UGI Corporation
| File:UGI Corporation logo.svg | |
| Formerly | United Gas Improvement Co. |
|---|---|
| Company type | Public company |
| NYSE: UGI S&P 400 component | |
| Industry | Energy industry |
| Founded | 1882 |
| Headquarters | |
Area served | United States Europe |
Key people | Mario Longhi, Chairperson Bob Flexon, CEO Sean O'Brien, CFO |
| Revenue | Increase $7.651 billion (2018) |
| Increase $0.718 billion (2018) | |
| Total assets | Increase $11.980 billion (2018) |
| Total equity | Increase $3.681 billion (2018) |
Number of employees | 7,700 (2018) |
| Subsidiaries | UGI Utilties UGI Energy Services Mountaineer Gas Co. AmeriGas UGI International |
| Website | www |
UGI Corporation—originally established as United Gas Improvement Corp.—is a leading distributor of natural gas and electricity based in King of Prussia, Pennsylvania. The company operates extensively throughout the United States and Europe.
Among UGI’s holdings is AmeriGas, recognized as the largest propane distributor across the U.S., alongside European affiliates including AvantiGas, Antargaz, and Flaga. Additionally, UGI oversees both interstate and intrastate natural gas transmission and storage facilities within the Marcellus Shale region.
History
Founded in 1882 under the name United Gas Improvement Co., UGI initially gained controlling interest in the Equitable Illuminating Gas Light Company by 1903, which managed Philadelphia Gas Works. In 1899, it created the United Electric Company of New Jersey to unify various electric and lighting utilities under a single holding entity; this organization was acquired by Public Service Corporation of New Jersey in 1907 and later merged into what is now Public Service Enterprise Group.
In October 1964, Industrial Gases, Inc. initiated an antitrust lawsuit against UGI concerning bottled propane sales in the Pittsburgh market. Meanwhile, UGI’s Philadelphia Gas Works division contested a Federal Power Commission decision that imposed limits on natural gas pricing; this ruling was ultimately affirmed by the Supreme Court in 1968. That same year, in February, the company adopted the name UGI Corporation.
UGI’s expansion has been fueled by targeted acquisitions: In 1993, AmeriGas purchased Petrolane following its bankruptcy proceedings. The company broadened its European operations by acquiring Totalgaz S.A.’s liquefied petroleum gas business in France for €423 million in May 2015. This was complemented by the October 2017 purchase of Totalgaz Italia, which was subsequently rebranded as UniverGas Italia.
Further growth included acquiring South Jersey Industries’ retail natural gas segment in December 2018 and buying Columbia Midstream Group for about $1.275 billion in August 2019. That same month marked UGI’s completion of full ownership of AmeriGas.
In January 2020, UGI expanded its presence with the $540 million acquisition of Mountaineer Gas Company based in West Virginia and enhanced its renewable energy capabilities through the July 2020 acquisition of Houston-based GHI Energy LLC.
These strategic investments illustrate UGI’s commitment to a diversified portfolio encompassing energy products and services across North America and Europe, strengthening its competitive position and market footprint within the energy sector.
Noteworthy Individuals
- A. O. Granger, served as UGI president around 1886, recognized for his influential guidance during the company's formative expansion
External links
- Pages with broken file links
- Companies listed on the New York Stock Exchange
- Electric power companies of the United States
- Natural gas companies of the United States
- Companies based in Montgomery County, Pennsylvania
- American companies established in 1882
- Companies in the S&P 400
- 5
- Companies of the United States by year of establishment