Eldridge Closes $350 Million Lease Facility with ProPetro
NEW YORK–(BUSINESS WIRE)–
Eldridge Capital Management (“Eldridge”) today announced the closing of a $350 million lease facility with ProPetro Energy Solutions, LLC d/b/a PROPWRSM (“PROPWR”), a wholly owned subsidiary of ProPetro Holding Corp. (NYSE: PUMP). The facility will provide PROPWR, the power generation solutions division of ProPetro, with access to growth capital for the acquisition of new power generation equipment for its robust and growing commercial pipeline across oilfield, industrial, and datacenter sectors.
This lease facility provides PROPWR with access to additional capital to acquire high efficiency natural gas reciprocating engine generators and modular turbines to support its target of 750 megawatts delivered by 2028. Eldridge’s capital solution supports PROPWR’s ability to execute on this vision and reinforces its position as a leading provider of innovative, reliable power solutions across multiple high growth and power constrained end markets.
“We are excited to partner with PROPWR as it continues to expand its business to address the growing electricity needs of its diverse customer base,” said Kyle Parks, Managing Director at Eldridge Capital Management. “Eldridge’s lease facility supports PROPWR’s strategic vision to deliver project specific and engineered behind the meter power solutions at a time when electricity demand continues to outpace grid availability.”
Since 2025, Eldridge’s asset-based credit strategy has committed more than $2 billion of capital spanning 2.4 gigawatts within the power space.
Eldridge’s Diversified Credit Platform invests across a broad spectrum of asset-based credit, corporate credit, and structured credit. Eldridge’s asset-based credit strategy provides loans and leases secured by mission-critical, income-producing assets across a diverse set of industries and asset classes, including manufacturing, energy and power, maritime, chemicals, metals, technology, aircraft, and railcars. Since 2015, Eldridge has originated over $17 billion of asset-based transactions and today operates the largest private, independent equipment finance platform in North America by both assets and origination volume as of 2026.
About Eldridge
Eldridge is an asset management and insurance holding company with over $70 billion in assets under management that consists of two divisions: Eldridge Capital Management and Eldridge Wealth Solutions. Eldridge Capital Management, through its subsidiaries, focuses on four investment strategies – diversified credit, GP solutions, real estate credit, and sports & entertainment. Eldridge Wealth Solutions, an insurance and retirement solutions platform, is comprised of Eldridge’s wholly owned insurance companies, Security Benefit and Everly Life. Eldridge is wholly owned by Eldridge Industries. To learn more, visit www.eldridge.com.
About ProPetro
ProPetro Holding Corp. is a Midland, Texas-based provider of premium completion and power services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources.
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KEYWORDS: Texas New York United States North America
INDUSTRY KEYWORDS: Professional Services Oil/Gas Insurance Energy Finance Asset Management
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