HISTORY
In 1984, Axia, Inc successfully thwarted a public raider takeover and became one of the first and most successful LBO’s.

Just five years later and after retiring all the debt except for roughly $30 million in subordinated bonds, Axia undertook a $174 million leveraged recapitalization to distribute a dividend to their third-party equity partners while expanding the ownership. This timing coincided with the challenges brought upon by the Tax Reform Act of 1986, the savings and loan crisis and as a result Axia became classified as a highly-leveraged transaction just as the construction boom dramatically cooled.


In response to these challenges, Tony helped to engineer and lead the execution of a substantial and comprehensive restructuring plan; foreign subsidiary operations were closed, over 1/3 of the product line was rationalized and discontinued, dramatic cost reductions and production efficiencies were realized via the implementation of cellular manufacturing and one of the first successful applications of activity-based management. As a result, Goldblatt was successfully repositioned to remain highly competitive within very difficult market and economic conditions and the firm was sold to Stanley Works late 1991.


Caught by the turnaround bug and encouraged/inspired by several former Arthur Andersen and Axia executives, Tony initially began his turnaround consulting career immediately after leaving Goldblatt-Stanley in 1992. Initially as a sole operator and eventually through the formation of IronHorse in 1998, Tony focused and grew the organization by:

  • Maintaining an industry concentration/niche with emphasis on blue collar industrial firms, specialty commercial finance, specialty contracting, and selected service industries.
  • As a fellow entrepreneur and small business owner, with a career running highly—leveraged, rapidly growing as well as struggling enterprises, Tony genuinely felt empathy towards and shared the vision of his business owner clients. Trust and a shared experience and perspective are critical requirements with Midwestern small business owner entrepreneur clients.
  • Developing a multi-disciplinary team of specialists committed to responsive, accelerated solutions customized to the unique and particular challenges of small mid-market, and small market business owners as well as their legal and financial partners who serve them.
  • Complementing our turnaround and restructuring consulting services with a practice specialty suite that targets the legal and financial communities with value-added litigation support, forensic and valuation services, and due diligence solutions where speed, thoroughness, and unmatched industry expertise are paramount.


We are committed to being extraordinarily disciplined, responsive, and efficient. Our commitment to empathy and focus, to depth of expertise, to responsive, and value-added solutions ensures our clients of only the best; precisely timed, and very efficiently delivered.