| Type | Private Ownership |
|---|---|
| Industry | Private equity |
| Founded | 1974 |
| Headquarters | Boston, Massachusetts, United States |
| Products | Leveraged buyout |
| Total assets | $22 billion[1] |
| Employees | 50+ (2007) |
| Website | www.thl.com |
Thomas H. Lee Partners is a private equity firm based in Boston, Massachusetts specializing in leveraged buyouts, growth capital, special situations, industry consolidations, and recapitalizations.
Founded in 1974, Thomas H. Lee Partners, often referenced as THL or THL Partners, is one of the oldest private equity firms in the United States.[2]. Since its inception, Thomas H. Lee Partners has raised approximately $22 billion of equity capital, investing in more than 100 businesses with an aggregate purchase price of more than $150 billion, completing over 200 add-on acquisitions.
Thomas H. Lee Partners’ team of investment and operating professionals is based in Boston and includes 21 senior partners averaging 23 years of relevant experience and 16 years at the firm. The firm is led by Anthony DiNovi and Scott M. Sperling, who became co-presidents of the firm in 1999.
In 2011, THL had 13 senior investment partners with an average of 20 years professional experience within the industry.
The firm's namesake, Thomas H. Lee, left the firm and formed Lee Equity Partners in 2006.[3]
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The firm has raised $22 billion since inception and is currently investing out of its $10 billion sixth fund:
Source: Preqin
Thomas H. Lee Partners invests in growth-oriented companies within three broad sectors: Business & Financial Services, Consumer & Healthcare, and Media & Information Services. The firm seeks acquisition candidates with opportunities for sustainable growth in their core and/or related businesses that are positioned to capitalize on key competitive advantages to increase market share, expand distribution or product lines and participate in industry consolidation.
Notable transactions sponsored by the THL include Aramark,[4] Ceridian,[5] Dunkin' Brands,[6] Experian, Fidelity National Information Services, HomeSide Lending, Houghton Mifflin,[7] inVentiv Health,[8] Michael Foods,[9] The Nielsen Company, ProSiebenSat.1, Snapple,[10] Warner Chilcott,[11] Warner Music Group[12] and West Corporation.[13]
Thomas H. Lee Partners' most recent fund has performed well, according to CalPERS.[14]
Thomas H. Lee Partners is also known for its investment in Refco a financial services company specializing in commodities and futures contracts, which collapsed suddenly in October 2005, only months after its IPO. Thomas H. Lee Partners has since settled all claims by Refco’s brokerage customers, bankruptcy trustee and shareholders.[15] Despite the issues caused by Refco, Thomas H. Lee Partners was able to raise $10.1 billion for its most recent private equity fund, its largest fund to date.
Thomas H. Lee Partners’ affiliates include:
THL Credit Advisors provides junior debt and equity to middle-market companies seeking capital for growth, acquisition, recapitalization and/or change of control.[16]
TH Lee Putnam Ventures is a technology-focused private equity firm affiliated with Thomas H. Lee Partners and Putnam Investments, a leading global money 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.[17]
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