Firmament invests in Matador Gas

October 26, 2023 By    

Firmament, a provider of structured equity capital solutions to small- and medium-sized enterprises, has made a strategic investment in Matador Gas, a retail propane distributor and standby generator service provider.

Matador Gas offers efficient and affordable solutions that meet the evolving needs of customers, with a focus on safety, reliability and environmental responsibility, according to the company.

“We are excited to join forces with Matador, a dynamic player in the propane distribution and standby generator space,” says Brian Peters, vice president at Firmament. “Matador’s commitment to growth and strategic vision aligns perfectly with Firmament’s investment philosophy. Together, we will drive innovation, support growth and shape the future of the industry.”

Friends Brandon Annett and Matt Terry formed Matador Gas in 2021 to acquire companies in the industry and support and grow the legacy businesses. Through the strategic partnership, Matador will gain access to Firmament’s talent network, financial resources and expertise in the environmental services sector.

“Our partnership with Firmament marks an ambitious next step in Matador’s growth story,” says Annett, the CEO of Matador. “We are excited to continue providing quality service to our customers in Houston and to initiate several key growth initiatives in adjacent markets.”

Matador says the collaboration will enable it to accelerate its expansion plans, invest in technology and further enhance its service offerings.

“Brandon and I are excited to bring our collective experience to bear with Matador,” adds Terry, the president of Matador. “We are proud of what our team has achieved and eager to grow beyond our current footprint.”

Firmament says it partners with entrepreneurs, management teams and business owners, and curates solutions by deploying capital in a user-friendly way. Firmament concentrates on software and services businesses with significant scaling potential in the health care, logistics and environmental sectors. It has offices across the U.S. and U.K.

“Propane is an essential energy source, and Matador’s customer-focused approach to distribution aligns with our values as a firm,” says Andy McNeill, an operating partner at Firmament. “Through this collaboration, we aim to drive continued growth in the propane market and set new standards for energy distribution.”

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About the Author:

Brian Richesson is the editor in chief of LP Gas Magazine. Contact him at or 216-706-3748.

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