Investment Summary

Granite Partners Invests In Hoonuit

On February 29, 2008, private equity firm Granite Partners invested in internet software and services company Hoonuit

Investment Highlights
  • This is Granite Partners’ 1st transaction in the Internet Software and Services sector.
  • This is Granite Partners’ 6th transaction in the United States.
  • This is Granite Partners’ 5th transaction in Minnesota.
Investment Fate
  • Hoonuit was sold to a consortium of financial buyers in 2012 for 19M USD.
  • Hoonuit was sold to a financial buyer in 2012 for 19M USD.
  • Hoonuit was sold to a strategic buyer in 2020.

Investment Summary
Date 2008-02-29
Target Hoonuit
Sector Internet Software and Services
Investor(s) Granite Partners
Deal Type Growth Capital
Advisor(s) Cherry Tree Companies LLC (Financial)

Target

Hoonuit

Minneapolis, Minnesota, United States
Hoonuit LLC provides educators with the tools needed to make informed, impactful action. Through solutions that provide intuitive analytics and personalized professional development, Hoonuit fuels teacher, staff and student success. Hoonuit LLC was founded in 2000 and is based in Minneapolis, Minnesota.

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Investor(S) 1

Investor

Granite Partners

St. Cloud, Minnesota, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Granite Equity Partners is a private equity firm that invests in established companies headquartered in the upper Midwest, with a preference for Minnesota based opportunities. Granite looks for businesses in a wide range of industries and targets management buyouts, recapitalizations, and growth capital financing transactions. Prospective companies generally have revenues between $10 to $100 million and EBITDA between $1 to $5 million. Granite Equity Partners was formed in 2002 and is based in St. Cloud, Minnesota with additional office in Northfield, Minnesota.

DEAL STATS #
Overall 6 of 13
Sector (Internet Software and Services) 1 of 1
Type (Growth Capital) 1 of 4
State (Minnesota) 5 of 11
Country (United States) 6 of 13
Year (2008) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-31 XL Specialized Trailers

Manchester, Iowa, United States

XL Specialized Trailers, Inc. is a manufacturer of specialized heavy-duty trailers for infrastructure, agricultural, utility, oil and gas, mining and alternative energy markets in North America.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-04 Microbiologics

Saint Cloud, Minnesota, United States

MicroBioLogics is a producer of lyophilized microorganisms for quality control, with distribution in more than 100 countries throughout the world. Microbiologics was founded in 1971 and is based in Saint Cloud, Minnesota.

Buy -
Mergr

Product

Company

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