Crains Chicago will report that Umbrelly Inc is rumored to be in buyout talks
with a major telecom company, which it currently represents, to sell for as much as 4.5 million dollars sending the Aurora, Illinois-based marketing company soaring to the top of this list of Chicago's fastest growing companies.
Umbrelly has experienced explosive growth in the last year from about $300,000 in annual revenue to approximately 1.5 million according to recent estimates. This is all after a massive restructuring by the CEO Mark Hillard. In late 2012 Hillard removed much of the company's sernior management team which included former VPs for Billion dollar companies and Phds who headed up areas such as finance and legal matters.
In addition to closing all of its satellite offices across the country and relocating it's headquarters from the heart of the Chicago Loop to much more modest offices in the Fox Valley area of Aurora.
These changes have no doubt contributed to the rapid growth and improved cash position of the company.
The deals of the buyout are still being worked out but are said to include a total takeover which would include the CEO Mark Hillard relocating and joining the company's team of advisers
CEO Mark Hillard has not confirmed nor denied the rumors of any potential buyout.
By: Farah Tahmali
VP Communications
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