Latest news with #JasonZibarras
Business Wire
12 hours ago
- Business
- Business Wire
Argo Acquires UGI's Gas Storage and Supply Assets in Hawaiʻi
HONOLULU--(BUSINESS WIRE)--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). 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 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
Yahoo
30-04-2025
- Business
- Yahoo
Argo Infrastructure Partners Strengthens Portfolio Companies with ~US$2 Billion in Multiple Strategic Financing Transactions
NEW YORK & LONDON, April 30, 2025--(BUSINESS WIRE)--Argo Infrastructure Partners ("Argo"), founded by Jason Zibarras, is a leading mid-market asset manager targeting essential infrastructure assets in North America, today announced a recap of a series of strategic financings across its portfolio. Across its entire portfolio of 18 high-quality infrastructure companies and projects, Argo seeks to secure appropriate financing through its extensive institutional relationships to improve liquidity, lower cost of capital and further strengthen portfolio company balance sheets to support investment and growth initiatives. Over the last 12 months Argo has demonstrated its ability to support its portfolio companies by raising debt financing across a broad range of markets, structures and asset classes at favorable rates and terms. Through these transactions, Argo has facilitated, arranged and supported approx. US $2 billion in aggregate financing for its portfolio companies, which include regulated utilities, renewable power assets, and digital infrastructure. Argo also guided its companies through their inaugural credit ratings process and obtained investment grade ratings for their long term debt issuance. The financing structures included bridge loans, asset-backed securities (ABS) and long-term notes. "We view prudent debt capital and restructuring as a key lever in unlocking long-term value. By securing capital structures and sources aligned with each portfolio company's operating profile, it improves financial flexibility," said Jason Zibarras, founder of Argo Infrastructure Partners. "Our platform-wide financing efforts have reduced volatility and enabled our portfolio companies to unlock and pursue organic and step growth opportunities." "Argo's ability to source and structure bespoke financing solutions is a powerful differentiator for our portfolio companies," said Andrew Zaroulis, Managing Director at Argo. "By leveraging our deep lender relationships, capital markets and infrastructure expertise, we're able to unlock access to lower cost capital that wouldn't otherwise be available." Select Argo Portfolio Company Financings Q2 24 - $550m - TierPoint - First "tap" issuance on TierPoint's ABS financing Q3 24 - $120m - Corning Energy - Refinanced the company's legacy amortizing bank debt into non-amortizing fixed rate notes (eliminating interest rate volatility for the company and, ultimately, its ratepayers), plus a sizeable revolving credit facility (providing liquidity for necessary capital investments in the regulated utility asset base) Q3 24 - ~$250m – Hawaii Gas – Full company refinancing through a hybrid bank and bond structure. Argo guided the company through its inaugural credit rating process and obtained investment grade credit ratings for the utility company's long-term notes issuance. Q4 24 - ~$300m - Smoky Mountain Hydro In partnership with Brookfield (50/50 co-shareholder), the portfolio completed an up-size debt financing supported by an extended 10-year off-take agreement with regional utility Tennessee Valley Authority, which was signed in 2024. Q2 25 - $500m - TierPoint - Incremental ABS issuance by TierPoint at advantageous pricing to provide additional liquidity for the company's growth initiatives. Q2 25 - >$200m - LAZ Parking - Refinancing to support the company's active add-on acquisition strategy. Including recently announced FleetLogix - 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 December 2024, Argo manages over $6 billion in assets on behalf of its investor partners. For more information, visit View source version on Contacts Media Ira GorskyEdelman Sign in to access your portfolio
Business Wire
30-04-2025
- Business
- Business Wire
Argo Infrastructure Partners Strengthens Portfolio Companies with ~US$2 Billion in Multiple Strategic Financing Transactions
NEW YORK & LONDON--(BUSINESS WIRE)--Argo Infrastructure Partners ('Argo'), founded by Jason Zibarras, is a leading mid-market asset manager targeting essential infrastructure assets in North America, today announced a recap of a series of strategic financings across its portfolio. Across its entire portfolio of 18 high-quality infrastructure companies and projects, Argo seeks to secure appropriate financing through its extensive institutional relationships to improve liquidity, lower cost of capital and further strengthen portfolio company balance sheets to support investment and growth initiatives. Over the last 12 months Argo has demonstrated its ability to support its portfolio companies by raising debt financing across a broad range of markets, structures and asset classes at favorable rates and terms. Through these transactions, Argo has facilitated, arranged and supported approx. US $2 billion in aggregate financing for its portfolio companies, which include regulated utilities, renewable power assets, and digital infrastructure. Argo also guided its companies through their inaugural credit ratings process and obtained investment grade ratings for their long term debt issuance. The financing structures included bridge loans, asset-backed securities (ABS) and long-term notes. 'We view prudent debt capital and restructuring as a key lever in unlocking long-term value. By securing capital structures and sources aligned with each portfolio company's operating profile, it improves financial flexibility,' said Jason Zibarras, founder of Argo Infrastructure Partners. 'Our platform-wide financing efforts have reduced volatility and enabled our portfolio companies to unlock and pursue organic and step growth opportunities.' 'Argo's ability to source and structure bespoke financing solutions is a powerful differentiator for our portfolio companies,' said Andrew Zaroulis, Managing Director at Argo. 'By leveraging our deep lender relationships, capital markets and infrastructure expertise, we're able to unlock access to lower cost capital that wouldn't otherwise be available.' Select Argo Portfolio Company Financings Q2 24 - $550m - TierPoint - First 'tap' issuance on TierPoint's ABS financing Q3 24 - $120m - Corning Energy - Refinanced the company's legacy amortizing bank debt into non-amortizing fixed rate notes (eliminating interest rate volatility for the company and, ultimately, its ratepayers), plus a sizeable revolving credit facility (providing liquidity for necessary capital investments in the regulated utility asset base) Q3 24 - ~$250m – Hawaii Gas – Full company refinancing through a hybrid bank and bond structure. Argo guided the company through its inaugural credit rating process and obtained investment grade credit ratings for the utility company's long-term notes issuance. Q4 24 - ~$300m - Smoky Mountain Hydro In partnership with Brookfield (50/50 co-shareholder), the portfolio completed an up-size debt financing supported by an extended 10-year off-take agreement with regional utility Tennessee Valley Authority, which was signed in 2024. Q2 25 - $500m - TierPoint - Incremental ABS issuance by TierPoint at advantageous pricing to provide additional liquidity for the company's growth initiatives. Q2 25 - >$200m - LAZ Parking - 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 December 2024, Argo manages over $6 billion in assets on behalf of its investor partners. For more information, visit
