UGI Utilities, Inc., a subsidiary of UGI Corporation (NYSE: UGI), announced a definitive agreement to sell its Electric Division to funds managed by Argo Infrastructure Partners LP, a mid-market manager of essential infrastructure and utility assets. The deal, announced on April 28, 2026, marks a strategic shift for UGI as it sharpens its focus on its core natural gas business while placing Electric Division customers and employees into the hands of a committed infrastructure operator.
Argo Infrastructure Partners, founded by Jason Zibarras, brings deep experience supporting regulated utilities. This transaction represents Argo’s 20th investment and its fourth utility investment in Pennsylvania. The acquisition will bring expanded capital investment and long-term infrastructure management experience to a growing region within the Commonwealth. As of March 2026, Argo manages over $7.5 billion in assets and invests in utilities, renewable energy, digital infrastructure, and other long-duration assets.
UGI Utilities serves more than 760,000 customers throughout Pennsylvania and Maryland as a natural gas and electric utility company. The sale allows UGI to streamline operations and concentrate on its natural gas distribution and marketing, as well as its broader energy services across the U.S. and Europe. UGI Corporation, listed on the New York Stock Exchange, is a distributor and marketer of energy products and services, including natural gas transmission and distribution, electric generation, propane distribution, and renewable natural gas.
The impact of this transaction is significant for both companies and the regions they serve. For UGI, divesting the electric utility enables it to allocate resources more efficiently toward its natural gas business, potentially improving service reliability and investment in infrastructure. For Argo, this acquisition expands its portfolio in Pennsylvania, a state where it already has a strong presence, and demonstrates its commitment to long-term infrastructure management. Customers of the Electric Division can expect continued service under an experienced operator focused on essential utility assets.
For more information, visit UGI Utilities, Argo Infrastructure Partners, and UGI Corporation.
