Matrix Capital Markets Group, Inc., an advisory group to the RV industry, entered into a definitive agreement to be acquired by Citizens Financial Group, Inc.
Matrix Managing Director William O’Flaherty said the Matrix team will continue advising RV and outdoor recreation companies within Citizens Financial Group’s platform.
“The combination brings together Matrix’s sector-specific expertise and Citizens’ broader banking capabilities,” O’Flaherty said, “to further support clients as they grow and pursue strategic opportunities.”
Citizens Financial Group said the Richmond, Virginia-based Matrix has been a leading outdoor recreation market advisory firm. The bank said Matrix is also the leading advisory firm in the downstream energy and convenience retail sector.
Since 2021, Matrix has completed more than 70 M&A transactions.
Citizens Financial Group Head of Commercial Banking Ted Swimmer said the Matrix team brings strong capabilities in several sectors that dovetail with existing corporate coverage.
Citizens Financial Group said the transaction will be funded with cash. The Providence, Rhode Island-based bank, has $ 226.4 billion in total assets and 1,000 branches. The bank is the 17th-largest by assets in the U.S. as of Sept. 30, 2025, according to the Federal Reserve.
Matrix was founded in 1988 and has additional offices in Baltimore, as well as bankers based in Cleveland and Atlanta.
