Firmament-Backed Matador Gas Acquires Action Propane and Ozark Mountain Propane

NEW YORK, Aug. 25, 2026 /PRNewswire/ -- Matador Gas LLC ("Matador" or the "Company") announced today that it has completed the acquisitions of Action Propane, Inc. ("Action"), based in Leander, Texas, and Ozark Mountain Propane Company ("Ozark Mountain"), headquartered in Garfield, Arkansas. Matador provides full-service propane services, including refueling, tank installation, and maintenance, to residential and commercial customers across Texas and Arkansas.

The acquisitions of Action and Ozark Mountain represent an important milestone in Matador's continued expansion. Action has served residential and commercial customers across the Austin and Highland Lakes markets for more than 40 years. Ozark Mountain operates six full-service locations serving residential, commercial, industrial, and agricultural customers across Arkansas. Together, the businesses increase density in Matador's existing service areas, expand its footprint into new markets, and broaden the Company's customer base.

Founded in 1984 by Murray and Wanda Hoggarth, Action has built a strong reputation for reliable propane delivery and customer service throughout the Austin area and surrounding communities.

"For more than 40 years, our customers have been at the heart of everything we've done," said Wanda Hoggarth, co-founder of Action Propane. "Finding the right partner to carry that legacy forward was incredibly important to our family. From the beginning, it was clear that Matador shares our values and our commitment to taking care of customers and employees alike."

Founded in 1994 by Bob Jackson, Ozark Mountain has provided propane products and services to customers across Arkansas for more than 30 years.

"When we made the decision to sell the company after our father passed away, we were very selective about who we would trust with what our family had built," said Jennifer Stowe, daughter of Ozark Mountain's founder. "Matador was the only company we seriously considered because we believed they understood the importance of our business and would take the same care in preserving what my father and family created."

"We are thrilled to welcome Action and Ozark Mountain to Matador," said Rusty Janssen, Chief Executive Officer of Matador Gas. "Both businesses have built strong reputations through decades of reliable service and longstanding customer relationships. We look forward to partnering with their teams, preserving the local brands and service models that have made them successful, and providing additional resources to support their continued growth."

"Action and Ozark Mountain are natural fits with Matador, adding high-quality local operators that strengthen and extend the Company's footprint," said Brian Peters, Principal at Firmament. "We are proud to continue partnering with Rusty and the Matador team as they build a leading propane distribution platform across the South."

About Matador Gas 

Matador Gas is a leading propane distributor serving customers across Texas and Arkansas. Matador is committed to providing reliable service while adapting to the evolving needs of the local communities it serves.

About Firmament 

Firmament (https://firmament.com) provides control equity, minority equity, and growth debt capital to lower-middle market businesses primarily in three core industry verticals: Technology, Healthcare, and the Environment. Within these verticals, Firmament invests in service, software, and specialty-manufacturing companies with significant scaling potential. Firmament seeks to be a value-added partner to entrepreneurs, management teams, and business owners, and curate solutions by deploying versatile capital in a user-friendly way. With offices across the United States, Firmament is focused on turning small business into big business.

For more information:
Jacqueline Haversat
[email protected]

SOURCE Firmament