Tilson lands $100M investment to support growth of nationwide 5G rollouts
Photo / Tim Greenway
Joshua Broder, CEO of Tilson, said the company's new employee leave policies will give workers "the valuable time they need with their families at critical times in their lives."
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Tilson, the fast-growing Portland-based network deployment and IT professional services firm, announced Tuesday has completed a transaction through which funds managed by SDC Capital Partners LLC will invest up to $100 million in the company.
Tilson said in a news release the investment will support its expansion by both driving its continued growth of nationwide network infrastructure design-build services and enabling the spin-out and capitalization of Tilson's asset ownership affiliate, SQF LLC.
“We are thrilled to welcome SDC as an investor and partner,” said Tilson CEO Joshua Broder. “SDC brings a wealth of experience in building and growing platforms and we share a long-term strategic vision as we scale to meet the exploding market demand for small cell infrastructure development. With SDC's support, we are in an even stronger position to serve the wide-ranging needs of our clients from national 5G rollouts to cutting-edge ‘internet of things’ technology services.”
5G stands for fifth-generation cellular wireless and the initial standards for it were set at the end of 2017. Those standards are expected to lead to 5G cellular networks capable of moving more data at greater speeds as well as being able to connect a lot more devices at once.
SQF maintains authority to own and develop telecommunications assets in public rights-of-way throughout the United States and is a leading pole owner and solutions provider for 5G service. Supported by Tilson's real-estate entitlement, engineering, construction and operational capabilities, SQF provides customers with a range of infrastructure options, from single site design-build services to fully outsourced deployment and management nationwide, Tilson stated in its news release.
Todd Aaron, SDC’s managing partner, credited Broder’s leadership and Tilson’s “industry-wide reputation” for being at the forefront of emerging capabilities and technologies.
"The company's incredible recent growth is a testament to its unrelenting focus on execution and the trust in Tilson placed by many of the largest global telecom providers,” he said. “We see great opportunity in the prospect of combining SQF's unique offering with Tilson's wide ranging capabilities and are excited to support the platform's further growth."
DLA Piper acted as legal counsel to Tilson in the transaction and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel to SDC.
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