New York (Oct. 18, 2023) — Firmament, a provider of structured equity capital solutions to small- and medium-sized enterprises, has made a strategic investment in Matador Gas, one of the leading retail propane distributors and standby generator service providers. This partnership underscores Firmament's commitment to supporting leaders in the environmental services sector and propelling the growth of reliable energy solutions.
Propane, a versatile and environmentally friendly fuel source, plays a crucial role in various industries and in residential applications. Matador Gas has emerged as one of the leading platforms in the propane distribution industry, offering efficient and affordable solutions that meet the evolving needs of customers. With a focus on safety, reliability and environmental responsibility, Matador Gas has established itself as one of the trusted leaders in the market.
Firmament's investment in Matador marks a significant milestone in the company's journey toward becoming one of the market leaders. Through this strategic partnership, Matador will gain access to Firmament's talent network, financial resources and expertise in the environmental services sector. This collaboration will enable Matador to accelerate its expansion plans, invest in technology and further enhance its service offerings.
Brian Peters, vice president at Firmament, expressed his enthusiasm about the investment, stating, "We are excited to join forces with Matador, a dynamic player in the propane distribution and standby generator space. 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." Andy McNeill, an operating partner at Firmament, added, "Propane is an essential energy source, and Matador's customer-focused approach to distribution aligns with our values as a firm. Through this collaboration, we aim to drive continued growth in the propane market and set new standards for energy distribution."
Brandon Annett, CEO of Matador, stated, "Our partnership with Firmament marks an ambitious next step in Matador's growth story. We are excited to continue providing quality service to our customers in Houston and to initiate several key growth initiatives in adjacent markets." Matt Terry, president of Matador, commented, "Brandon and I are excited to bring our collective experience to bear with Matador. We are proud of what our team has achieved and eager to grow beyond our current footprint."