Presidio Investment Holdings to Merge with EQV Ventures Acquisition Corp. in $660 Million Deal

Presidio Investment Holdings has agreed to merge with EQV Ventures Acquisition Corp. in a deal worth $660 million. The merged company, Presidio Production Co., will trade on the NYSE and focus on acquiring and optimizing aging oil and gas wells. Presidio's management will roll over $40 million in equity, and Morgan Stanley Energy Partners will roll over $25 million. The deal includes a $50 million reserve-based loan and $279 million of investment grade debt.

Presidio Investment Holdings LLC, a Fort Worth, Texas-based oil and gas well efficiency company, has agreed to merge with blank-check firm EQV Ventures Acquisition Corp. in a deal valued at approximately $660 million. The merger, which will result in the formation of Presidio Production Co., aims to optimize aging oil and gas wells across the United States [1].

The transaction will involve Presidio's management rolling over $40 million in equity and Morgan Stanley Energy Partners rolling over $25 million. Additionally, the deal includes a $50 million reserve-based loan commitment from Citizens Bank and $279 million of investment grade debt remaining in place [1].

Presidio Production Co. is expected to trade on the New York Stock Exchange under the symbol FTW once the transaction is completed. The merged company plans to capitalize on the sale deadlines of upstream oil and gas assets, generating returns without spending a cent on drilling [1].

Presidio's management team, led by Co-CEOs Will Ulrich and Chris Hammack, will continue to lead the company post-merger. The company aims to pay an annual common dividend of $1.35 per share, with more than three quarters of its production hedged through 2027. This strategy will provide stable cash flow for dividends and systematic debt reduction [1].

The deal also includes the acquisition of a complementary Texas Panhandle asset from an affiliate of EQV, EQV Resources LLC. This acquisition will boost the count of Presidio's mature oil and natural gas wells to more than 2,200, with an expected net production of 26,000 barrels of oil equivalent per day in 2025 [1].

Jerry Silvey, CEO of EQV Group, commented that the transaction aligns with EQV's vision to bring a world-class dividend yield-focused producing energy company to the public markets. The structure of the transaction and meaningful commitments from investors will support the experienced management team at Presidio [1].

The transaction is expected to close in the near future, with Presidio Production Co. set to become a publicly listed company on the New York Stock Exchange [1].

References:

[1] https://www.bloomberg.com/news/articles/2025-08-05/presidio-set-to-go-public-in-us-via-660-million-spac-merger
[2] https://www.marketscreener.com/news/presidio-petroleum-to-go-public-via-business-combination-with-eqv-ventures-acquisition-corp-creati-ce7c5ed8d88ef322