Eldridge Closes $350 Million Lease Facility with ProPetro
Eldridge Closes $350 Million Lease Facility with ProPetro
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Key Terms
reciprocating enginetechnical
A reciprocating engine is a machine that produces power by moving pistons back and forth inside cylinders, much like a bicycle pump that pushes and pulls air, with that linear motion converted into the spinning force that drives cars, small aircraft, generators, and equipment. Investors care because the engine’s fuel efficiency, reliability, maintenance needs and emissions determine operating costs, product competitiveness and regulatory risk, which directly affect a manufacturer’s profits and long-term value.
modular turbinestechnical
Modular turbines are power-producing machines built from standardized, interchangeable units that can be combined or swapped like building blocks to create different sizes or replace parts quickly. For investors, they matter because this approach can lower manufacturing and installation costs, speed up deployment, simplify maintenance, and reduce risk by making capacity expansion or repairs faster and less expensive—similar to choosing furniture made from the same snap-together pieces.
asset-based creditfinancial
Asset-based credit is a loan or line of credit that is backed by a company’s tangible assets—like inventory, accounts receivable, equipment, or real estate—so the lender can use those assets as security if the borrower can’t repay. For investors, it matters because such financing can make a company more resilient during cash squeezes but also signals that the company may have weaker unsecured borrowing options; the claim on assets affects who gets paid first in trouble, similar to a mortgage on a house.
structured creditfinancial
Structured credit is a way of bundling many loans or debt claims together and slicing that bundle into pieces with different levels of risk and return, like cutting a cake into layers where the bottom slice takes most of the crumbs and the top slice stays neat. Investors buy these slices to chase higher income or to shift credit risk, so understanding which layer you own, how the loans behave together, and how easy the slice is to sell matters for potential return and loss.
behind the metertechnical
Energy generation or equipment located on a customer’s side of the utility meter, such as rooftop solar panels, battery storage, electric vehicle chargers or energy-saving controls. It matters to investors because it reduces the amount of electricity bought from utilities, can lower operating costs for businesses, change utility revenue patterns, and shift demand in energy markets—like a homeowner installing a rain barrel that cuts water bought from the city and alters suppliers’ sales.
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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.
