AAVIN

AAVIN is a private equity firm based in Cedar Rapids, Iowa, founded in 1999. The firm specializes in equity and debt investments across various sectors, including medical services and devices, telecommunications, manufacturing, distribution, industrial products, and software. AAVIN primarily focuses on late-stage and expansion-stage financing, targeting smaller investment opportunities typically under $10 million, with many requests around $5 million. The firm partners with strong management teams to drive internal growth and pursue acquisitions, leveraging its extensive experience in private equity and venture capital. AAVIN's five-member investment team boasts over 120 years of cumulative experience, having invested in more than 125 companies. The firm emphasizes active involvement throughout the investment lifecycle, providing support in areas such as strategic planning, finance, marketing, recruitment, and market analysis.

PAUL D. RHINES

Senior Partner

6 past transactions

Celleration

Series D in 2008
Celleration Inc. is a privately held medical device company based in Eden Prairie, Minnesota, founded in 1999. The company specializes in developing and commercializing therapeutic ultrasound technologies for wound care. Its flagship product, the MIST Therapy System, utilizes low-frequency ultrasound delivered through a saline mist to promote healing in wounds. This innovative approach allows ultrasound energy to penetrate beyond the surface of the wound, stimulating cellular activity and enhancing the healing process. Since receiving FDA clearance in 2005, Celleration has established a strong presence in the U.S. market, with over 1 million MIST Therapy treatments performed, benefiting more than 65,000 patients across numerous healthcare facilities. Celleration's commitment to advancing wound care technology has resulted in significant clinical and economic benefits, reinforcing its role in the medical community.

Coolibar

Venture Round in 2005
Coolibar is a Minneapolis-based company that specializes in designing, manufacturing, and marketing sun protection products for individuals of all ages. Founded in 2001, the company offers a diverse range of items, including sun-protective clothing, sun hats, swimwear, sunglasses, umbrellas, and sunscreens. Coolibar's commitment to sun safety is reflected in its comprehensive portfolio aimed at providing effective protection from harmful UV rays.

WindLogics

Series B in 2004
WindLogics specializes in advanced wind analysis and forecasting services for the renewable energy sector. It scientifically evaluates potential wind energy sites using exclusive historic weather data archives and proven meteorological models adapted for wind power applications. The company optimizes ongoing operations in real-time, serving clients such as developers, investors, bankers, operators, and utilities.

FENA Design

Venture Round in 2003
FENA Design, established in 1992 and based in Plymouth, Minnesota, specializes in designing and manufacturing innovative power mobility devices. The company's flagship product is Vertran, a standing power wheelchair that enables users with paraplegia or quadriplegia to stand and navigate through various environments, offering medical, therapeutic, functional, and personal benefits compared to traditional sitting wheelchairs.

Celleration

Series B in 2002
Celleration Inc. is a privately held medical device company based in Eden Prairie, Minnesota, founded in 1999. The company specializes in developing and commercializing therapeutic ultrasound technologies for wound care. Its flagship product, the MIST Therapy System, utilizes low-frequency ultrasound delivered through a saline mist to promote healing in wounds. This innovative approach allows ultrasound energy to penetrate beyond the surface of the wound, stimulating cellular activity and enhancing the healing process. Since receiving FDA clearance in 2005, Celleration has established a strong presence in the U.S. market, with over 1 million MIST Therapy treatments performed, benefiting more than 65,000 patients across numerous healthcare facilities. Celleration's commitment to advancing wound care technology has resulted in significant clinical and economic benefits, reinforcing its role in the medical community.

WindLogics

Series A in 2002
WindLogics specializes in advanced wind analysis and forecasting services for the renewable energy sector. It scientifically evaluates potential wind energy sites using exclusive historic weather data archives and proven meteorological models adapted for wind power applications. The company optimizes ongoing operations in real-time, serving clients such as developers, investors, bankers, operators, and utilities.
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