Ullico completed the acquisition of Hearthstone Utilities from BlackRock.

Ullico, an insurance and financial services holding company, completed the acquisition of Hearthstone Utilities, a holding company that owns and operates six natural gas local distribution companies across five states in the United States, from BlackRock. Financial terms were not disclosed. "Hearthstone is a geographically diversified natural gas distribution platform with strong, integrated local leadership. For the Ullico Infrastructure Fund, this platform represents a unique opportunity to wholly-own a regulated business," Rohit Syal, Ullico head of acquisitions for infrastructure business.