UGI Corp.’s AmeriGas said it will use the cash from its sale of a 750,000-gallon propane storage facility in Hawaii to service debt. (Source: Shutterstock)
AmeriGas Propane agreed to sell a 750,000-gallon storage facility and its Hawaiian delivery fleet to Isle Gas.
AmeriGas, a subsidiary of UGI Corp., will use the proceeds to pay down debt, in line with UGI’s capital priorities, according to the announcement released on June 20. A sale price was not disclosed.
AmeriGas operates in all 50 states and sells more than 820 million gallons of propane annually.
The sale is expected to close before the end of 2025. Centane Associates served as the financial adviser to AmeriGas in the deal.
Isle Gas is managed by Argo Infrastructure Partners.
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