Gregory Tripple Recommendation Letter

My name is Ed Potoczak. Late in 2013, I was recruited as the Interpower Induction General Manager. I met Greg Tripple through his then consulting partner in mid-2013. I want to recommend him professionally because I now know him very well and value his experience, skills and character.

The Interpower Induction group (IPC) is an entrepreneurial $25M organization with 20% compounded annual growth rate delivering highly engineered technology solutions in the capital goods equipment industry though its six autonomous global business units.

Initially Greg began consulting for our group in May 2013 when he and his partner initially advised us in the scope of a private equity growth consulting assignment. Initially the strategy focused on preparing our group for a significant liquidity event. Our initial objective was ttracting minority institutional investors to further underwrite IPC commercial expansion and envisioned M&A activity. However, their ensuing analysis redirected our focus. They recommended revised plans to delay sourcing external capital as long as possible because organic growth was more favorable to growth in shareholder value.

They also reorganized our organization and prepared for “boot-strapped” rapid organic growth. Large customers partially funded this strategy through a contractual percentage of completion funding mechanism.

Greg negotiated a significantly enhanced bank funding credit line to help fund our growth. This was augmented through implementing operational budgets, redesigning sales incentive compensation, expanding comprehensive benefit plans to enhance recruitment and retention, and increasing team alignment,.

One of Greg’s most valuable efforts involved implementing GAAP financial accounting to replace previous reliance on tax books for gauging company performance while he led preparations for the initial IPC professional financial audit.

After accomplishing these finance actions, he decided to leave our organization to pursue other opportunities that entailed a much shorter commute. Greg was always a very hard working and diligent executive and colleague. As our CFO, Greg accomplished many key milestones in our work to normalize and scale our financial management including:

1) Creating standardized chart of accounts (COA) supporting consistent consolidation and enhancing product line revenue and operations forecasting

2) Restating historical financial statements consistent with US GAAP including revenue recognition accounting as required for stakeholder and regulatory reporting

3) Improving monthly general ledger closing procedures from over 45 to less than 8 days after monthend with improved accounting process controls

4) Designing and implementing new management accounting reporting rhythms, product revenue forecasting, and financial statements facilitating budgeting/forecasting.

5) Crafting our first annual company and capital expenditures operating budget. Designed five year strategic scan consistent with long term growth strategy

6) Selecting new audit firm, leading first company financial audit. 7) Successfully completing a significant four year cumulative sales & use tax audit with

results much better than expected.8) Redesigning our performance-based compensation structure with the goal of aligning

stakeholders to profitably foster long term customer-satisfaction9) Building treasury forecasting tools significantly improving cash-flow forecasting 10) Collecting $800,000 in aged AR and streamlining customer billing cycle through improved

revenue collection processes and therefore reducing from 60+ to <45 average DPD11) Standardizing our payables processing cycle to better predict cash requirements12) Implementing fixed asset inventory accounting, significantly improving inventory

valuations for both GAAP and insurance purposes13) Negotiating a new commercial banking relationship, doubling credit line with

significantly improved terms including best in class covenants and bank reporting. Additionally he arranged $200,000 or 85% commercial credit card limit increase with more favorable terms and conditions.

14) Structuring a strategic joint venture alliance with a German partner, positioning organization for significant North American expansion

15) Strategically creating and incorporating a new Indian subsidiary to accelerate Asian growth

I highly recommend Greg Tripple. He is a very focussed, dedicated and committed member of our executive management team. Greg is dedicated to transforming entrepreneurial organizations and leading their future growth and expansion, both domestically and internationally. His ability to speak several languages assures clear understanding in international business matters.

We wish Greg all the best in his future endeavors and thank him for his significant contributions during this past 18 months when he served as our first group Chief Financial Officer. I highly recommend Greg to any other organization in need of his initiative and talents.

I would be pleased to provide more information. Please feel free to contact me at 810-417-1887 direct, or epotoczak@interpowerinduction.com email if you wish to further discuss his accomplishments and attributes.

Ed PotoczakEd Potoczak, General Manager