2. SWISSAVENUE
S
Partners
Swiss Avenue Partners is a specialist in pre-transactional consulting and training
for privately held companies where the owners are considering;
Merger
Acquisition
Business Sale
Succession
The focus of each assignment is to maximize the Total Enterprise Value (TEV).
What is the deliverable?
We have our own Intellectual Property of standardized tools, processes, software and
training that is customized into a program for each client. The Swiss Avenue Partners
team then works with the company to implement and integrate these components into
their business.
Why engage Swiss Avenue Partners?
Our clients are hard working, intelligent people who seek to leverage the value of their
biggest asset: their business.
Whether it’s; a) selling the business to outsiders; b) transitioning ownership to the
management team or family members or; c) seeking expansion through merger or
acquisition, a fundamental element will be establishing a value for the enterprise and
determining the terms of the transaction.
When “the number” being quoted for their enterprise is lower than expected or the
transaction terms seem unreasonable (such as an extended “earn-out”), the Swiss Avenue
Partners tools and program approach are a proven solution.
What’s the outcome?
The goal is to increase the profitability and marketability of a company. The industry
measure for this is Total Enterprise Value or TEV.
The Swiss Avenue Partners products and services are designed to identify, correct and
manage the most important elements that will hinder a maximized TEV.
In many cases, this positive change is measured in hundreds of thousands or even
millions of dollars.

3. TEV = EBITDA x MoE
What is Total Enterprise Value (TEV)?
Consider two similar sized houses for sale in a neighborhood. Even though they are equal in terms of
bedrooms, bathrooms and garages, the likely sale price will differ based on the appeal of other tangibles
such as landscaping, kitchen layout, color scheme etc. So too with business.
Simply speaking, if the “curbside appeal” of a company is high, the transaction value it attracts will also
be improved.
TEV is a figure that represents the “fair” price that would be paid if the company were to be acquired that
includes the value for goodwill. It is the “saleable” value and a more accurate estimate because it includes
elements that go beyond simply adding up the assets minus liabilities. The formula is TEV=EDITDA x MoE where;
EBITDA is Earnings (or Net Profit) Before Interest, Tax, Depreciation & Amortization
This is the “bottom line” and although there are some variations and interpretations, accountants, banks,
financiers and business owners can easily agree on how to calculate EBITDA for any given period (month or
year) and it is reflected and managed on the P&L and Balance Sheet.
MoE is the Multiple of Earnings factor
There are 20+ components, including a number of subjective ones (like “strength of management”) that have
an impact on determining the correct multiple. For a private company, the likely range is somewhere between
2.5 and 8. Although it can be higher, this is rare and definitely an exception.
Here are two companies with the same revenue;
EBITDA MoE TEV
(EDITDA x MoE)
Company A $700,000 5.5 $3.5m
A small increase in EBITDA
Company B $1,000,000 6.5 $6.0m and a better MoE has a
dramatic effect...
Difference $300,000 1.0 $3,000,000 ‹
Company B is worth almost twice that of Company A, even though their sales are identical
and there is only a $300,000 difference of EBITDA!

4. CASE STUDY
Swiss Avenue Partners was engaged in March 2008. The
owners were contemplating a sale of the business. Their
anticipated MoE was 3.5 - 4.0
Increased sales is an element in valuing a business, but it’s not
the key component
Quarterly Transportation & Logistics
Revenue
SWISSAVENUE
Partners
From the commencement of the assignment,
Revenue grew approximately 10%
Q1’07
Q3’07
Q1’08
Q3’08
Q1’09
Q3’09
The industry average EBITDA is below 7% and this business is
now exceeding 12% on an annualized basis.
Profit growth is dramatic
Net profit
Profit grows during this same period
by over 13%
‹
SWISSAVENUE
Partners
Q1’07
Q3’07
Q1’08
Q3’08
Q1’09
Q3’09
Increased profitability, metrics, together with new manage-
ment initiatives and processes significantly improved the MoE
and attractiveness of the enterprise
A positive Valuation effect
With improved EBITDA and MoE Market Value
metrics, the impact is dramatic $7,900,000 ‹
SWISSAVENUE
Partners
$3,300,000
Q1’07
Q3’07
Q1’08
Q3’08
Q1’09
Q3’09

5. Who we are SWISSAVENUE
Partners
Swiss Avenue Partners was created in mid 2006 by Sandy Burton and Linas
Jarasius. We have a combined total of over 30 years of experience in business growth,
corporate finance, securities and merger and acquisition in the Australian, UK and US
marketplaces.
What began as a business coaching enterprise addressing the needs of small and
medium sized businesses, has evolved into a multi-disciplined corporate services
company with satisfied clients throughout California and Texas.
More revenue, more profits and effective management with reduced stress for all involved
are the results we deliver.
The foundation is training, not consulting. You will receive a series of tools, templates,
frameworks, software, processes, and methodologies that are implemented at all levels
within your company from the CEO to the newest employee.
The core competence has been the creation of Contextual Modeling tools. These,
together with the training and accountability provided by the Swiss Avenue Partners
team, creates effective change in businesses.
The Contextual Modeling Tools cover a multitude of business issues that can be
categorized as;
Financial Forecasting
Roles & Responsibilities
Revenue Generation
Strategy Modeling
While the categories are simple and broad, the output is larger, more complex and
specific to your company. They include such components as;
Advisory Board Establishment • Strategic Planning • Working Capital
Management • Cashflow Management • Acquisitions • Market Positioning
Dashboard Dials • Sales Systems Development • Channel Development
Compensation Systems • Functional Structure • Workflows • Job Descriptions
... and many others

6. What types of clients?
1. From $5m to $100m in Revenue
2. We are “industry agnostic” and have clients
in many fields that are both product and/or
service related
3. Profitable, but wanting (or needing) an increase
to the “bottom line”
4. Privately held. Generally 1-10 shareholders.
5. Engaged in a Merger, Acquisition, Sale of
the Business or Succession (such as MBO or
ESOP) or planning to do so within the next
36 months
When should I start?
The most common mistake is procrastination. “Fire
Sales” and simple deals can be completed in 6-9
months, but maximizing the TEV and increasing the
likelihood of obtaining the desired total outcome is
likely to take more than 12 months.
The best value for you and your company is far more
commonly delivered in 24-36 months. Remember,
the outcome change is often hundreds of thousands
or millions of dollars.
The Swiss Avenue Partners tools address
both the EBITDA and the MoE elements with tools,
software, processes, frameworks and training in a
structured, methodical approach that is designed to
maximize the TEV.
SWISSAVENUE
Partners

7. SWISSAVENUE
Partners
San Diego • Sacramento • San Francisco • San Antonio • Austin