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Argo Acquires UGI’s Gas Storage and Supply Assets in Hawaiʻi

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Argo Acquires UGI’s Gas Storage and Supply Assets in Hawaiʻi
News

News

Argo Acquires UGI’s Gas Storage and Supply Assets in Hawaiʻi

2025-06-20 19:28 Last Updated At:19:41

HONOLULU--(BUSINESS WIRE)--Jun 20, 2025--

Isle Gas, a wholly owned subsidiary of AMF Hawaiʻi Investment Holdings, LLC (“AMF”) managed by Argo Infrastructure Partners (“Argo”), announced today that it has reached an agreement with AmeriGas Propane, L.P. (“AmeriGas”) to purchase select non-utility gas storage and delivery assets from AmeriGas, a subsidiary of UGI Corporation (NYSE: UGI).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250617704067/en/

The asset purchase includes approximately 750,000 gallons of propane storage across multiple sites and a delivery fleet of vehicles used to serve thousands of both residential and commercial customers across four service territories: Oʻahu, Hawaiʻi Island, Maui, and Kauaʻi.

Isle Gas will be serviced by Hawaiʻi Gas, which currently supplies nearly 34,000 non-utility customers with propane across the state of Hawaiʻi, to fulfill the critical daily needs of households and businesses. Hawaiʻi Gas and Isle Gas are both wholly owned by funds managed by Argo.

“Our continuing focus is on investing in and growing infrastructure assets that provide essential services to their communities,” said Jason Zibarras, Managing Partner and Founder of Argo Infrastructure Partners. “The addition of these assets will complement our existing Hawaiʻi operations supporting a more resilient and energy-efficient future." Jason Zibarras also said, “We are delighted to have worked with UGI on this transaction, securing and providing certainty for AmeriGas’ customers in Hawaiʻi.”

“As we’ve done across our managed portfolio of infrastructure assets, Argo will support Isle Gas with access to capital and operational expertise,” said Hugh Au, Managing Director at Argo. “With this investment, Argo continues to invest in the energy needs of the Hawaiian Islands, building on and supporting Hawaiʻi Gas’ strong track record of reliability, resiliency, and safety.”

“As a diversified holding company, AMF’s purchase of these assets will increase its ability to support a continued focus on energy efficiency, resiliency, and sustainability consistent with Hawaiʻi’s climate objectives,” said Alicia Moy, President of AMF and President and CEO of Hawaiʻi Gas. “Hawaiʻi Gas is pleased to serve Isle Gas and its customers. We are committed to making this a smooth transition process for AmeriGas customers as they transition to Isle Gas, providing them with continued safe, reliable, and excellent service.”

The acquisition is expected to be completed in Q3 of 2025.

About Argo Infrastructure Partners
Argo Infrastructure Partners LP, founded by Jason Zibarras, is an independent fund manager with a long-term approach to infrastructure investing. Argo invests in high-quality infrastructure businesses and assets that provide essential services to their communities over their long operational lives, including investments in utilities, renewable energy, digital infrastructure, and other long duration infrastructure assets. Argo’s investment philosophy couples sound investment return with responsible and sustainable investing. As of Q2 2025, Argo manages over $6.25 billion in assets on behalf of its investor partners. For more information, visit www.argoip.com.

About Hawai‘i Gas
Established in 1904, Hawaiʻi Gas is the only government-franchised, full-service gas company manufacturing and distributing gas in Hawaiʻi. Hawaiʻi Gas’ non-utility operations include distribution of liquefied petroleum gas, or LPG (propane) to tank and bottled gas customers throughout the state. For more information, visit hawaiigas.com.

Argo Acquires UGI’s Gas Storage and Supply Assets in Hawaiʻi

Argo Acquires UGI’s Gas Storage and Supply Assets in Hawaiʻi

WASHINGTON (AP) — Becky Pepper-Jackson finished third in the discus throw in West Virginia last year though she was in just her first year of high school. Now a 15-year-old sophomore, Pepper-Jackson is aware that her upcoming season could be her last.

West Virginia has banned transgender girls like Pepper-Jackson from competing in girls and women's sports, and is among the more than two dozen states with similar laws. Though the West Virginia law has been blocked by lower courts, the outcome could be different at the conservative-dominated Supreme Court, which has allowed multiple restrictions on transgender people to be enforced in the past year.

The justices are hearing arguments Tuesday in two cases over whether the sports bans violate the Constitution or the landmark federal law known as Title IX that prohibits sex discrimination in education. The second case comes from Idaho, where college student Lindsay Hecox challenged that state's law.

Decisions are expected by early summer.

President Donald Trump's Republican administration has targeted transgender Americans from the first day of his second term, including ousting transgender people from the military and declaring that gender is immutable and determined at birth.

Pepper-Jackson has become the face of the nationwide battle over the participation of transgender girls in athletics that has played out at both the state and federal levels as Republicans have leveraged the issue as a fight for athletic fairness for women and girls.

“I think it’s something that needs to be done,” Pepper-Jackson said in an interview with The Associated Press that was conducted over Zoom. “It’s something I’m here to do because ... this is important to me. I know it’s important to other people. So, like, I’m here for it.”

She sat alongside her mother, Heather Jackson, on a sofa in their home just outside Bridgeport, a rural West Virginia community about 40 miles southwest of Morgantown, to talk about a legal fight that began when she was a middle schooler who finished near the back of the pack in cross-country races.

Pepper-Jackson has grown into a competitive discus and shot put thrower. In addition to the bronze medal in the discus, she finished eighth among shot putters.

She attributes her success to hard work, practicing at school and in her backyard, and lifting weights. Pepper-Jackson has been taking puberty-blocking medication and has publicly identified as a girl since she was in the third grade, though the Supreme Court's decision in June upholding state bans on gender-affirming medical treatment for minors has forced her to go out of state for care.

Her very improvement as an athlete has been cited as a reason she should not be allowed to compete against girls.

“There are immutable physical and biological characteristic differences between men and women that make men bigger, stronger, and faster than women. And if we allow biological males to play sports against biological females, those differences will erode the ability and the places for women in these sports which we have fought so hard for over the last 50 years,” West Virginia's attorney general, JB McCuskey, said in an AP interview. McCuskey said he is not aware of any other transgender athlete in the state who has competed or is trying to compete in girls or women’s sports.

Despite the small numbers of transgender athletes, the issue has taken on outsize importance. The NCAA and the U.S. Olympic and Paralympic Committees banned transgender women from women's sports after Trump signed an executive order aimed at barring their participation.

The public generally is supportive of the limits. An Associated Press-NORC Center for Public Affairs Research poll conducted in October 2025 found that about 6 in 10 U.S. adults “strongly” or “somewhat” favored requiring transgender children and teenagers to only compete on sports teams that match the sex they were assigned at birth, not the gender they identify with, while about 2 in 10 were “strongly” or “somewhat” opposed and about one-quarter did not have an opinion.

About 2.1 million adults, or 0.8%, and 724,000 people age 13 to 17, or 3.3%, identify as transgender in the U.S., according to the Williams Institute at the UCLA School of Law.

Those allied with the administration on the issue paint it in broader terms than just sports, pointing to state laws, Trump administration policies and court rulings against transgender people.

"I think there are cultural, political, legal headwinds all supporting this notion that it’s just a lie that a man can be a woman," said John Bursch, a lawyer with the conservative Christian law firm Alliance Defending Freedom that has led the legal campaign against transgender people. “And if we want a society that respects women and girls, then we need to come to terms with that truth. And the sooner that we do that, the better it will be for women everywhere, whether that be in high school sports teams, high school locker rooms and showers, abused women’s shelters, women’s prisons.”

But Heather Jackson offered different terms to describe the effort to keep her daughter off West Virginia's playing fields.

“Hatred. It’s nothing but hatred,” she said. "This community is the community du jour. We have a long history of isolating marginalized parts of the community.”

Pepper-Jackson has seen some of the uglier side of the debate on display, including when a competitor wore a T-shirt at the championship meet that said, “Men Don't Belong in Women's Sports.”

“I wish these people would educate themselves. Just so they would know that I’m just there to have a good time. That’s it. But it just, it hurts sometimes, like, it gets to me sometimes, but I try to brush it off,” she said.

One schoolmate, identified as A.C. in court papers, said Pepper-Jackson has herself used graphic language in sexually bullying her teammates.

Asked whether she said any of what is alleged, Pepper-Jackson said, “I did not. And the school ruled that there was no evidence to prove that it was true.”

The legal fight will turn on whether the Constitution's equal protection clause or the Title IX anti-discrimination law protects transgender people.

The court ruled in 2020 that workplace discrimination against transgender people is sex discrimination, but refused to extend the logic of that decision to the case over health care for transgender minors.

The court has been deluged by dueling legal briefs from Republican- and Democratic-led states, members of Congress, athletes, doctors, scientists and scholars.

The outcome also could influence separate legal efforts seeking to bar transgender athletes in states that have continued to allow them to compete.

If Pepper-Jackson is forced to stop competing, she said she will still be able to lift weights and continue playing trumpet in the school concert and jazz bands.

“It will hurt a lot, and I know it will, but that’s what I’ll have to do,” she said.

Heather Jackson, left, and Becky Pepper-Jackson pose for a photograph outside of the U.S. Supreme Court in Washington, Sunday, Jan. 11, 2026. (AP Photo/Jose Luis Magana)

Heather Jackson, left, and Becky Pepper-Jackson pose for a photograph outside of the U.S. Supreme Court in Washington, Sunday, Jan. 11, 2026. (AP Photo/Jose Luis Magana)

Heather Jackson, left, and Becky Pepper-Jackson pose for a photograph outside of the U.S. Supreme Court in Washington, Sunday, Jan. 11, 2026. (AP Photo/Jose Luis Magana)

Heather Jackson, left, and Becky Pepper-Jackson pose for a photograph outside of the U.S. Supreme Court in Washington, Sunday, Jan. 11, 2026. (AP Photo/Jose Luis Magana)

Becky Pepper-Jackson poses for a photograph outside of the U.S. Supreme Court in Washington, Sunday, Jan. 11, 2026. (AP Photo/Jose Luis Magana)

Becky Pepper-Jackson poses for a photograph outside of the U.S. Supreme Court in Washington, Sunday, Jan. 11, 2026. (AP Photo/Jose Luis Magana)

The Supreme Court stands is Washington, Friday, Jan. 9, 2026. (AP Photo/J. Scott Applewhite)

The Supreme Court stands is Washington, Friday, Jan. 9, 2026. (AP Photo/J. Scott Applewhite)

FILE - Protestors hold signs during a rally at the state capitol in Charleston, W.Va., on March 9, 2023. (AP Photo/Chris Jackson, file)

FILE - Protestors hold signs during a rally at the state capitol in Charleston, W.Va., on March 9, 2023. (AP Photo/Chris Jackson, file)

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