Granite Partners Equips Portfolio Companies for Success

Granite Partners Equips Portfolio Companies for Long-Term Success With NetSuite

In 2001, Rick Bauerly had the idea to open a different kind of investment firm. Minnesota-based Granite Partners purchases and holds stakes in locally connected businesses, giving owners an alternative to selling to a larger public company or traditional private equity with the goal to help businesses succeed for the next 100 years. It was an idea born of Bauerly’s experience working in his own family’s business and experiencing its sale. Granite invests in established companies across manufacturing, distribution, and services.

COMPANY

Granite Partners

LOCATION

St. Cloud, Minn.

Industry

Manufacturing
Professional Services
Software And Technology Companies

Employees

1,000 to 4,999

Number of Countries

Number of Subsidiaries

SYSTEMS REPLACED

Legacy System
Microsoft ERP
QuickBooks
Salesforce

NETSUITE PRODUCTS IMPLEMENTED

NetSuite OneWorld
NetSuite CRM
NetSuite Advanced Manufacturing
NetSuite SuiteCommerce Advanced
NetSuite Revenue Recognition
NetSuite WMS
NetSuite Inventory Management
NetSuite CPQ(opens in new tab)
NetSuite SuiteProjects(opens in new tab)
NetSuite SuiteAnalytics
NetSuite Learning Cloud Support

Implementation Partner

Deloitte Consulting(opens in new tab)

“NetSuite CPQ enables more accuracy and speed, which allows for greater revenue growth with the same number of resources because we aren’t focusing on rework. It allows for greater pricing power.” Rick Bauerly, Founder and CEO, Granite Partners

Making Its Mark in Minnesota

Carving out its niche: The Granite portfolio now includes 10 companies with Minnesota roots, nearly $1 billion in equity value, and 2,500 employees. Granite leaves 80% of management to the individual companies but brings in financial expertise and an expanding selection of services to fuel the businesses' impressive track records of growth.

Systems hit a breaking point: As a holding company, Granite centralises certain operations of its unique businesses, like banking and credit management. That coordination presented challenges because many companies ran on decades-old systems with disconnected data and processes. By 2020, it was time for a change as several solutions approached their sunset dates and the pandemic highlighted the need for cloud technology.

One platform, many businesses: After considering Microsoft, SAP, and Epicor, Granite decided to transition its operating companies to the platform the investment arm had used for years: NetSuite. The system had the flexibility to support everything from a project-based software company to an industrial manufacturer and could help these diverse organisations scale. All told, NetSuite has replaced or is scheduled to replace 11 individual business systems at Granite’s portfolio companies.

CPQ enhances customer experience: Granite companies use NetSuite’s integrated modules to help with manufacturing, inventory management, and the configure, price, and quote (CPQ) process—facilitating growth without a proportional increase in costs. NetSuite CPQ(opens in new tab), for example, automated highly manual processes for the companies that make custom products. This has increased accuracy, sped up cycle times, and provided a competitive edge.
Read more about Granite Partners’ success with NetSuite(opens in new tab).

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