TPx Secures Financing and Restructuring Agreement to Promote Growth and Stability

TPx Strengthens Financial Position Through Strategic Restructuring

TPx, a prominent nationwide provider of managed services, has taken a monumental step towards financial stability by entering into an amended and restated Restructuring Support Agreement. This important move was announced on June 29, 2026, and comes in alignment with their strategic plans aims to bolster growth and improve the company’s overall financial health.

The Restructuring Support Agreement was established with existing sponsors and lenders, who collectively hold about 98% of TPx's funded debt. This agreement not only aims to provide essential liquidity but also facilitates a substantial recapitalization of the company, which includes eliminating significant debts. According to TPx's CEO, Shaun Andrews, this strategic restructuring is pivotal for the company's next growth phase, ensuring they can better serve their clients with high-performance managed services.

Additionally, TPx has secured a commitment of $73.6 million in Debtor in Possession (DIP) financing, designed to support day-to-day operations and finance their exit from the Chapter 11 process they have begun. The company has filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. This proactive step is aimed at ensuring that TPx can continue its regular operations without interruption, thereby maintaining robust service delivery to its clientele.

Throughout the restructuring process, TPx will focus on maintaining its operational integrity and strong relationships with customers, vendors, and technology partners. As stated by Andrews, the restructuring will not hinder their commitment to providing top-tier services, and clients can expect the same level of reliability as before.

To further facilitate a seamless transition into the Chapter 11 process, TPx has filed customary