UGI Utilities to Sell Electric Division to Argo Infrastructure Partners

UGI Utilities, Inc., a wholly owned subsidiary of UGI Corporation (NYSE: UGI), announced a definitive agreement to sell its Electric Division to funds managed by Argo Infrastructure Partners LP (Argo). The transaction marks a strategic shift for UGI, allowing the company to concentrate on its core natural gas business, while placing Electric Division customers and employees under the stewardship of Argo, a committed infrastructure operator with deep experience supporting regulated utilities.

Argo, which manages over $7.5 billion in assets as of March 2026, sees this as its 20th investment and fourth utility investment in Pennsylvania. The acquisition brings expanded capital investment and long-term infrastructure management experience to a growing region within the Commonwealth. Argo's investment philosophy focuses on essential services that provide long-term value to communities, aligning with the needs of the Electric Division's customer base.

UGI Utilities serves more than 760,000 customers across Pennsylvania and Maryland, providing both natural gas and electric utility services. The sale of the Electric Division allows UGI to streamline operations and invest further in its natural gas transmission and distribution, midstream services, propane distribution, and renewable natural gas generation initiatives. UGI Corporation, headquartered in Valley Forge, PA, is a distributor and marketer of energy products and services in the U.S. and Europe, offering safe, reliable, affordable, and sustainable energy solutions through its subsidiaries.

Argo Infrastructure Partners, founded by Jason Zibarras, is an independent fund manager with a long-term approach to infrastructure investing. The firm invests in high-quality mid-market infrastructure businesses and assets that provide essential services over their long operational lives, including utilities, renewable energy, and digital infrastructure. Argo's experience in managing regulated utilities is expected to benefit the Electric Division's customers and employees through continued investment and operational expertise.

The transaction is subject to customary regulatory approvals and closing conditions. For more information about UGI Utilities, visit www.ugi.com. For more information about Argo Infrastructure Partners, visit www.argoip.com. Additional details about UGI Corporation can be found at https://www.ugicorp.com.