Matrix announces promotions, expansion of industry groups

October 9, 2017 By    

Matrix Capital Markets Group Inc., an independent middle-market investment bank, announced the promotions of three professionals, as well as the expansion of two key industry groups.


Vance Saunders has been promoted to managing director and principal. Saunders joined the firm in 2006 as a member of the company’s Downstream Energy & Convenience Retail Group. Saunders is responsible for new client development and managing all aspects of client transactions, and has extensive experience advising petroleum marketers, fuels distributors and convenience store chains.

Saunders most recently provided acquisition advisory services for Revere Gas Inc.

John J. Underwood has been promoted to managing director, and has been a member of the group since 2011.


Carlton C. Zesch has been promoted to senior analyst and has been with Matrix since 2015, and is a member of the company’s Downstream Energy & Convenience Retail Group.

Martin C. P. McElroy Jr. has joined the company’s Consumer & Industrial Products Group. Kyle B. Tipping was added to the Downstream Energy & Convenience Retail Group.

“The promotions of Vance and John to managing director are extremely well-deserved. Over the years, their unwavering commitment and deep industry knowledge have played a key role in deriving maximum value for our clients,” Thomas E. Kelso, president of Matrix, says. “Carlton’s promotion to senior analyst is the result of his continued hard work and exceptional financial analytics in support of our work on client transactions. We look forward to his continued professional growth at Matrix.”

Matrix’s Downstream Energy & Convenience Retail Group provides transactional advisory services to companies in the downstream energy and multi-site retail sectors, including convenience retailing; petroleum marketing and distribution; propane distribution; heating oil distribution; lubricants distribution; petroleum transportation and logistics; terminals and bulk plants; oilfield services; renewable fuels; food service; and specialty retail.

Photos: Matrix Capital Markets Group Inc.

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About the Author:

Joe McCarthy was an associate editor at LP Gas Magazine.

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