- Owners Realize a Partial Return on Investment
- Leadership Team in Place for the Next Phase of Growth
- New Directors Join the Company’s Governing Board
Little Falls, MN, (February 29, 2008) – Atomic Learning has chosen St. Cloud, Minnesota based Granite Equity Partners to assist with the next phase of the company’s growth and development.
Since its founding in 2000 by a group of eleven area teachers, technology coordinators, and business people, Atomic has grown rapidly to become the leading proivider of web-based software training for the K-12 educational market. The company serves more than 12,000 schools across 49 states, with growing international, higher education, and corporate markets. Atomic provides a library of 30,000 easy-to-understand tutorials on how to use more than 100 of the most common software applications.
With some of the eleven founding owners approaching retirement and others looking for a partial return on investment after seven years of company building, the owners preferred the flexibility offered by Granit Equity Partners. Brian Westerberg, one of the founding owners and managers said, “some of us preferred to retain most or all of our stock, while others preferred to sell most or all of their stock, and Granite Equity encouraged us to choose the best mix for our personal circumstances.”
In reflecting on the partnership, Dan Meyer, Chief Executive Officer and continuing owner offered, “Atomic Learning is a recognized leader in our market, making us an excellent fit with Granite Equity’s mission of partnering with growing private companies in Greater Minnesota. Their capital to support continued growth, their experience in company building, and their commitment to the local community should benefit all of Atomics’s shareholders. Ron Kresha, Chief Operating Officer and continuing owner, Paul Cameron, who joins the company today as Chief Financial Officer and a new owner, and I are excited about the company’s next phase of growth.”
With this partnership, a new Board of Directors is formed, including Brian Westerberg as a continuing member and representative of the founding owners, Dan Meyer as a continuing member and Chief Executive Officer, and three new members including Gary Marsden, co-founder and former CEO of Marco and a Granite Equity investor, Bill Pelfrey, growth company board member and a Granite Equity investor, and Rick Bauerly as Managing Partner of Granite Equity Partners.
Gary Marsden observed, “Atomic Learning has grown rapidly and has strong future growth prospects. With its culture of teamwork and innovation, there is a strong foundation in place for continued growth, and I hope to lend some of my own organization-building experience to the team as well.”
About Atomic Learning
Atomic Learning, headquartered in Littly Falls Minnesota, is an award-winning and market-leading provider of web-based software application tutorials for the K-12, higher education, and corporate markets. For more information visit,www.atomiclearning.com. (Cherry Tree does not maintain, endorse, or make any representations as to the content accuracy or quality of this website.)
About Granite Equity Partners
Granite Equity Partners, headquartered in St. Cloud Minnesota, invests human and financial capital from our community of investors, executives, and advisors to advance select companies in our region toward their full potential. For more information visit www.graniteequity.com. (Cherry Tree does not maintain, endorse, or make any representations as to the content accuracy or quality of this website.)
ATOMIC CONTACT: Dan Meyer (866) 259-6890 office
GRANITE CONTACT: Rick Bauerly (320) 251-1800 office