to be quite remarkable.
We have been fortunate to have our success continue in the recruiting field as well. Kevin White recently joined the firm as a Vice President. Kevin brings with him over eleven years of experience in the M&A and corporate development field – more recently with Circuit City and BB&T Capital Markets. John Cudzik also recently joined as a Director to enhance the firm’s Building Materials & Allied Products’ practice. He has over 75 transactions to his credit and over 19 years of corporate finance experience. John spent the past eight years with Ferguson Enterprises, a subsidiary of Wolseley, a leading supplier of construction products, materials and services across Europe and North America, with sales of over $30 billion. We are continuing our recruiting efforts and look forward to adding additional senior level professionals to our team. Other additions include Cara Grealis in Marketing and Kim Wagner as part of our Energy & Multi-Site Retail Group.
Our continued dedication to our clients through senior level attention, creative and critical thinking, as well as our unparalleled attention to detail has made the company what it is today. In 2001, Matrix was purchased by MONY/AXA Financial (NYSE:AXA) to serve as its “in-house” M&A investment banking arm for its high net worth and institutional clients, and in 2005 was repurchased by the senior management team at Matrix. Those team members include our managing directors who have been with the firm for over 13 years on average and our vice presidents, who have an average tenure of over seven years. This investment by management marked a real commitment to see the company grow and prosper.
Jeff Moore, President of Matrix, commented, “As we reflect back over the past 20 years, I am reminded of how unique our corporate culture is. We take the time to truly understand the needs of our clients well in advance, and in many cases, years in advance of an actual transaction. We know what is at stake and provide honest and straight forward advice; that type of commitment is the foundation for many of the close client relationships that we still maintain today. Our success is a direct reflection of those relationships and we sincerely appreciate the trust that our clients have placed in us. We look forward to another successful 20 years.”
Contact: Jeffrey G. Moore, President