Granite Equity Partners is selling Atomic Learning to Boathouse Capital and Renovus Capital Partners, a pair of Pennsylvania-based private equity firms. The PE firms invested $19 million in subordinated debt and equity along with Atomic Learning’s management. Additionally, M&I Bank provided senior debt financing.

Atomic Learning is a Minnesota-based education company providing technology to instructors. Atomic Learning is focused on promoting the practical application of technology in education by empowering educators with the professional development and training resources needed to create college and career-ready students. Its training products provide workshops, classroom-ready projects and tutorials on more than 200 commonly used software applications and are used by 460,000 teachers and 733,000 college students nationwide.

“As we look to take the company to the next level, the management team and I are excited to be partnering with owners that have significant experience in the education industry,” noted Dan Meyer, Atomic Learning’s CEO. “Boathouse has proven their ability to create value during their successful ownership of Primrose Schools and the Renovus team has had a great track record helping small education companies grow by investing in sales force expansion and new products.”

“What really excited us about Atomic Learning was its compelling customer value proposition,” added Bradley Whitman, a Renovus founder. “Schools have spent billions over the last two decades putting technology in the classroom but very little on training teachers on how to use this technology and integrate it into the curriculum. Atomic Learning directly addresses this critical need. “

“Online training is the wave of the future,” concluded Bill Dyer, a Boathouse founder. “Atomic Learning’s platform offers on-demand training that fits each individual teacher’s specific needs, making it far more cost-effective and efficient than traditional seminar-style training.”

DLA Piper advised Boathouse and Renovus on the transaction while Leonard Street and Deinard advised Atomic Learning. Atomic Learning was represented by Greene Holcomb & Fisher.

Boathouse Capital is a lower middle-market mezzanine debt and equity private equity firm in Wayne, PA.

Founded in January 2010, Renovus Capital Partners is an education-focused private equity fund based in Wynnewood, PA, that invests in small- and mid-sized businesses within the education sector.