Utilities sector specialist acquired by Far Eastern conglomerate

Rainman Collateral, a specialist service provider in the Utility Sector has been sold to a conglomerate based out of Hong Kong.

The deal secures another sale for the company’s founder, Leeds-based entrepreneur Grant Nicholson, who now heads up his own boutique private equity firm – Pharaoh Capital.

Nicholson described the sale as: “Another notch on my belt. I have plenty more deals to come in the coming years, I am a young lad making my way and have no intention of stopping anytime soon.”

The deal agreed is a full buyout of Rainman Collateral, with the current management providing a handover period to the new owners.

Nicholson’s Pharaoh Capital venture is focusing on investing funds into full buyout opportunities in the Renewable Energy and Technology sectors, with a focus on driving growth for its investments with structured debt arrangements.