Company Obtains Significant Financing as it Moves Forward with Sale Process to Maximize the Value of its Business and Strengthen its Financial Position
PORTLAND, Maine, June 27, 2025 /PRNewswire/ — Tilson Technology Management (“Tilson” or “the Company”), a national leader in network development and information infrastructure professional services, today shared significant progress on its ongoing efforts to position the Company for long-term growth following its Chapter 11 filing. Recent media reports have mischaracterized the intent and progress of the filing, and Tilson wants to emphasize its unwavering commitment to ensuring continuity of services and preserving its strong reputation with partners now and for years to come.
To date, the Company has:
- Secured financing from Bank of America and others, providing critical liquidity to support operations
- Received court approval to pay its employees and critical vendors, enabling the Company to stabilize its workforce and maintain essential business relationships
- Received court approval to pay all vendors for goods and services provided during the Chapter 11 process without delay, so that these vendors are paid in full and on time for goods and services provided since May 29, 2025
Importantly, with the support of its lenders, Tilson has started the process to obtain court approval for a formal process to sell its business. This marks a significant milestone in the Company’s efforts to maximize value for all stakeholders and secure the necessary resources and partner for Tilson’s next phase of growth.
“Tilson’s sale process simply seeks a new owner of its go-forward operations, which have been strengthened by Tilson’s separation from Gigapower. To be clear, this is not a liquidation or going-out-of-business sale,” says Darrell Ingram, CEO, Tilson. “Rather, we are seeking a partner who shares our vision for the company’s future, and understands and supports our strategy going forward. We are optimistic this process will result in a stronger Tilson for years to come.”
As previously announced, Tilson initiated a Chapter 11 restructuring on May 29, 2025 to protect its business. The filing was precipitated by the failure of its largest customer – Gigapower – to fulfill its obligations and pay for work performed in good-faith. Despite the setbacks caused by Gigapower, Tilson continues to grow and serve existing and new partners.
Tilson is fundamentally strong and focused on delivering long-term value to its investors, partners and employees. In fact, Tilson continues to execute for existing and new clients, and has been awarded more than $40 M in new engineering, O&M, and consulting work over the last month alone.
“We are off to a great start and appreciate the continued hard work, commitment, and passion of everyone here at Tilson in ensuring we remain the leader in network development and information infrastructure professional service,” Mr. Ingram said.
About Tilson:
Tilson is a national leader in network development and information infrastructure professional services, offering turnkey solutions across the entire project lifecycle. Our in-house teams are comprised of strategic consulting, network deployment, and project management professionals, ensuring comprehensive support at every stage. From project inception to self-performed installations and ongoing repair and maintenance, Tilson delivers end-to-end solutions that are fully customizable to meet the unique needs of each client.
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SOURCE Tilson Technology Management
