Granite Equity is a private, long-term investment and holding company that helps retiring owners keep ownership local and promotes community growth and sustainability. Located in St. Cloud, Granite Equity has invested in private businesses in Minnesota and adjacent states since 2002.
“Granite Equity grew out of the simple idea of keeping local ownership here—at home—where it can benefit the community,” said Rick Bauerly, Founder and CEO of Granite Equity. Embedded in that core focus is a commitment to partner locally as well, a value shared by Gray Plant Mooty. “We are thankful that we have strong, long-term partners like Gray Plant Mooty who share our dedication to the prosperity of local businesses.”
Gray Plant Mooty has worked closely with Granite Equity, advising the company on numerous investments over the course of their 15-year partnership. A steady partner, Gray Plant Mooty has had the privilege of watching Granite Equity as its investment portfolio grew from a startup fund to an enterprise with more than $400 million of assets under management.
One specific example shows how the client benefitted from this long and trusting partnership—when one of Granite Equity’s investment efforts spanned two transactions in three years.
Minnesota-based attorneys Ryan Gerads and Mark Williamson advised Granite Equity Partners in 2014 as the company made a minority investment in Altimate Medical Holdings, Inc. That initial minority investment was made alongside a majority investor. Then, a few years later, when the majority investor wanted to transition its stake in Altimate Medical, Granite Equity was interested in recapitalizing to gain a majority interest in the company.
Because Gray Plant Mooty had advised Granite Equity through the initial investment, Gerads and Williamson could provide built-in insights and efficiencies. They swiftly advised Granite Equity, making their transition to majority owner as smooth as possible. In addition to advising on the acquisition, the team was able to help Granite Equity bring in new lending partners to help grow the company in its next stage.
Through the course of their partnership, Gray Plant Mooty has garnered a deep understanding of Granite Equity’s goals, allowing the firm to anticipate Granite Equity’s needs and achieve results that help them, and the companies they invest in, grow and succeed.