Retail propane distributor AmeriGas Propane — a subsidiary of UGI Corporation — agreed to divest its assets in Hawaii to Isle Gas.

Terms were not disclosed, but the transaction is expected to close in the fourth quarter of 2025.

Isle Gas is a fully owned subsidiary of AMF Hawaii Investment Holdings, which is managed by Argo Infrastructure Partners.

MDM’s 1Q25 M&A Report (store link) 

The transaction involves the sale of approximately 750,000 gallons of propane storage facilities and a delivery fleet serving customers across Hawaii. Proceeds will be applied to reduce AmeriGas’s debt, aligning with the company’s capital allocation priorities.

“This divestiture reflects our commitment to maximize value through our unwavering focus on driving better operational and financial performance coupled with strategic portfolio management,” AmeriGas President Mike Sharp said in a June 20 news release. “Exiting the Hawaii operations allows us to concentrate our resources and supply infrastructure on markets where we can achieve superior operational results and deliver enhanced customer value.”