For Immediate Release
Portland, Maine (May 29, 2025) – Tilson Technology Management (“Tilson” or “the Company”), a national leader in network development and information infrastructure professional services, today announced the next steps it is taking to address financial challenges triggered by the abrupt cancellation of one client’s contracts and position the go-forward business for long-term success.
The Company and affiliates Tilson Middle Street Holdings, LLC and Boundless Broadband, LLC have initiated a voluntary Chapter 11 process in the U.S. Bankruptcy Court for the District of Delaware.
Tilson and all of its affiliates are operating as usual and meeting obligations to clients and partners without interruption. The Company has received a commitment for $37.5 million in debtor-in-possession financing from its existing lenders to support operations throughout the Chapter 11 process. Tilson aims to complete the restructuring as quickly as possible and emerge from Chapter 11 as a financially stronger company in the third or fourth quarter of 2025.
“For nearly 20 years, Tilson has helped clients tackle their most difficult information and communications infrastructure challenges. Our core business is strong, but we need to reset after one client’s failure to manage its relationships with its host communities and pay us for the work we performed materially changed our revenue expectations,” said Darrell Ingram, CEO of Tilson.
“The steps we’re taking today represent a new beginning, not an end,” Ingram continued. “We are fortunate that our lenders continue to believe in our business and support us financially, so we can overcome this setback and create a strong financial future for our Company. We have already taken steps to realign our cost structure with the needs of our go-forward business and are now using Chapter 11 to complete our balance sheet restructuring as efficiently and effectively as possible. We are confident we will succeed, and greatly appreciate the continued support of our employees, clients, and partners as we take these next steps.”
Tilson has filed a number of “First Day” motions with the Bankruptcy Court seeking approval to support its operations during the Chapter 11 process, including paying employees without interruption. The Company expects to receive approval of these motions in the coming days and intends to pay vendors and suppliers in full for goods and services provided on or after today’s filing in accordance with the Bankruptcy Code.
For more information about the Company’s Chapter 11 case, including claims information, please visit https://omniagentsolutions.com/BoundlessBroadband or contact Omni Agent Solutions, the Company’s noticing and claims agent, at BoundlessBroadbandInquiries@OmniAgnt.com or via phone at 888-504-9089 (US & Canada toll free) or 747-293-0137 (International).
Tilson is advised in this matter by Bernstein Shur and Saul Ewing as legal counsel, Woodward Park Partners as investment banker, and Alastar Partners as financial advisor. The Company’s lenders are advised in this matter by Morgan Lewis and BRG.
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.
FTI Consulting
TilsonComms@fticonsulting.com