Thomas H. Lee Partners, L.P. is an American private equity firm headquartered in Boston. The firm focuses on investing in middle market growth companies across various sectors, including financial technology, services, healthcare, technology, and business solutions.

History Thomas H. Lee Partners was founded in 1974 by Thomas H. Lee, often referred to as THL.Thomas H. Lee forms new venture: Lee Equity Partners (MarketWatch, 2006) As of 2022, THL had raised approximately $34 billion of equity capital, investing 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. In 2022, Private Equity International ranked THL Partners 82nd among the top 300 private equity firms based on funds raised in 2021.

The firm's Management Committee consists of Chairman Tony DiNovi, and Managing Director Tom Hagerty. The firm's namesake, Thomas H. Lee, left the company and formed Lee Equity Partners in 2006.Thomas H. Lee forms new venture: Lee Equity Partners (MarketWatch, 2006)

Investments Throughout its history, Thomas H. Lee Partners has raised over $36 billion. The firm has launched various funds, such as: 1984 - Fund I ($66 million) 1989 - Fund II ($568 million) 1996 - Fund III ($1.4 billion) 1998 - Fund IV ($3.5 billion) 2001 - Fund V ($6.1 billion) 2006 - Fund VI ($8.1 billion) 2016 - Fund VII ($2.6 billion) 2019 - Fund VIII ($3.59 billion) 2022 - Fund IX ($5.6 billion)

Other Funds 2019 – Continuation Fund I ($867 million) 2020 – Continuation Fund II ($916 million) 2021 – Automation Fund ($900 million)

Notable transactions sponsored by THL include AbacusNext, Aramark, Press Release AutoStore, Brooks Automation, Ceridian, CSafe, Dunkin' Brands,Parent of Dunkin' Donuts Sold For $2.4 Billion to Equity Firms (New York Times, 2005 Experian, Fidelity National Information Services, FourKites, Hightower Advisors, HomeSide Lending, Houghton Mifflin,Vivendi Confirms Houghton Mifflin Sale,(New York Times, 2002) Syneos Health, Michael Foods,Michael FoodsMichael Foods To Be Bought For $1 Billion (New York Times, 2003) The Nielsen Company, Odessa, ProSiebenSat.1, Smile Doctors, Snapple,Thomas H. Lee In Snapple Deal (New York Times, 1992) Warner Chilcott, Warner Music Group, and West Corporation.

Refco

In 2004, THL completed a leveraged buyout acquisition of Refco, a financial services company specializing in commodities and futures contracts, which collapsed suddenly in October 2005 only months after its IPO. 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.Refco bankruptcy trustee sues Thomas H. Lee Partners, New York Times, August 9, 2007. THL has since settled all claims by Refco's brokerage customers, bankruptcy trustee and shareholders.

Art Van Bankruptcy In March 2020, Art Van Furniture, a furniture retailer owned by THL, filed for Chapter 11 bankruptcy. The company's going-out-of-business sales, approved two days before the filing, had to be suspended due to the onset of the COVID-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, 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.

Affiliates THL's past affiliates include:

THL Credit Advisors acquired in 2020 by First Eagle Investment Managed, provided junior debt to middle-market companies seeking capital for growth, acquisition, recapitalization and/or change of control.THL Credit. THL Credit (2013-06-30). Retrieved on 2013-08-16. In July 2020, THL Credit changed its name to First Eagle Alternative Capital BDC, Inc.

TH Lee Putnam Ventures is a technology-focused private equity firm affiliated with THL 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.TH Lee. Thlpv.com. Retrieved on 2013-08-16.

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External links

Thomas H. Lee (FundingUniverse.com, from International Directory of Company Histories, Vol. 24. St. James Press, 1999.) Banks Balk at Paying for Clear Channel Deal (New York Times, 2008)