Atlanta, Charlotte, Cleveland, Philadelphia, Toronto

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• Atlanta, Charlotte, Cleveland, Philadelphia,
  Toronto
• www.auroramp.com

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Table of Contents
Introduction to Aurora Management Partners
Practice Areas
Philosophy
Approach
Professionals
Credentials
Contact Information
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A No-Nonsense Approach
Aurora always sees the glass as half full. Were
trained to look at the world differently. We see
opportunities where others see only problems.
However, its our ability to rethink, react
quickly and generate tangible results that truly
sets us apart.
Rethink. When faced with the reality of keeping
a business afloat, the hardest thing to do is
objectively evaluate all possible options and
effectively chart a course for survival.
Rethinking any business situation requires
facts, clarity of purpose and a objective point
of view. Auroras professionals bring both the
objectivity and the real-world experience
struggling business need to react properly and
achieve the results expected from both ownership
and creditors. React. To survive in todays
rapidly changing marketplace, companies must
react quickly to changing market conditions,
changing customer demands and changing financial
expectations. Taking a wait-and-see attitude or
thinking about change is no longer an option.
Capitalizing on opportunities or averting
disaster requires prompt ACTION. We help
companies find the courage to move boldly and
quickly. Results. In our business results are
the only standard by which we are judged. We
consistently meet and exceed the objective agreed
upon at our engagement. This will always be the
key to our success. The Aurora professionals
take great pride in its track record and
reputation for getting the job done properly,
quickly and cost-effectively.
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Our Mission
To provide a team of highly qualified
professionals who possess the financial,
operational and strategic skills necessary to
thoroughly address the needs and expectations of
corporate management, creditors, investors and
boards of directors in rapidly changing business
environments. Aurora provides these services in
the context of business decline, business
transition or rapid business growth.
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Our Culture Results Oriented Aurora
professionals are driven to achieve client goals
and objectives. Team Focused Aurora
professionals use a team approach to problem
resolution and work closely with all levels of
client management to optimize the benefit of the
complementary skills brought by the Aurora team.
Organizationally Sensitive Aurora
professionals understand the emotions that are
present in stressful business environments and
appreciate the challenges facing family-owned
companies as well as publicly-held
corporations. Our Commitment Partnership
Aurora is committed to considering the interests
of all stakeholders to maximize value. Value
Driven Aurora prides itself on supplying
services and solutions where the benefits
received by our clients far exceed our
fees. Approach Aurora provides its clients with
clear, concise and objective analysis of the core
issues and the facts surrounding
them. Professionalism Aurora professionals are
committed to the highest level of integrity and
business ethics. Senior Level Attention An
Aurora partner or director will lead every
engagement. Our Capabilities Engagements
Aurora has the professionals and the experience
to handle assignments from the simple and
straight-forward to those involving multifaceted,
complex, and diverse strategic, operational and
financial issues in most industries. Professional
Staff The Aurora team is comprised of
experienced senior professionals who possess the
experience, knowledge, skills, and integrity that
make the difference when addressing challenging
assignments.
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Our Service Areas
Business Consulting Services
Creditor Services
Investor Services
Corporate Governance Advisory

• Asset Sale or Acquisition
• Business Plan Preparation
• Business Strategy
• Business Valuation
• Chapter 7/11 Management
• Finance Negotiation
• Interim Management
• CEO/CRO/COO/CFO
• Litigation Support
• Operational and Financial
• Restructuring
• Operational Performance and Process
  Improvement
• Viability Assessment
• Working Capital and
• Cash Flow Management

• Borrower Viability and
• Collateral Assessment
• Chapter 7/11 Advisory
• Debt Recovery
• Forbearance and Loan
• Restructuring Due
• Diligence
• Interim Management
• CEO/CRO/COO/CFO
• Litigation Support
• Forensic Accounting
• Liquidation Services
• Pre-Funding Due
• Diligence

• Acquisitions
• Divestitures
• Exit Strategies
• Equity Sourcing
• Interim Management
• CEO/CRO/COO/CFO
• Investment Assessment
• Investment Due Diligence
• Litigation Support
• Mergers
• Refinancing Sourcing

• Audit Committee
• Advisory and Training
• Board of Director
• Advisory in the Zone of
• Insolvency
• Due Diligence for
• CEO/CFO Compliance
• Sarbanes Oxley review

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Our Philosophy Its Not Just Financial

• There are three major components to any change
  solution
• Financial Debt Refinancing, Equity Infusion,
  Cash Management, Financial Restructuring
• Operational Improved Productivity, Asset
  Redeployment, Cost/Process Controls, Improved
  Management
• Strategic Product Positioning, Market Niches,
  Growth, Consolidation, Exit

Too often companies focus on the wrong change
solution or think that employing just one of the
components is all that is necessary. For example,
a financial restructuring may provide temporary
relief but without operational improvements and
strategic changes the business usually slides
back into underperformance and financial
distress. Likewise, operational improvements may
return the firm to profitability, but without
changes in strategic direction the business will
continue to experience sub-optimal profitability.
The principals of Auroras experience in all
three of these strategies provides you with a
comprehensive solution that delivers long-term
rehabilitation.
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Our Approach

• Our methodology allows us to employ the
  appropriate strategy based on the unique needs
  and characteristics of each engagement
• Our experience and insight enable us to uncover
  problems and opportunities quickly thereby
  eliminating costly delays and revisions and our
  goal is to bring immediate value to every
  engagement.
• Each engagement is managed by a firm principal
  who follows an agreed upon workplan and remains
  actively involved in all phases of the engagement
  through to completion to ensure client
  satisfaction and a consistent agenda.
• Deliverables are tailored in the appropriate
  medium to precisely meet the needs of the
  audience, whether management, creditors,
  investors or directors.

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Our Approach
The Aurora Financial Management Tool Aurora uses
internally developed financial models that
integrate the macro budgeting process with micro
cash management. These models are based on the
concept that a finite amount of resources are
available to the company with which to fund the
change process. How these resources are utilized
will impact the outcome both during a short-term
13 week period cash management period and years
into the future. Historical and projected
balance sheets, income statements and borrowing
bases are automatically updated weekly with
actual figures providing immediate and
transparent feedback to concerned parties.
Working capital management is enhanced with
detailed modeling of receipts and disbursements
based on historical data.

• Model Components
• Assumptions
• Income Statement
• Balance Sheet
• Borrowing Base
• Funds Availability
• Cash Receipts
• Cash Disbursements
• Sales COGS Forecast
• Operating Expenses
• Wages Related Expenses

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Our Professionals

• Advanced Education All of our professionals
  hold advanced degrees and/or professional
  certifications, are highly experienced and
  possess a deep knowledge of management and
  turnaround situations.
• Exceptional Leadership - Aurora principals have
  over one hundred years of combined relevant
  experience and have held CEO/COO/CFO or other
  leadership positions at numerous private and
  public companies.
• Proven Track Record Aurora professionals have
  successfully completed over 200 engagements in a
  diverse group of industries.
• Experienced Negotiators The Aurora professional
  is skilled at understanding and reducing key
  problems to manageable issues which assists in
  achieving acceptable resolutions whether with
  lenders, unsecured creditors, investors or other
  stakeholders.
• Professional Commitment Aurora partners have
  significantly influenced the development of the
  program for designating Certified Turnaround
  Professionals (CTPs), currently chair committees
  responsible for CTP advanced education, and have
  aided in the development of both the Turnaround
  Management Association and the Association of
  Certified Turnaround Professionals.

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Our Executive Management Team
Charlie Soule Chairman Emeritus
Ron Turcotte CEO Managing Partner
David Baker Senior Managing Director
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Our Executive Management Team

• Charles A. Soule, CTP, Chairman Emeritus, Winter
  Haven, FL
• Charlie Soule is a well known turnaround
  management consultant with over 30 years of
  relevant experience. He is a co-founder of
  Aurora Management Partners (2001) after serving
  as partner and president of other turnaround
  firms around the country. He has provided
  high-level management and leadership for
  companies across many industries desiring
  emphasis in revitalization, downsizing and
  streamlining, revised corporate strategy, crisis
  management, workouts, turnarounds or
  divestitures. Particular strengths come from
  hands-on experiences in former corporate
  positions and turnaround situations. Mr. Soule
  is active in the Turnaround Management
  Association, a recognized Certified Turnaround
  Professional, has an M.B.A. with Distinction from
  Harvard University (1969) and a B.A. from Yale
  University (1963).
• Past roles have included consultant with
  specific assignments to boards of directors or
  presidents, member of the board of directors,
  interim CEO or CFO, and other general management
  positions.
• Specific tasks have included risk assessment and
  valuation of firm and firms objectives,
  implementation of financial controls and
  management, strategic re-focusing, operational
  and manufacturing improvements, sales and product
  realignment, business plan development, assisting
  in obtaining new financial resources, systems
  downsizing, and selling or divesting business
  units.
• Extensive experience and success with confirmed
  plans in Chapter 11 reorganizations approval in
  courts in North Carolina, New Jersey, Virginia,
  Georgia, Tennessee, Texas, Alabama, and Florida.
  These situations have included financial and
  operational restructuring, creditor assessments,
  workouts, negotiations, and loan restructurings,
  as well as operational and organizational
  strategy development.

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Our Executive Management Team

• Ron Turcotte, CEO Managing Partner, Atlanta, GA
• Ron leads the firms hands-on, results-oriented
  approach to turnarounds, workouts and
  divestitures. As a native of Canada and prior to
  his immigration to the US in 1983, Mr. Turcotte
  was heavily involved in the deregulation of the
  Canadian Telecommunications Industry as a sitting
  member of the Canadian Radio and
  Telecommunications Commissions (CRTC)
  sub-committee, regarding terminal attachment. He
  was also Treasurer of the National Association of
  Interconnect Equipment Providers. During this
  period, he assisted a group of investors with the
  acquisition of substantially all of the assets of
  a Canadian Telecom company that was forced into
  receivership by a Canadian bank.
• Ron has led numerous out of court restructurings
  throughout the US within the retail,
  telecommunications, distribution, manufacturing
  and construction sectors. He has also applied his
  expertise to assist with the Chapter 11 process,
  as Financial Advisor or Chief Restructuring
  Officer, of a Tennessee based convenience store
  chain and petroleum products distributor a
  California based electronic traffic controls
  manufacturing company a Georgia based automotive
  parts foundry a New York based outdoor
  advertising company a Virginia based retailer of
  patio furniture, spas and pool chemicals a
  Georgia based auto transport company and a
  Florida based cellular equipment manufacturer.
• He is presently on the Board of Directors of a
  Tennessee based private company that designs,
  manufactures, imports and distributes various
  automotive aftermarket products. Mr. Turcotte has
  spent nine years on the Board of Directors of the
  Southeast Chapter (Atlanta) of the Turnaround
  Management Association and is a Past-President of
  the Chapter. He also spent two years on the
  National Board of Directors of the TMA. He is
  currently an active member of the American
  Bankruptcy Institute, the Atlanta Venture Forum
  and the National Funding Association.

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Our Executive Management Team

• David Baker, CPA, Senior Managing Director,
  Charlotte, NC
• David is the Managing Director of Aurora
  Management Partners and has played a major role
  in helping the firm expand to include offices in
  Atlanta, Charlotte and Cleveland. He has been
  heavily involved with the firms bankruptcy
  practice handling cases in California, New
  Hampshire, Florida, Georgia, North Carolina,
  Virginia and Ohio. He has been engagement as
  Financial Advisor to the Debtor and to the
  Official Creditors Committee as well as Chief
  Restructuring Officer of the Company.
• David graduated from the University of North
  Carolina at Chapel Hill in 1977 with a B.S. in
  Accounting and subsequently earned his CPA
  certificate. From 1977 until 1985 he worked with
  national accounting firms. In 1985, he left
  public accounting to manage a multi-state textile
  manufacturer headquartered in North Carolina.
  Then in 1997 he began his turnaround career with
  an engagement at a troubled textile business.
• Since joining Aurora Management Partners in 2000,
  David has managed a wide variety of both
  turnaround and bankruptcy consulting engagements.
  He has managed workouts and divestitures across
  several industries including steel fabrication
  and stamping, tier one and tier two automotive
  suppliers, tool and die manufacturers, textiles,
  safety equipment distribution, appliance
  manufacturing, agriculture and food service.
  David also has extensive experience in China
  managing several assignments on the mainland,
  including the negotiation of a joint venture
  between a U.S. manufacturer and a large
  automotive producer. His debtor engagements
  include working capital management and
  assessments, debt reorganization, viability
  assessments and asset sales and acquisitions.

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Our Executive Management Team

• David Baker, CPA, Senior Managing Director,
  Charlotte, NC (cont.)
• In addition to his consulting duties, David has
  served as the interim CFO/COO of a 175
• million integrated citrus producer and as the
  interim CFO of a 75 million appliance repair
• and parts manufacturer. He has also represented
  several secured creditors in debt recovery
• engagements.
• In 2005, Aurora received the Turnaround
  Management Associations prestigious
• National Turnaround of the Year Awards for his
  work in the Summitville Tile bankruptcy
• case in Northern Ohio. He has also received
  several regional awards for other cases. David
• maintains his CPA and is a board member of the
  Carolinas TMA Chapter. David resides in
• Hickory, NC with his wife and three children.

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Our Directors
Dennis Gerrard Managing Director
John Palmer Managing Director
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Our Directors

• Dennis M. Gerrard, Managing Director, Naples, FL
• Dennis brings over 20 years of senior management
  experience to Auroras clients, which includes
  President, CEO, COO and other executive level
  positions. He also brings an extensive background
  in turnaround and crisis management with
  considerable experience in restructuring
  businesses to operate in cash-constrained
  environments, reducing manufacturing overhead and
  SGA, renegotiating debt and taking companies
  through Chapter 11 bankruptcy proceedings. His
  diverse category experience includes consumer
  products, garments and textiles, automotive,
  paper and packaging, telecommunications, plastics
  and distribution and logistics. Plus, he has
  successfully led the sale of eight different
  companies throughout his career, including
  Section 363 and Article 9 transactions. 
• Prior to joining Aurora, Dennis was a Turnaround
  Consultant with CRG Partners for six years and
  before that with Horizon Advisors for two years
  where he served as interim CEO of two companies,
  developed and implemented profit improvement and
  reorganization plans, recruited and installed
  permanent management, acted as Financial Advisor
  to the debtor in Chapter 11 foreclosure
  proceedings and developed a profit improvement
  plan for a manufacturer of telecom equipment. 
• His most recent assignment was as interim CEO of
  a 100 million, multi-division apparel company
  where he assumed control of the company after a
  failed sale and then developed and implemented a
  revised strategy which ultimately yielded over 3X
  the prior valuation. 
• Mr. Gerrard has also been interim CEO of a 100
  million multi-plant plastics producer, financial
  advisor to a 100 million garment manufacturer,
  court-appointed President and COO of a leading
  storage products manufacturer, Interim CEO of a
  decorative packaging company and Interim CEO of a
  packaging products manufacturer. Dennis received
  his Bachelor's degree from St. Mary's College,
  Moraga, California.

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Our Directors

• John L. Palmer, Managing Director, Philadelphia,
  PA
• John brings extensive management experience to
  Aurora with over twenty-three years serving in
  both senior executive and turnaround management
  roles for a wide variety of middle-market
  companies involved in retail, manufacturing,
  electronics, printing, healthcare, biotechnology,
  services and high-tech.
• Prior to joining Aurora, Mr. Palmer was with
  NachmanHaysBrownstein for 8 years where he led
  NHBs turnaround teams on more than forty
  assignments across a diverse group of mid-market
  companies. Recent engagements include serving as
  Montgomery Wards Plan Administrator in charge of
  the largest retail liquidation in US history, as
  the Chief Administrative Officer of Verso
  Technologies, Inc. and as the Chief
  Administrative Officer of Norstan Apparel Shops,
  Inc. d/b/a Fashion Cents. He has also served as
  the Chief Restructuring Officer of Craft Machine
  Works, Inc., and as an advisor to a New
  York-based nursing home chain and a specialty
  lumber distributor.
• In addition, he has served in many executive
  management positions and brings extensive
  bankruptcy experience to Aurora that includes a
  preference investigation for a creditors
  committee, serving as the restructuring
  consultant for The Museum Company, both before
  and after its Chapter 11 filings, and serving as
  the Chief Restructuring officer during a dotcom
  liquidation.

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Our Directors

• John L. Palmer, Managing Director, Philadelphia,
  PA (cont.)
• Upon completion of his Ph.D., Dr. Palmer began
  his career as a member of the faculty of Harvard
  Medical School and the Massachusetts General
  Hospital Diabetes Unit, where he authored the
  first of his twelve U.S. patents. He moved to
  the biotechnology industry in the early 80s,
  where he commercialized one of the industrys
  first recombinant products at Repligen
  Corporation. Dr. Palmer then founded Enzymatics,
  Inc., where he raised three rounds of venture
  capital funding and led the company through an
  IPO. Enzymatics developed and commercialized the
  first FDA-approved quantitative saliva
  diagnostic. During this time he had 18 scientific
  papers published in peer-reviewed journals.
• Dr. Palmer has a BA in Chemistry from the
  University of California at San Diego and a Ph.D.
  in Biochemistry from Brandeis University. He is
  a Certified Turnaround Professional and a member
  of the Turnaround Management Association, the
  Association for Corporate Growth and the American
  Bankruptcy Institute. John and his wife Madhuri
  Malkani, have three sons, Jacob 19, Kavi 9 and
  Shaan 6 and he enjoys spending time with his
  family, woodworking and rooting for the Eagles.

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Our Directors
Jim Ebbert Director
Chip AuWerter Managing Director
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Our Directors

• Jay P. Chip AuWerter, CTP, Managing Director,
  Cleveland, OH
• Chip joined Aurora Management Partners in 2007 as
  a Director to manage our Cleveland office and
  serve Auroras growing client base in the Great
  Lakes Region.
• Prior to joining Aurora, Mr. AuWerter was with
  Glass Associates in New York and most recently
  with The Pearce Group in Cleveland where he was
  Managing Partner with responsibilities for a
  variety of operational turnarounds and
  restructurings. Chip is a respected turnaround
  professional and a Cleveland native, and hell
  give Aurora an even stronger presence in this
  market area as well as the ability to effectively
  serve our growing list of middle market clients
  in the healthcare, automotive and other
  manufacturing industries. Chip is an impact
  player and brings proven leadership skills to
  Auroras clients.
• Mr. AuWerter has held a variety of management
  positions with various companies, including CEO,
  COO, CFO and CRO and has conducted
  business/operational assessments for over 25
  companies. In addition, he brings the added
  experience to Auroras clients from his work with
  Booz, Allen Hamilton where he was a Management
  Consultant and with Ford Motor Company where he
  was a Product Line Manager and Senior Product
  Planning Analyst. Chip is also a CTP (Certified
  Turnaround Professional) and an active member of
  the Ohio Chapter of the Turnaround Management
  Association.

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Our Directors

• Jim Ebbert, CTP, Director, Rockland, ME
• Jim joined Aurora Management Partners in 2008 to
  manage and grow our client base in the Northeast
  market.
• Mr. Ebbert joined Aurora from the McShane Group
  and prior to that he was with Allomet Partners.
  He is a seasoned turnaround professional and a
  New England native who will be able to quickly
  help Aurora expand its account base in the
  Northeast while effectively supporting Auroras
  growing national client base.
• Jim is a CTP with proven leadership skills and
  has been a turnaround professional for the past
  18 years helping a variety of companies develop
  and implement operational and financial
  restructuring plans. His experience includes
  viability analyses, business plan assessments,
  cash-flow modeling and forecasting, out-of-court
  vendor management and restructuring, forbearance
  agreement negotiations, AR management and
  organizational restructuring. Plus, he has
  extensive bankruptcy experience and has served as
  court-appointed receiver for several companies as
  well as managing the orderly liquidations of both
  company divisions and entire companies.
• Mr. Ebbert graduated magna cum laude from
  Bucknell University with a Bachelor of Science
  degree and holds his MBA, with distinction, from
  the Johnson Graduate School of Business at
  Cornell University. He is a past director of the
  Association of Turnaround Professionals and
  active in both the Portland, Maine and Boston
  TMAs.

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Our Directors
David Houseman Director
Patty Missal Director
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Our Directors

• Patricia Missal, CPA, Director, Cleveland, OH
• Ms. Missal brings over twenty years of
  professional experience to Auroras clients,
  specializing in interim management, financial
  advisory services, and restructuring services.
  Plus, her experience spans a wide range of
  industries, including construction,
  manufacturing, healthcare, energy, distribution
  and software. Prior to joining Aurora, Ms. Missal
  was a principal at Bridge Associates LLC for two
  years where her engagements included conducting
  due diligence on a potential acquisition for a
  large private equity fund, being a member of the
  restructuring team and interim Chief Operating
  Officer for a consumer products company and
  handling a court sanctioned auction for an acute
  care hospital.
• Prior to that she served as a Principal for
  Newmarket Partners, LLC., where she provided
  services as Chief Restructuring Officer, worked
  as advisor on several sale engagements (both in
  and out of bankruptcy settings), and performed
  forensic accounting and investigation services.
• She has also worked for four years as CFO with
  Yen Enterprises, Inc., a 40 million family of
  companies specializing in steel components and
  manufacturing where she was primarily responsible
  for overseeing day-to-day financial matters and
  bank relations and negotiations. She also
  developed and implemented a turnaround plan with
  vendors and lenders, allowing production of goods
  and company operations to continue for a period
  of nearly three years.
• Ms. Missal is a member of the American Institute
  of Certified Public Accountants, the Ohio Society
  of Certified Public Accountants, and
  International Womens Insolvency and
  Restructuring Confederation. She received her
  Bachelor of Science in Accounting from Ashland
  University and a Masters of Business
  Administration from Cleveland State University.

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Our Directors

• David E. Houseman, CPA, Director, Chattanooga, TN
• Dave Houseman has been a turnaround consultant
  for various periods since 1987 with his own firm,
  Houseman Associates, Inc. prior to joining
  Aurora in 2001. Dave has held executive
  positions since 1991 including Chief Executive
  Officer of a publicly traded apparel company and
  several Chief Financial Officer and Chief
  Operating Officer roles. He also has extensive
  financial experience serving as Vice President of
  Finance, Controller and senior auditor for many
  different organizations.
• Dave has recently advised the CEOs of metal
  working, consumer products, transportation and
  consumer packaging companies on general business
  problem management and analysis of business
  growth or sale opportunities. He has held CPA
  certification in three states, an office with the
  Financial Executive Institute and been appointed
  to several boards of directors. Mr. Houseman
  received his B.S. in Commerce from the University
  of Virginia-McIntire School of Commerce.

26
Our Directors
Andy Barbee Director
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Our Directors

• William A. (Andy) Barbee, CPA/ABV, CIRA,
  Director, Charlotte, NC
• Mr. Barbee has more than 18 years experience
  advising companies and managing engagements that
  involve bankruptcy, divestitures, acquisitions,
  business valuation, and fraud investigation. In
  addition, he has extensive hands-on experience
  working with debtors and creditors in bankruptcy
  matters that includes everything from viability
  analysis, divestiture of assets and closing
  facilities and operations to business valuation,
  insolvency and preferential/fraudulent
  conveyances.
• Andys brings a diversity of business expertise
  to Auroras clients because he has served clients
  in a wide variety of industries that includes
  textile, machinery and equipment, automotive
  parts and steel manufacturers, distribution,
  insurance, construction, real estate, technology
  and automotive, heavy equipment and hardware
  retailers.
• As a member of the Financial Advisory Services
  practice of Coopers Lybrand for five years he
  helped a 100 million textile manufacturer
  through the bankruptcy process, including selling
  off a foreign subsidiary, closing one plant and
  determining which business lines to exit.
• In addition, Andy has been controller of a 40
  million manufacturer where he assisted in
  obtaining new financing and implemented a new
  information system that reduced financial
  statement preparation time from 90 to seven days
  and was interim CFO for a 100 million
  multi-location automobile dealer in bankruptcy
  where he closed two unprofitable locations and
  sold a used car location and a franchised new car
  location for 2.6 mm more than their collateral
  value.
• Most recently, Andy has worked in the Economic
  Advisory Services (EAS) practice of Grant
  Thornton. The EAS practice assists clients in
  bankruptcy, business valuation, fraud
  investigations, and litigation support. When he
  was hired, the group had one person and less than
  100,000 in revenues. Over his six years with
  the firm, Andy was integral to growing the EAS
  practice to over 6 million in revenues and 25
  professionals.
• Andy is a director and past president of the
  Turnaround Management Association, Carolinas
  Chapter director and finance committee chair for
  the Childrens Law Center and treasurer of the
  FBI Citizens Academy Alumni Association.

28
Our Consultants
Lynn Huras Senior Consultant
Richard Kennedy Senior Consultant
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Our Consultants

• Richard Kennedy, Senior Consultant, CTP,
  Charlotte, NC
• Richard is a senior consultant with Aurora
  Management Partners in Charlotte, NC and brings
  more than
• Twelve years of consulting experience to Auroras
  clients. He has assisted companies with a wide
  range of
• operational, financial and strategic issues
  including out of court restructurings,
  bankruptcies, liquidations,
• viability and insolvency analyses, acquisitions
  and divestitures.
• Richard has been engaged by many family-owned
  businesses, equity and venture capital investors,
  and both
• traditional and non-traditional lending
  institutions. He draws on engagement experience
  across many
• industries including light and heavy
  manufacturing, distribution, construction,
  agriculture, beverage, oil and
• gas, utilities and automotive.
• Prior to joining Aurora, Richard was a member of
  the Corporate Strategy Consulting Practice with
• PricewaterhouseCoopers in Chicago where he
  focused on developing short and long-term
  strategies based on the
• ideal combination of improved profitability and
  value accretive growth. He assisted in creating
  and
• implementing process improvements, analyzing and
  reducing excessive cost centers, and performing
  asset
• portfolio analysis to identify value destroying
  areas of the clients business. This also
  involved numerous

30
Our Consultants

• Lynn Huras, Senior Consultant, Toronto, Canada
• Lynn has spent the last 20 years in both
  executive positions and hands-on management
• roles for a diverse group of public and private
  companies. While her roots are in financial
• management and financial operations, she also
  has extensive experience in strategic
• planning and business and product development
  bringing new products and services to
• market.
• Lynn has a unique ability to quickly analyze a
  business, determine needs, conceptualize
• solutions and implement a broad-based plan of
  action. In addition, she is highly proficient
• at streamlining business processes, systems and
  procedures and managing the
• restructuring of individual departments or
  entire organizations.
• Ms. Huras is a current member of the Turnaround
  Management Association, Toronto
• Chapter and has been with Aurora since 2004.

31
Our Consultants
John Leiti Consultant
Steve Smerjac Consultant
32
Our Consultants

• Steve Smerjac, Consultant, Atlanta, GA
• Steve joined Aurora Management Partners as a
  finance and operations consultant. Steves
  specialty is working with turnaround management
  situations that require detailed analysis and the
  implementation of fiscal, operational and risk
  management strategies. Applying over 14 years of
  experience in business operations, financial
  analysis, portfolio management and due diligence,
  Steve works closely with Auroras clients to
  identify their unique goals and develop solutions
  that will effectively improve client profits and
  bottom-line productivity.
• He has acted as an interim CFO for two clients,
  enabling them to successfully navigate a critical
  change management period. He has productively
  restructured operational processes for numerous
  clients working in the manufacturing sector and
  provided warehouse and delivery accounting
  structures to maximize clients operations and
  revenue gains.
• Steve helps our clients gain a competitive edge
  through comprehensive analysis, development and
  implementation of productive solutions and a
  genuine dedication to helping Aurora clients
  achieve their specific business, financial and
  operational goals.

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Our Consultants

• John Leiti, Consultant, Atlanta, GA
• John has been involved primarily in corporate
  finance, strategic planning, financial and
  operational restructuring, and bankruptcy
  litigation for over 17 years. He has been a
  lead advisor in operational reorganizations,
  financial restructurings, mergers and
  acquisitions, turnarounds, loan workouts and
  Chapter 11 bankruptcy proceedings.
• John has also served in a variety of roles with
  businesses and their counsel ranging from
  financial advisor to serving as on-site
  turnaround manager or in interim management
  positions. In addition to his experience as a
  service provider, he has also acted as Chief
  Financial Officer and Chief Restructuring
  Officer. His experience crosses a spectrum of
  industries including manufacturing, distribution,
  telecommunications and financial services with
  extensive experience in the healthcare industry.
  
• Mr. Leiti holds a Bachelor of Science Degree in
  Accounting and Business Administration. He is a
  member of the Turnaround Management Association
  and Association of Insolvency and Restructuring
  Advisors.

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Our Consultants
Jason Shulick Analyst
Shane Sparks Consultant
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Our Consultants

• Shane Sparks, Consultant, Chattanooga, TN
• Shane is a pro-active and results-oriented
  individual with broad experience in financial
  management, financial analysis and operations.
  He most recently completed an assignment
  overseeing financial management and operations
  for a medium-sized automotive aftermarket
  manufacturing company with extensive operations
  in China. He also fulfilled the CFO duties for a
  real estate company as well as asset management
  of a financial capital company.
• In addition, Shane has extensive experience in
  the franchised food service industry and has
  served as Finance Manager/Controller for an
  Atlanta-based restaurant group with over 4,000
  employees and multiple food service concepts.
  This experience is currently being utilized in a
  Florida Bankruptcy of a chain of TGI Fridays
  Restaurants where Shane is responsible for over
  23 monthly operating reports and cash flow
  reports.
• Shane has a Bachelors degree in Political Science
  with a minor in Finance from Georgia Southern
  University.

36
Our Consultants

• Jason Shulick, Analyst, Atlanta, GA
• Jason has a diverse financial background with
  extensive experience in financial assessment and
  analysis and strategic business planning. His
  primary focus on behalf of Auroras clients is
  providing detailed operational and financial
  analysis and planning support to clients
  requiring turnaround management services.
• Prior to joining Aurora Jason had his own
  consulting firm providing strategic business,
  financial, and tax planning services to companies
  in a variety of industries. He has also worked
  for a division of Cox Enterprises called Manheim,
  which is the worlds largest auto-auction company
  where he was the corporate liaison for all their
  international auctions and their North American
  non-auction businesses such as Dent Wizard and
  Manheim Automotive Financial Services. These
  businesses generated over a half billion dollars
  in annual revenue and his responsibilities
  included the monthly review and analysis of each
  business units financials, strategic planning
  and new business development initiatives.
• Mr. Shulick has also worked for
  PricewaterhouseCoopers, LLP and Ernst Young,
  LLP where he handled a variety of consulting
  projects for clients such as International Paper,
  Blockbuster, Vanguard, and Halliburton. Jason is
  a registered CPA in the state of Texas and is a
  member of the Atlanta Turnaround Management
  Association. He holds a Masters of Professional
  Accountancy degree from The University of Texas
  at Austin and a B.S. from Clemson.

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Our Resources

• Affiliate Networks Aurora maintains a strong
  relationship with other professional
  organizations to augment our professional needs
  in specific areas of expertise. These include
  the following

• Financing Sources
• Asset-based Lending
• Banking Facilities
• Mezzanine Capital
• DIP Financing
• Acquisition Sourcing
• Business Valuation
• Industry Specialists
• Liquidation
• Appraisals
• Auctions

• Equity Investors
• Working Capital
• Growth Capital
• Angel Investors
• Human Resources
• Outplacement
• Erisa
• Management Recruitment
• Attorneys
• Merger Acquisitions
• Corporate
• Bankruptcy

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Our Credentials - Industry Experience

• Industry experience may be important but not
  compelling when seeking to engage outside
  professionals to provide assistance in times of
  change. Todays business challenges crossover
  industry lines. Applying the insights and
  knowledge developed in other industries can prove
  to be a significant advantage. Most industries
  are constantly changing so specific industry
  knowledge becomes out-of-date quickly. In some
  cases too much industry experience can put
  blinders on someone so that they may miss certain
  critical nuances that are of great importance to
  that particular client.
• The experience that is really required is the
  ability to analyze a clients situation from the
  top down and from the bottom up, and to then
  develop practical solutions quickly and
  accurately. The Aurora team uses its broad
  business experience along with its specific
  industry expertise to isolate the key performance
  drivers and the relevant strategic and financial
  issues at each client. The solution that
  addresses that unique situation flows from this
  analysis an may often involve thinking outside
  the box.
• Following on the next page is a partial listing
  of the industries in which we have worked and the
  types of companies we have helped survive a
  myriad of business struggles.

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Our Credentials - Industry Experience

• Manufacturing
• Aerospace and Defense
• Automotive
• Parts
• Trucks
• Chemical Fertilizer
• Doll And Toys
• Electronics
• Injection Molding
• Leather Tanning
• Marine Products
• Office Equipment
• Paint
• Pump
• Specialty Products
• Plastics
• Precision Metal
• Signage Products
• Scrap Recycling Plants

• Service
• Agriculture and Farming
• Citrus growing
• Cotton Processing
• Dairy farming
• Onion Growers
• Construction-Residential and Commercial
• Defense Contracting
• Education
• Forestry
• Food Processing
• Food and Juice
• Soft Drink Bottling
• Hotel/Motel Chains
• Insurance Restoration
• Mining/Earthmoving
• Pest Control
• Printing
• Trucking

• Distribution
• Automotive Parts
• Fuel and Lubricants
• Construction
• Doors and Windows
• Heavy Equipment
• HVAC
• Lumber Building Material
• Golf Course Supplies
• Office Equipment
• Plastic Sheet Goods
• Signage Systems
• Truck
• Distribution/Leasing
• LTL Hauling
• HealthCare
• Home Health
• Hospitals

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Our Credentials
Consulting and Financial Advisory Engagement
Summaries
Financial and Operational Consulting and
Restructuring
Viability Analysis and Restructuring
Assessment and Workout Plan
60 Million Integrated Communications Company
40 Million Fully Integrated Citrus Operation
175 Million Food Service Distributor
Developed system to assess applicability and
value of various restructuring and operational
improvements that were determined by the
companys management team. Provided detail
projections for operations and financing to take
into account seasonality of cash flows and need
to restructure debt service to match projected
seasonal fluctuations. Provided detail report to
Board and lenders.
Stabilized business first by evaluating business
lines and implementing successful cash management
program. Identified five core business lines and
shed seven non-core businesses. Reduced headcount
by two-thirds while maintaining output.
Renegotiated loans reduce current debt service
while maintaining collateral security.
Successfully renegotiated long-term debt. Created
strategic plan focusing on key components.
Provided the Board of Directors with a complete
assessment of operations, management, financial
performance, and strategic positioning. Prepared
detailed financial and operating projections with
several scenarios as alternatives. Recommended
complete restructuring and consolidation of
operations, divestiture of non-core assets, and
restructuring of remaining debt. Recommendations
were accepted and acted upon.
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Our Credentials
Interim Management Engagement Summaries
Workout and Interim Management
Financial Advisory Interim Management
Financial Advisory, Operations Improvements and
Interim CFO
24 Million Casual Dining Restaurant Chain
150 Million Integrated Agriculture and Food
Service Company
75 Million Appliance Parts Manufacturer
Distributor
Improved operating profitability by 3 million
within 6 months. Focused on weekly operations,
better hiring and training of employees, and
employee incentive programs. Evaluated all
locations and closed unprofitable and non-core
operations. Assisted with successful Chapter 11
process, lender negotiations, valuations, and
sale of profitable ongoing business, thereby
doubling the return of capital to creditors from
that which had originally been anticipated.
At the beginning of this engagement the company
was losing approximately 22 million per year.
Through turnaround work as interim CFO and as an
advisor to management, the company was on track
to generate 4 million in operating profit and
meet all debt service requirements. Managed the
company into Chapter 11 process to satisfy senior
lender requirements.
Assumed control of working capital management as
acting CFO to stabilize cash flows and
re-establish relationships with secured lender as
well as trade creditors. Developed and installed
plan to generate 2.4 million in free cash flow
within six months. Provided Board with enough
time to negotiate sale of company as a continuing
operation.
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Our Credentials

• Select Additional Engagements
• 200 Million Oilfield Services Company
  Contracted for interim management as CFO.
  Developed financial reporting and cash management
  systems enabling the company to grow from 20
  million to 200 million. Orchestrated several
  divisional startups. Instrumental in selling the
  company to a group of investors for 214 million.
• 110 Million Safety Equipment Distributor
  Prepared assessment and evaluation of multi-state
  warehousing operation. Restructured financial
  and operational reporting system. Orchestrated
  consolidation of operations and subsequent
  closing of 12 branches with no degradation in
  customer service. Implementation of plan
  resulted in a return to profitability and
  positive cash flow.
• 110 Million HVAC Distribution Service Company
  Provided turnaround consulting and management
  succession planning and implementation which led
  to a successfully reorganized company within 18
  months. Accomplished outside the bankruptcy
  process.
• 55 Million Steel Processing Company Provided
  interim management during a going-concern
  liquidation of a steel processing plant. Efforts
  resulted in a 200 increase over the original
  projected recovery by the secured parties.
• 25 Million Pressure-Vessel Manufacturing
  Company Provided assessment and interim
  management for an international company involved
  in boilers and pressure vessels. This led to a
  reorganization of the company and optimization of
  financial performance The business was sold
  under Section 363 of the Bankruptcy Code.
• 24 Million Mail Order and Agricultural Producer
  Contracted to advise a sole proprietorship in
  Chapter 11. Prepared financial and operational
  projections, developed strategic planning model,
  effected change within the organization to
  achieve positive cash flows, negotiated with
  secured lenders and obtained D-I-P crop loan.
  The business was successfully reorganized and
  emerged from Chapter 11.

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Our Contact Information

• Website www.auroramp.com
• Headquarters Ron Turcotte, Managing Partner
• email rturcotte_at_auroramp.com
• 4485 Tench Road
• Suite 340 Atlanta, GA 30024
• Tel [phone] Fax [phone]
• Offices in Charlotte, Cleveland, Philadelphia
  Toronto