Written on: August 29, 2026
RUSSELLVILLE, Arkansas – 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.
These partnerships increase Matador’s presence to seven trusted propane brands serving customers throughout Texas and Arkansas, while reinforcing the company’s commitment to preserving the legacy, relationships, and service that have defined these businesses for generations.
Backed by private equity sponsor, Firmament, Matador has decades of proven experience in propane operations, acquisitions, and business management at both the corporate and local levels. They provide proven leadership and operational expertise while allowing each company to continue serving its customers under the name and reputation they have built over many years.
Founded in 1984 by Murray and Wanda Hoggarth, Action Propane has proudly served the Austin area and surrounding communities for more than four decades. Through an unwavering commitment to reliability and outstanding customer service, the company has become one of the Highland Lakes region’s most trusted energy suppliers.
“For more than 40 years, our customers have been at the heart of everything we’ve done,” said Wanda Hoggarth, co-founder of Action. “Finding the right partner to carry that legacy forward was incredibly important to our family. From the beginning, it was clear that Matador Gas shares our values and our commitment to taking care of customers and employees alike.”
Established as a family-owned company in 1994 by Bob Jackson, Ozark Mountain Propane is headquartered in Garfield, Arkansas and has proudly served residential, commercial, industrial, and agricultural customers across Arkansas through its six full-service locations, building lasting relationships throughout the communities it serves.
“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 the Matador family of brands,” said Rusty Janssen, chief executive officer of Matador Gas. “We believe both companies have earned the trust of their customers through years of hard work and exceptional service and we are eager to build on those relationships and help both companies grow.”
About Matador Gas
Matador Gas is a full-service propane marketer and trusted growth partner dedicated to investing in established propane businesses throughout the southern United States. With extensive experience in propane operations, acquisitions, and management, Matador helps local companies preserve their legacy while investing in employees, equipment, technology, safety, and operational excellence. By combining hometown relationships with industry-leading resources, Matador empowers its family of companies to continue delivering exceptional service for generations to come while preserving the local brands customers know and trust.
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.
