TPx: Accelerating What’s Next
Building On Our Progress
Over the past several years, TPx has taken bold, intentional steps to strengthen its position as a best-in-class managed services provider. We have refined our focus by thoughtfully moving away from legacy products and services that no longer align with our vision, while accelerating investments in our award-winning customer experience. These efforts have not only sharpened our strategic direction but also reinforced our commitment to delivering exceptional value to our customers.
Looking Ahead
As we plan for the next phase of growth, we recognized that certain debt obligations tied to our legacy business were no longer aligned with the future we are creating. Addressing this was a critical step in unlocking our full potential.
The Path Forward
After a comprehensive evaluation of our options, TPx has entered into a capital restructure process with the support of its investors and lenders. This Restructuring Support Agreement (RSA) marks a pivotal moment for our company, creating a stronger, more flexible financial foundation to support continued growth. By significantly reducing debt, TPx is well-positioned to accelerate innovation, expand its capabilities, and build on the strong EBITDA performance and free cash flow growth achieved in recent years.
To implement the agreement, TPx has filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. Throughout the process, TPx will continue to operate as usual, delivering reliable managed services and supporting our customers’ day-to-day operations without interruption.
“This agreement with our lenders marks a substantial step forward for TPx. It gives us the flexibility to accelerate our strategy, increase investments that grow the business, and deliver exceptional managed services to our customers. We’re energized by the opportunities this creates and the path ahead.”
Shaun Andrews, Chief Executive Officer
Operating as Usual
TPx remains laser-focused on delivering solutions that help our customers thrive.
Operating as usual with no impact to services, support, or day-to-day
Teams remain fully operational, delivering the excellent solutions and support our customers expect
Strengthening our business to deliver even better service and solutions
Stakeholder Commitments
You should see no impact to your relationship with TPx. We deeply value our relationship with you and understand that TPx is critical to your business. Our teams are fully operational and remain available to support your needs and answer any questions you may have. We are committed to providing the same excellent service you expect.
You should see no impact to our relationship, contract, or commissions at this time. We remain as committed as ever to ensuring you receive the highest level of engagement and support to achieve mutual success. Together, we’ll continue to provide the excellent services our customers expect.
TPx is committed to delivering the excellent solutions and service you expect. We understand the critical role we play in your operations and remain committed to delivering consistent, reliable support.
There is strong momentum underway at TPx, as evidenced by our growth, consistently strong EDITDA and free cash flow. We expect this action to accelerate that progress, positioning us for faster, long-term growth and enabling us to better serve you.
We are committed to transparent communications and will continue to provide updates on this site as there is information to share. If you have questions, please reach out to your usual TPx contact or visit: https://restructuring.ra.kroll.com/TPx.
What’s Next
We are committed to keeping our stakeholders informed and will continue to share updates as additional information becomes available.
For additional information, visit Kroll Inc., the third-party claims and noticing agent supporting us during this process or the TPx Newsroom.
For additional information, visit the TPx Newsroom or Kroll Inc., the third-party claims and noticing agent supporting us during this process.
