UGI Utilities, a wholly owned subsidiary of UGI Corp., has entered into a definitive agreement to sell its Electric Division to funds managed by Argo Infrastructure Partners, a well-established midmarket manager of essential infrastructure and utility assets.
The purchase price is approximately $470 million, subject to working capital adjustments. After-tax proceeds will be used to reduce UGI debt and for general corporate purposes, strengthening UGI’s balance sheet and providing greater financial flexibility. The transaction is expected to close in first quarter 2027, subject to customary closing conditions and applicable regulatory approvals.
UGI Utilities’ Electric Division assets include approximately 2,700 miles of transmission and distribution lines and 14 substations in Pennsylvania’s Luzerne and Wyoming counties that serve more than 63,000 customers. Its experienced local leadership team, strong track record in operations, safety and customer service, and
