Andrew Chidester Joins Matrix, Opens Chicago Office

Andrew Chidester Joins Matrix, Opens Chicago Office

matrix nfMiddle-market investment bank Matrix Capital Markets Group has opened and staffed a new office in Chicago. Matrix has hired Andrew Chidester as a new Managing Director with the Matrix Consumer & Industrial Products Group. John Underwood, Vice President, who has been with the Matrix Energy & Multi-Site Retail Team since 2011, will also be working in the new office.

“Matrix is very excited about having personnel dedicated to the Midwest market located in Chicago. There is too much going on with middle-market M&A and private equity in the Midwest to service it from our current offices in Richmond and Baltimore. Formalizing our marketing efforts with a permanent office is proof that we value the continued development of our investment banking practices throughout the Midwest. We are convinced that this move will be well received and that the private equity community, in particular, will appreciate our regional focus,” said Michael Morrison, Managing Director at Matrix.

andy nfMr. Chidester has over 20 years of investment banking and corporate finance experience in industrial manufacturing, distribution, building products and business services. He was previously Managing Director with Amherst Partners and Duff & Phelps, both in Chicago. Prior to that, he served as Vice President with Brown Gibbons Lang and Vice President at Dresdner Kleinwort Wasserstein in their Midwest Private Equity Group. Mr. Chidester also previously worked for Heller Financial and was one of the founding members of Heller’s Healthcare Finance Division. He started his career with Deloitte & Touche. Mr. Chidester obtained his BA in Economics and Music from Carleton College, an MBA from Northwestern University and a MS in Accounting from DePaul University.

underwood nfMr. Underwood is part of the Matrix Energy & Multi-Site Retail Group and has over 30 years of major integrated oil company experience. He was the Retail Portfolio Manager for BP and was responsible for managing their retail station divestment program in the US east of the Rockies. Mr. Underwood has worked in virtually all facets of retail marketing, and has expertise in product distribution, logistics, product supply and supply planning. He has also worked in overseas downstream operations in Romania, Poland and England.

“We are delighted to have Andy join the Matrix team. His background with distressed and performing companies, coupled with the downstream energy focus of John Underwood will make this new office a formidable one,” said Mr. Morrison.

Matrix Capital Markets Group is a middle-market investment bank that provides merger & acquisition and financial advisory services to privately-held and private-equity owned companies. Sectors of expertise include industrial manufacturing and distribution, building products, business services, consumer products and petroleum marketing & distribution. The firm was founded in 1988 and has offices in Richmond, VA (headquarters), Baltimore and Chicago (

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