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Updated: 2 hours ago

Amid restructuring, Portland IT firm Tilson accepts $22M offer from strategic acquirer

By Renee Cordes

Amid its Chapter 11 restructuring, Portland-based IT company Tilson has accepted a $22 million offer from ITG Communications LLC to buy the business. 

The deal, subject to court approval, is expected to close later this month. 

ITG, which lists dual corporate headquarters in Hendersonville, Tenn., and Fort Lauderdale, Fla., on its website, is a national provider of fulfillment, construction and project management services to the cable and telecommunications industries.

Darrell Ingram of Tilson
File photo
Darrell Ingram

“We are pleased to have identified the offer from ITG Communications as the highest and best following a competitive auction process,” Tilson CEO Darrell Ingram said in Friday’s news release. “The proposed transaction is a key step in our efforts to emerge from Chapter 11 as a stronger, financially sound company with the resources and expertise needed to achieve long-term success.”

Michael Brooks, co-founder and CEO of ITG, said the acquisition will enhance the company’s service offering and customer base.

“ITG is also excited to welcome Tilson’s talented leadership team to our own already impressive group of leaders, all of whom will undoubtedly accelerate future growth,” he noted.  “As a nationwide provider, we are confident this partnership will further strengthen Tilson’s existing legacy in the industry.”

The next hearing date in Tilson's bankruptcy case is Monday, Sept. 15.
 

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