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CONFIDENTIAL - COMMERCIAL DUE DILIGENCE REQUEST

RE: Proposed Acquisition of TechFlow Industries Inc.

Dear Consulting Partners,

Meridian Capital Partners ("Meridian" or the "Sponsor") is evaluating the potential acquisition of TechFlow Industries Inc. ("TechFlow" or the "Target"), a leading provider of industrial automation solutions headquartered in Austin, TX.

TechFlow generated approximately $95M in revenue and $18M in EBITDA (LTM September 2025). The business operates across three segments:
1. Industrial Automation Systems (62% of revenue)
2. Predictive Maintenance Solutions (25% of revenue)  
3. Integration Services (13% of revenue)

We are seeking a comprehensive Commercial Due Diligence engagement to validate the investment thesis and identify key value creation opportunities. Key areas of focus include:

• Market sizing and growth projections for the industrial automation sector
• Competitive positioning analysis and sustainable differentiation
• Customer concentration risk assessment and revenue quality
• Growth strategy validation and expansion opportunities
• Operational improvement potential and margin enhancement

Proposed Timeline: 4 weeks from engagement kickoff
Transaction Timing: Indicative bid due December 15, 2025

Please provide your proposal and team composition.

Best regards,
Sarah Chen
Managing Director, Meridian Capital Partners