| "AAVIN is a major investor in a medical device company of which I am the CEO. Since our initial meeting, they have been very thorough and value-added in their due diligence leading up to their initial investment. Since the initial investment, they have continued to be supportive, responsive and value-added. I value their counsel and participation in a range of operational, strategic and governance matters. I would actively invite and not hesitate to have their participation in any future venture in which I may be involved." |
| » Kevin Nickels, CEO Celleration |
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| "AAVIN is a major investor in the last equity round that we raised for America's PowerSports, one of the nation's largest consolidators of power sports dealerships. I value their contribution and have found them to be good and supportive partners." |
| » Clark Vitulli, CEO America’s PowerSports |
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| “AAVIN was the lead investor in the last equity round raised by a company in which I served as the CEO. The business plan for the Company did not develop as anticipated and I know it has been a difficult investment for AAVIN. While their counsel at times has been tough it was very appropriate for the situation and they were good partners. Their counsel was value added and I would not hesitate to have them involved in any future venture in which I may be involved.” |
| » Jim Phillips, CEO Fena Designs |
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| “The Allsop Funds, under the direction of Paul Rhines, invested in a previous venture I founded in 1991. The AAVIN Fund provided the funding needed to repurchase RuffaloCODY from a large, public parent that bought the company in 1996. Paul Rhines and Eric Hender currently serve on my Board of Directors. I have found their counsel and support now, as in the past, to be indispensable and as always they have been great partners.” |
| » Albert P Ruffalo, CEO Ruffalo Cody |
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| "I am an M&A professional in the Twin Cities market and represent Cherry Tree Investments, which has one of the largest practices focused on middle-market and lower middle-market clients. I have had the occasion to work with AAVIN on two recent successful transactions. In one transaction AAVIN served as a member of the equity syndicate and in the other AAVIN served as the transaction sponsor. I found them very professional and a pleasure with which to work. They were honest and straightforward in all their dealings and I would welcome the opportunity to work with them again in the future. I intend to continue to show them transactions that I believe fit their investment strategy." |
| » John Hammett, Managing Director Cherry Tree Investments |
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| "I have been involved in corporate finance in the Twin Cities for many years with several organizations and in my own practice. AAVIN is an active and respected investor in the Twin Cities and recently we had an occasion to work on an investment together. It was a successful raise for a healthcare company that appears to be having good success. AAVIN served as one of the major investors of the round and proved to be a very good group with which to work. I will not hesitate to call on them again when I have another appropriate opportunity." |
| » Russell King, Principal, King Financial, LLC |
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| "I have been acquainted with the principals of the AAVIN firm for many years. They have a successful track record and are highly regarded by the community and me. They are people of high integrity and ability. As clients of our bank, they have handled their business in a professional manner." |
| » Larry Helling, President and CEO Cedar Rapids Bank & Trust |
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| "We are investors in the General Partner, AAVIN, LLC, and are Limited Partners of AAVIN Equity Partners I, LP. We have known members of AAVIN's management for many years and we were happy to become investors when the opportunity was presented. We are happy with the performance to date and believe they have a quality portfolio of investments." |
| » John Bloomhall, CEO DV Technologies, Inc. |
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| "I have known Paul Rhines and Jim Thorp for over 20 years originally through the First National Bank of Chicago and later Brinson Partners, and now Adams Street Partners. Adams Street Partners have been an investor in the three Allsop funds as well as serving as a member of the Board of Advisors for Allsop Venture Partners III, LP. Both Paul and Jim were directly involved in the management of these Funds, all of which performed very well with top quartile results" |
| » Bon French, CEO Adams Street Partners |
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| “During my tenure at Abbot Capital Management, I was responsible for investments in the three Allsop funds in which Paul Rhines and Jim Thorp were involved. I also served as an advisor for one of those funds. The Allsop funds performed well and I found the management was competent and accomplished in making successful private equity investments.” |
| » Gary Solomon, Director Greenoak Capital Management, Ltd. |
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| “I have known Paul Rhines for over 30 years and have been a co-investor with the Allsop funds in a number of successful investments. I have found Paul to be a very competent and accomplished private equity investor and as a result, would welcome future co-investment opportunities with him. Further evidence of my confidence in his abilities is the fact that I am an investor in the current AAVIN fund.” |
| » John W. (Jay) Jordan II, Managing Principal The Jordan Company, LP |
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| “I have known Paul Rhines and Jim Thorp since the 80s when I managed several investments led by Jordan Industries in which the Allsop funds served as our only co-investor. They were successful investments and Allsop, through Paul and Jim, proved to be a responsive and good partner. When an opportunity presented itself to be involved in a fund they managed, I accepted and am now an investor in the AAVIN fund.” |
| » Jonathan F. (Jeb) Boucher, Senior Principal The Jordan Company, LP |
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| “I have known Paul Rhines, Eric Hender, and Jim Thorp since the early 80s. Paul Rhines managed Allsop’s investment in one of my early successful telecommunications ventures. Eric Hender managed an investment made by SCI in the same venture. They both served on my board at the time. Since that time, the Allsop group was an early investor in a successful company I founded and I have been an investor in private equity funds that Paul Rhines, Eric Hender, and Jim Thorp have managed; I am a current investor in the AAVIN fund. Paul Rhines has served as director and a confidant in both of the ventures in which Allsop was involved. I have found his council and support invaluable.” |
| » Clark McLeod, Former CEO/Founder McLeodUSA |
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| "I have known Jim Thorp for many years and we were recently a mezzanine provider in an investment in which AAVIN is an equity provider. They have an excellent reputation in the industry and I would gladly welcome the opportunity to participate with them again on a future transaction. Our current experience has been a good one and we look forward to working with them again." |
| » Monro Lanier, Vice President Hickory Venture Group |
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| "My first involvement with Paul Rhines and Jim Thorp began when I was at First Chicago and created one of the first fund of funds in the country. We made investments in the first Allsop funds and I was an advisor to those funds. I have worked with them not only from the perspective of a limited partner (Allsop and AAVIN) but also as a fellow private equity investor. I am currently an advisor to AAVIN Equity Partners I, LP. During my experience with these gentlemen, which has spanned over 20 years, I have found them very capable and accomplished private equity investors and money managers." |
| » Daniel O’Connell, Director Stanley C. Golder Center, University of Illinois at Urbana-Champaign |
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| “I have had the opportunity to work with the AAVIN team on a couple recent transactions that we completed: Hoffco, Inc. and Hoffco's acquistion of Valley Oak Cabinets, Inc. It required them to react quickly to a financing opportunity and they were very responsive. As individuals they have shown a great deal of wisdom and business savvy in our deliberations in board of directors and off the board. I attended a meeting where their portfolio companies presented and they showed they were on top of their portfolio companies, despite the varied nature of their investments. I have found them to be very good partners and I look forward to working with them to make Hoffco, Inc. a big success.” |
| » Sam Seraphim, Partner Fieldston Investors |
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| "AAVIN participated in the most recent equity financings that we have completed for one of our portfolio companies. They were responsive and have been engaged. They have been good partners who add value both to the transaction, and the ongoing operation of the business and we would not hesitate to have them involved in future transactions." |
| » Nathan Brown, Managing Partner Wind Point Partners |
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"We are currently co-investors with the AAVIN fund in one portfolio company, a transaction that they referred to us that has performed very well to date. We have also reviewed many other potential investments on a joint basis and will continue to do so in the future.
The AAVIN team is thorough in their analysis, responsive and prudent in their judgment. We find them good partners with an approach and strategy very compatible to our own. We have also found them to be active contributors at the board level and focused on the creation of value for all constituents. We look forward to working with them."
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| » John Hoesley, Principal Prism Opportunity Fund |
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| “We have partnered with and known AAVIN management for more than twenty years. They have always added value to our mutual investments, have been good deal finders and co-investors, more than carried their portion of the work load, and are engaged partners of the highest integrity. We expect to participate with AAVIN for years to come.” |
| » David Schroder, President InvestAmerica Investment Advisors, Inc |
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| “Our relationship with the AAVIN folks has developed over the last several years. We are co-investors with the AAVIN Fund in two portfolio companies. We find them engaged, responsive, and value-added. We would not hesitate to work with them in the future. We find them to be astute co-investors and they do a great job of monitoring their investments.” |
| » John L. Ritter, Executive Vice President First New England Capital, LP |
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