People MAtter Most

The greatest investment we make is in the people who guide and support our mission and our companies each day. We are nurturing a culture that inspires trust, clarifies purpose, aligns systems, and empowers talent. We strive to advance well-being in all we do.

Our Values

As Partners,
we extend and earn trust.

As Leaders,
we see and support innovation.

As Stewards,
we craft and create value.

The Granite Equity Partners Team

Rick Bauerly

Managing Partner/CEO

Rick is the Founder of Granite Equity and serves as the Managing Partner and CEO, shaping vision and strategy. In prior roles, Rick co-founded Venture Allies, was in general management at Bauerly Companies, and worked for Deloitte & Touche. A graduate of Saint John’s University, Rick also holds an MBA and MPA from Harvard University. In community work, Rick helped build the Anderson Center, a nonprofit dedicated to management and leadership development. He currently serves on the board of the Greater St. Cloud Development Corporation and the Initiative Foundation, and is a prior board member for CentraCare Health. On a personal note, Rick enjoys time with family, nature and travel, and triathlons with friends.

Paul Cameron

Chief Financial Officer

Paul is Granite Equity Partners' Chief Financial Officer, overseeing the firm’s financial processes as well as its tax, regulatory and compliance matters. He joined the firm in 2015 with experience gained through his leadership roles at Atomic Learning, Hennepin Paper Company and Bauerly Companies. He is a Brown University graduate, and he earned his MBA at the Carlson School of Management. Paul is actively involved in his community through Cub Scouts, the Lions, his church and more. He hopes to golf in all 50 states and, happily, is "over halfway there".

Angie Krtnick Complin

Talent Director

As Talent Director for Granite Equity Partners, Angie recruits top talent into key positions in Granite’s companies and works to expand the Granite Talent Network. She joined the firm in 2016, bringing a range of experience from her roles at Salo, Best Buy and Grant Thornton. She is a College of Saint Benedict graduate and she earned her MBA at the University of Minnesota - Carlson School of Management. Angie is an active member of the St. Ben’s Alumnae Board and is involved in Our Lady of Grace Catholic Church ministries. She is personally energized by staying active with her fitness, golfing and traveling the world.

Pat Edeburn


Pat is a co-founder of Granite Equity and a Partner in the firm, leading Granite Equity’s Investing Activities. In previous positions, Pat was the Director of Corporate Accounts for Medtronic and a consultant with Deloitte & Touche. A graduate of Carleton College, Pat earned his MBA at Harvard. He is actively involved with First United Methodist Church and the United Way of Central Minnesota. In his free time, Pat enjoys hunting, fishing and biking.

Christine Heinzeller

Tax Manager

Christine is the Compliance Manager for Granite Equity Partners, coordinating tax, regulatory and accounting matters. She joined the firm in 2012 with broad prior experience gained through her work with Ernst & Young LLP and as a contracted tax professional to clients including TCF Bank, HB Fuller, Ameriprise Financial and many others. Christine graduated from UW-Madison. She volunteers in her children’s school and enjoys traveling, reading and spending time with her family.

Shelly Bauerly Kopel


Shelly has been an operating partner with Granite Equity since its inception and is a Partner in the firm, leading its Governing Activities. Prior to joining Granite Equity, Shelly co-founded and managed Venture Allies. Before that, she was Program Director for the Bush Leadership Program at the Carlson School of Management. She is a College of St. Benedict graduate and she holds advanced degrees from Harvard and the University of Minnesota. Shelly donates time and expertise to non-profits, and she enjoys biking, tennis, taking long walks and spending time with her family.

Joanne Kudrna

Director of Strategy Services

Joanne is Director of Strategy Services for Granite Equity Partners, supporting company boards and executive teams through detailed strategic planning processes. She joined the firm in 2002, bringing significant prior experience from her work with Honeywell and Venture Allies. A graduate of Carthage College, Joanne earned her MBA at Harvard. In the community, she is involved with the Women’s Fund and shares her expertise in strategic planning with various non-profit organizations. In her downtime, Joanne enjoys daily walks with her Australian Terrier.

Cindy Lamp

Board Administrator

Cindy serves as Board Administrator for Granite Equity Partners, supporting Board Chairs and CEOs in their work to provide effective governance for the Granite Companies. She joined the firm in 2013, bringing considerable experience from previous roles at Leighton Broadcasting and Bernick’s. Her community interests include United Way, Boy Scouts and fundraising to fight breast cancer. On a personal note, Cindy enjoys books, movies, swimming and time with family and friends.

Laura Messner

Office Administrator

Laura serves as the Office Administrator for Granite Equity Partners, including support for the team and firm operations. She joined Granite Equity in 2016 with experience serving customers and clients at March of Dimes, Glensheen Mansion, and Bloomington Chamber of Commerce – where she also wrote communications plans and implemented social media strategies. She is a graduate of the University of Minnesota Duluth. Laura participated in Leadership Twin Cities, a 9-month program that brings together professionals in the public, private, and non-profit sectors to address solutions to community issues. In her downtime, Laura enjoys reading, being active, and spending time with family and friends.

Art Monaghan

Senior Advisor

Art is a co-founder of Granite Equity, a former Partner in the firm, and an on-going Senior Advisor. In previous roles, Art was a Principal at Norwest Equity Partners, he founded and was President of Computer Guidance Group, and he worked for Arthur Andersen in their Professional Sports Practice. Art is a graduate of the University of Notre Dame, where he was Lou Holtz’s head football manager. Art is involved in numerous non-profit and community organizations. Art is a loyal fan of Fighting Irish football, he enjoys coaching multiple sports and he has a passion for traveling the world with his family.

Keith Olson

Director of Investments

Keith serves as the Director of Investments for Granite Equity Partners, leading the firm’s business development activities and the search for and evaluation of Minnesota-based new platform investments and global add-on acquisitions for portfolio companies. He joined the firm in 2013 after various roles with McKinsey & Company, Updata Partners, The Carlyle Group, Morgan Stanley, and CotterWeb Enterprises. He earned both his bachelor’s degree and his MBA from Georgetown University and continues to support the school in a variety of ways. On a personal note, Keith is an avid golfer and enjoys spending time on and off the course with family and friends.

Jen Riedeman

Marketing Manager

As Marketing Manager for Granite Equity Partners, Jen supports the portfolio companies’ boards and manages communications for the firm. She joined the firm in 2001, bringing experience from her work with Venture Allies, Doherty Employment Group, and St. Cloud Technical College. Jen graduated from the College of St. Scholastica and is involved with the Central Minnesota Community Foundation’s Women’s Fund. In her downtime, Jen enjoys spending time with friends and family and enjoys the outdoors – especially camping and boating.

Tracy Schulte

Technology & Well-Being Director

Tracy balances two roles for Granite Equity. As Technology Director, Tracy manages the firm’s technology tools and processes. As Well-Being Director, she leads the firm’s well-being initiatives and employee engagement programs. She joined the firm in 2005, bringing experience from her work with Venture Allies and Wolters Kluwer Financial Services. She holds both a bachelor’s degree and an MBA from St. Cloud State University. She is involved with Greater Minnesota Fight for a Cure, Sartell Farmers’ Market Board, and St. Francis Xavier School. In her free time, Tracy enjoys the outdoors.

Greg Schumacher


Greg has been an operating partner with Granite Equity since its inception and is a Partner in the firm, leading its recruiting activities. Before joining Granite Equity, Greg founded Schumacher Executive Search. He began his executive search career with Korn/Ferry International. Greg is a graduate of St. John's University and he earned an MBA from the Carlson School at the University of Minnesota. Greg Chairs the Notre Dame Academy Wellness Committee and leads coaching education for the Hopkins Youth Hockey Association. Greg enjoys spending time with family, exercising and coaching youth sports.

Ryan Schwartz


Ryan serves as Controller for Granite Equity Partners, converting financial data into timely, relevant, accurate, and user-friendly reports for stakeholders. He joined the firm in 2005, bringing considerable prior experience from his work with Venture Allies; Kern, DeWenter, Viere, Ltd.; and Bankers Systems. Ryan is a graduate of St. Cloud State University. In his free time, Ryan enjoys sports, hunting and spending time with his family.

Carrie Willis

Investment Manager

Carrie serves as an Investment Manager for Granite Equity Partners, tracking our investment pipeline, managing due diligence projects with our partner firms, analyzing business valuations, and coordinating investment transactions. She joined the firm in 2016, bringing a decade of prior experience from progressive roles at Chartwell Financial Advisory. During this period, she developed expertise in business valuation and earned the designation as an Accredited Senior Appraiser. Carrie holds a bachelor’s degree in Business Administration from Saint Mary’s College, Notre Dame, where she graduated with distinction. Her community work has included volunteering for a non-profit educational organization and a patient-focused healthcare foundation. Carrie enjoys time with her family and outdoor activities in Greater Minnesota.

Board Of Directors

(Board Chair)
Owner/CEO, Anderson Trucking Service

Retired Owner/CEO, Bauerly Companies/Knife River

Owner/President, Coborn’s

Retired Owner/CEO, Domaille Engineering

Owner/President, Ferche Companies

Shareholder and Principal, Gray Plant Mooty

Owner/President, One Mortgage, LLC

Co-Founder/Former Owner, Access Cash Int’l &
Former Owner/CEO, Phillips Recycling Systems

CFO, Coldspring

Owner/President, Torborg Construction

Owner/CEO, Spee-Dee Delivery

Retired CEO, Wolters Kluwer

Owner/President, Preferred Credit

Our Company CEOS

Todd Schroeder
CEO, Aeration Industries

Greg Closser
CEO, All Flex

Todd Tholkes
CEO, Altimate Medical

Bryan Burns

John Bryant
CEO, GeoComm

Ben Wiltsie

Jeff Bigger
CEO, Massman Automation

Brad Goskowicz
CEO, Microbiologics

Jeff Ackerson
CEO, Vector Windows