 | This articlecontainspromotional content. Please helpimprove it by removingpromotional language and inappropriateexternal links, and by adding encyclopedic text written from aneutral point of view.See ouradvice if the article is about you and read ourscam warning in case someone asks for money to edit this article.(September 2022) (Learn how and when to remove this message) |
 | |
| Company type | Private |
|---|---|
| Industry | Private equity |
| Founded | 1974; 52 years ago (1974) |
| Founder | Thomas H. Lee |
| Headquarters | 100 Federal Street Boston,Massachusetts, United States |
| Products | Leveraged buyout,growth capital |
| AUM | $16.9 billion[1] |
Number of employees | 100+ (2022) |
| Website | thl |
Thomas H. Lee Partners, L.P. is an Americanprivate equity firm headquartered inBoston. The firm focuses on investing in middle market growth companies across various sectors, including financial technology, services, healthcare, technology, and business solutions.[2]
Thomas H. Lee Partners was founded in 1974 by Thomas H. Lee, often referred to as THL.[3] As of 2022, THL had raised approximately $34 billion of equity capital, investmenting in more than 160 companies. The firm's portfolio includes over 500 add-on acquisitions representing an aggregate enterprise value at acquisition of over $210 billion.[4] In 2022, Private Equity International ranked THL Partners 82nd among the top 300 private equity firms based on funds raised in 2021.[5]
The firm's Management Committee consists of Chairman Tony DiNovi, and Managing Director Tom Hagerty.[6] The firm's namesake, Thomas H. Lee, left the company and formedLee Equity Partners in 2006.[7]
Throughout its history, Thomas H. Lee Partners has raised over $36 billion. The firm has launched various funds, such as:
Notable transactions sponsored by THL includeAbacusNext,[8]Aramark,[9][10] AutoStore,[11]Brooks Automation,[12]Ceridian,[13]CSafe,[14]Dunkin' Brands,[15]Experian,[16]Fidelity National Information Services,[17] FourKites,Hightower Advisors,[18] HomeSide Lending,Houghton Mifflin,[19]Syneos Health,Michael Foods,[20]The Nielsen Company,[21]Odessa,[22]ProSiebenSat.1, Smile Doctors,Snapple,[23]Warner Chilcott,[24]Warner Music Group,[25] andWest Corporation.[26]
In 2004, THL completed a leveraged buyout acquisition ofRefco, afinancial services company specializing incommodities andfutures contracts, which collapsed suddenly in October 2005 only months after itsIPO. Refco's collapse cost investors more than $1 billion and sparked multiple suits for negligence against the firm. THL in turn sued Refco's auditors and former executives claiming they hid the fraud which caused Refco's collapse.[27] THL has since settled all claims by Refco’s brokerage customers, bankruptcy trustee and shareholders.[28]
In March 2020,Art Van Furniture, a furniture retailer owned by THL, filed for Chapter 11 bankruptcy.[29] The company's going-out-of-business sales, approved two days before the filing, had to be suspended due to the onset of theCOVID-19 pandemic in the United States. As a debtor-in-possession, Art Van could not prioritize paying employees over other creditors without a court order. To support the affected employees,[30] THL established a 'Hardship Fund' and contributed an initial donation of $1 million. Additionally, THL pledged to match up to another $1 million in outside donations. In March 2021, THL fulfilled its matching commitment, leading to relief payments of approximately $1,200 per former Art Van employee.[31]
THL's past affiliates include:
THL Credit Advisors acquired in 2020 by First Eagle Investment Managed, provided junior debt tomiddle-market companies seeking capital for growth, acquisition, recapitalization and/or change of control.[32] In July 2020, THL Credit changed its name to First Eagle Alternative Capital BDC, Inc.[33]
TH Lee Putnam Ventures is a technology-focused private equity firm affiliated with THL andPutnam Investments, a leading globalmoney management firm. TH Lee Putnam Ventures manages $1.1 billion in capital commitments and has invested approximately $850 million in more than 43 companies since the firm's formation in 1999.[34]
