1. D E T A I L E D , D R I L L - D O W N A N A L Y S I S
A N T H O N Y S T O N I T S C H
O F
A C Q U I S I T I O N S
Deal Structure
Closing Administration
Operations Consolidation &
Integration
D U E D I L I G E N C E
Sales, Purchasing, Operations,
Inventory, Property
Analysis of Trending
Comprehensive Information
Gathering
T U R N A R O U N D S
CFO / CRO / Executive
Management
Manufacturing Management &
Engineering
Numeric Analysis
Mathematical Modeling
Financial Analysis
T r a n s l a t i n g c o m p l e x c o n c e p t s i n t o c l e a r , c o n c i s e f o r m a t s f o r a
b r o a d s p e c t r u m o f c o n s t i t u e n t s
SITUATIONS
Manufacturing / Distribution Firms
Industry Rollups & Consolidations
Turnarounds, Bankruptcies, Liquidations
Banks: Workout, Asset Based Lending, Special Assets
INDUSTRIES
Manufacturing: Heavy Fabrication, Metal Stamping, Plastics, Large Turbine Generators (200+ MVA), Railroad Cars,
Electrical Equipment, General Assembly
Distribution: Consumer Goods, Building Products, Copper Wire, Electronics, Commercial Kitchen Equipment,
Office Furnishings, Decorative Laminates
Services: Engineered Services & Installation, Construction
Other: Construction, Power Generation/Utilities, Agricultural Grain & Fertilizer
ANT IETAM ADVI SORS, INC . 9530 S. Cook – Suite 401 (312) 560-5916
TONY ST ONIT SCH Oak Lawn, Illinois 60453 tony@stonitsch.net

2. advert3aa-130210193514-phpapp01
A N T H O N Y S T O N I T S C H
ACQUISITIONS, DUE DILIGENCE, TURNAROUNDS
 Engine e r / MBA
 25 ye a rs fina nc ia l ma na ge me nt
 10 ye a rs ma nufa c turing e ngine e ring
 La rge c orpora tions a nd sma ll c lose ly -he ld firms
ANTIETAM ADVIS ORS
 7 MILE Solutions – Electronic Assembly (Acquisition, Due Diligence, Startup)
 Brandess Kalt Aetna Group (Photo Accessories) (Turnaround)
 Recora Manufacturing (Due Diligence)
 Private Client – Retail Lumber & Hardware (Shareholder Advisory)
 Private Client – Plastics (Due Diligence)
 Lunt Manufacturing (Due Diligence)
 Wayne Manufacturing (Due Diligence)
 West Irving Die Casting (Due Diligence)
JJD INDUS TRIES – ACQUISITIONS
 Tower Automotive (Chapter 11 – Defense)
 Wisconsin Tool (Turnaround, Acquisition, Metrics)
 Vision Plastic and IPC (Turnaround, Consolidation)
 Midland Technology (Start-up)
 WirePro & Illinois Range (Close Downs)
 Chute Systems & Priority Mfg (Acquired Senior Debt / Secured Control)
SFC – CONSULTING
 International Paper (Outsourced Commercial Credit Management)
 Two Formica Distributors (Dtrt, Mpls) (Outsourced Commercial Credit Management)
 Agribusiness Merger (Buy side deal team)
 Metrolink Telecom (Turnaround Evaluation and Advisory Opinion)
WESTINGHOUSE ELECTRIC CORPORATION
Treasurer’s Office
 AseaBrownBoveri & Westinghouse ($300 million commercial credit portfolio)
Power Generation
 Operations Engineer (Restructuring, Metrics)
 Computer Systems (Project Management, Restructuring, beta test-site)
 CHINA PROGRAMS (Turnaround, Project Management)
PULLMAN INCORPORATED
 Steelworkers Union (Labor Incentive Restructuring)
EDUCATION
Carnegie Mellon University,Pittsburgh,PA. MBA
University ofIllinois,Urbana-Champaign, IL. BS, Industrial Engineering / Operations Research
9530 S. Cook – Suite 401 (312) 560-5916
Oak Lawn, Illinois 60453 tony@stonitsch.net
SFC

3. D E T A IL E D , D R I L L -DO W N AN A L Y S I S
Case Study
Client: OEMDistributor
Product: ProfessionalPhotographyAccessories
Customers: RetailStores
Situation: Revenue $15,000,000
Net Income ($500,000)
Inventory $3,200,000
Gross Margins 23%
Fulfillment Cost 17%
Overhead 15%
3 years
purchasing and sales records

4. Customer Concentrations
&
Strategic Plan
1 . C o n t i n u e t o h a r v e s t l a r g e r c u s t o m e r s
2 . I n s t r u c t s a l e s r e p s t o g r o w o r p r u n e m a r g i n a l s p e n d e r s
3 . T i g h t e n s a l e s p o l i c i e s a n d p r i c i n g o n t h e s m a l l
s p e n d e r s a n d r e d u c e t h e i r n e g a t i v e i m p a c t o n N e t
I n c o m e
0%
10%
20%
30%
40%
> $100k $50k -
100k
$20k -
50k
$10k -
20k
$5k -
10k
$1,000 -
5,000
$500 -
1,000
< $500
Sales
32%
11%
20%
16%
9% 10%
1% 1%
1% 1%
5%
9% 10%
31%
13%
Customers
30%
Customer Groups
Groupedby Annual Sales
Customer Clusters
The 80/20Rule
Sa l e s
C u s tom e r
s
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
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100k
$20k -
50k
$10k -
20k
$5k - 10k $1,000 -
5,000
$500 -
1,000
< $500
CUSTOMER REVENUE GROUPS
C US TOM ER G ROUP IN G
GROSS PROFIT
FULFILLMENT COST

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012
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4186
@
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6
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+'
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-
*#.
/
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G
G
G
HHH
4
0
%
8
9
%
6
1
%
6
5
%
6
2
%
8
7
%
6
3
%
8
3
%
3
4
%
8
9
%
5
1
%
7
5
%
7
7
%
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1
%
8
3
%
6
7
%
5
5
%
6
8
%
6
7
%
-
!
1,400
Customers
!
350,000
Sales
Line
Items/yr
!
400
Vendors
!
4,000
Purchases/yr
!
5,600
SKUs
in
Inventory

6. Sales reps re-focused
Targeted customer base
Identification with premier products
Distinct and clear messages to the industry
Trimmed product lines
Industry reputation stronger
Trim number of vendors
Reduce Inventory
Consolidated warehouse
Reduced warehouse footprint
Revenue $15,000,000
Net Income ($500,000)
Inventory $3,200,000
Gross Margins 23%
Fulfillment Cost 17%
Overhead 15%
Revenue $12,000,000
Net Income $500,000
Inventory $1,400,000
Gross Margins 22%
Fulfillment Cost 7%
Overhead 11%
E V E N I N A D O W N E C O N O M Y ,
T H E C O M P A N Y T H R I V E D