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This transaction has allowed the owner of Rainbow Riggers Ltd. to implement his succession strategy while ensuring the continued success of the business. Geode Capital intends to utilize Rainbow Riggers Ltd. as a platform for additional add-on investments.
Rainbow Riggers Ltd. is an industrial maintenance company, specializing in flare and incinerator stack erection, maintenance, and demolition. Headquartered in Calgary, Alberta, Rainbow operates throughout western Canada serving customers in the oil and gas, oil sands, chemical, and pulp and paper industries.
Geode Capital Partners is a newly formed, Vancouver based, private equity group comprised of experienced managers and business owners. The purchase of Rainbow Riggers Ltd. represents Geode Capital Partners' first investment.
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