THL
Middle market private equity firm
Boston, MA

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Category: Mid/Large Cap Growth
Mark: AAA

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Profile

Headquartered in Boston, Massachusetts, THL is a leader in middle market private equity, with an exclusive focus on 18 Identified Sector Opportunities (“ISOs”) across three Industry Groups: Financial Technology & Services, Healthcare, and Technology & Business Solutions. The firm combines deep domain expertise with the operating capabilities of its in-house Strategic Resource Group to build great companies and create lasting value. The firm places a high premium on partnership and collaboration, built on a foundation of trust and transparency.


Awards

2024 Top Private Equity Firms

2024 Top 25 Healthcare Investors, Joshua Nelson

2022 Top Women Leaders in Growth Investing, Megan Preiner

2022 Top 25 Healthcare Investors, Joshua Nelson

2021 Top 40 Under 40 Growth Investors, Megan Preiner, Ed Shahnasarian

Key People

Scott Sperling, Co-CEO

Scott began his tenure at THL in 1994 and has led many of the firm’s marquee investments. Scott is a director of Agiliti, Inc. and Thermo Fisher Scientific Inc. (which is a former THL portfolio company). His prior directorships include Experian, Front Line Management Companies, Houghton Mifflin Co., iHeartMedia, Inc., The Learning Company, the Madison Square Garden Company (which was not a THL portfolio company), PriCellular Corp., ProcureNet, ProSiebenSat.1, Univision Communications, Warner Music Group, Wyndham Hotels and several other private companies.. Prior to joining THL Partners, Scott was, for more than a decade, managing partner of the affiliate of Harvard Management Company that managed all alternative asset classes for Harvard University’s endowment fund. Before that he was a Senior Consultant with the Boston Consulting Group.

Todd Abbrecht, Co-CEO

Since joining the firm in 1992, Todd has been involved in executing investments across the full breadth of THL’s verticals, with an expertise in Healthcare. Todd is also a Director of Bazaarvoice, CSafe Global and Standish Management. Prior Board positions include Aramark Corporation, Curo Health ServicesT, Dunkin’ Brands, Inc., Fogo de Chão, Healthcare Staffing Services, Intermedix Corporation, Juvare, Michael Foods, Inc., National Waterworks, Inc., PCI Pharma Services, Warner Chilcott plc. and Syneos Health (formerly inVentiv Health, Inc.).  Todd also sits on the board of THL’s Charitable Foundation. Before joining the THL team, Todd worked at Credit Suisse First Boston in the Mergers and Acquisitions Department.

Dan Jones, Chief Operating Officer and Head of the Strategic Resource Group

As COO and Head of the SRG, Dan works side by side with portfolio company management and the firm’s investment teams to execute Value Creation Plans that improve operations and accelerate growth. Dan has worked with THL for over 15 years and brings extensive operating experience supporting all key business areas. He is a director of Adare Pharma Solutions and Auction.com. His prior directorships include Clear Channel Outdoor, iHeartMedia, Inc. and Nextech. Before joining the THL team, Dan held leadership and corporate finance roles at several companies, including Monitor Group and LATAM Airlines. He is also a Director at Spaulding Rehabilitation Hospital.

Jim Carlisle, Head of Technology & Business Solutions

As Head of the Technology & Business Solutions vertical, Jim leads a team to develop the firm’s technology practice and build leadership in its automation strategy, fostering a strong culture through specialization and professional development. He manages a large, diverse portfolio and works closely with the Strategic Resource Group to drive value creation for the firm’s portfolio companies. He is a director of Auction.com, Autostore, Brooks Automation and Fortna, and a board observer at inRiver and Kinexon. His prior directorships include Achievement Technologies, Agencyport Software, Clear Channel Outdoor Holdings, Front Line Management Companies, House of Design, iHeartMedia, Inc., Material Handling Systems and Ten-X Commercial. Jim currently serves as the Chair of the Board for Autostore and Fortna, among other of THL’s automation investments. Before joining the THL team, Jim worked at Goldman Sachs in the Financial Institutions Group. He also serves as a Trustee on The Massachusetts Eye and Ear Infirmary, having served on the Board of Directors for 10 years.

Josh Nelson, Head of Healthcare

Josh manages a large and diverse portfolio and works closely with the Strategic Resource Group to drive growth for the firm’s Healthcare companies. He is currently a a director of Adare Pharma Solutions, Agiliti, Inc., Autism Home Care Holdings, CSafe Global, Hospice Care Holdings, Intelligent Medical Objects, Senior Home Care Holdings and Smile Doctors. His prior directorships include 1-800 CONTACTS, Curo Health Services, Hawkeye Energy Holdings, Healthcare Staffing Services, Intermedix Corporation, Party City, Professional Physical Therapy, Nextech and Syneos Health (formerly inVentiv Health). Before joining the THL team, Josh worked at J.P. Morgan Partners, McKinsey & Co. and The Beacon Group, LLC.

Ganesh Rao, Head of Financial Technology & Services

As Head of the Financial Technology & Services vertical and member of the firm’s Management Committee, Ganesh helps drive firmwide strategy and leads the team responsible for a growing portfolio of fintech and fin services companies. He is currently a director of AmeriLife Group, Caret (formerly AbacusNext), Carpe Data, Dun & Bradstreet Holdings, Inc., Hexure (formerly Insurance Technologies), Hightower Advisors, Dayforce, Inc. (which is a former THL portfolio company), Odessa and Standish Management and is a board observer at Guaranteed Rate. His prior directorships include Auction.com, Black Knight Financial Services (which is a former THL portfolio company), Comdata, LifeWorks Corporation, Moneygram International, Nextech, Nielsen, Optimal Blue, Prime Risk Partners, ServiceLink Holdings and Ten-X Commercial.. Before joining the THL team, he worked at Morgan Stanley.

Greg White, Head of Investor Relations

As Head of Investor Relations, Greg leads the team in fundraising, planning investor relations activities and driving outreach to all existing and prospective limited partners (LPs). Greg is a founding member of THL’s DEI Leadership Committee. Before joining the THL team, he worked at Thomas Weisel Partners, TA Associates, Morgan Stanley, Smith Barney, UNC Ventures and the Massachusetts Pension Fund. Outside the office, he sits on the Boards of Directors for Boch Center and Dana Farber Cancer Institute.

Shari Wolkon, General Counsel

As General Counsel, Shari oversees the firm’s legal team as well as advises on transactions, portfolio company matters, regulatory issues and risk management. Before joining the THL team, she practiced corporate and securities law at Ropes & Gray, specializing in mergers and acquisitions, private equity and securities law.  In her free time, Shari volunteers on the Leadership Council of Home Base, a nonprofit dedicated to the healing of the invisible wounds of war for veterans, service members and their families.

Funds Raised

Since its founding in 1984, THL has raised eleven flagship funds with aggregate commitments of over $33 billion.

Fund Name Size Date
Automation II 900 M 2024
Automation I 900 M 2020 (*actively investing)
Fund IX 5.6 B 2020 (*actively investing)
Fund VIII 3.6 B 2019
Fund VII 2.6 B 2016
Fund VI 8.1 B 2006
Fund V 6.1 B 2000
Fund IV 3.5 B 1998
Fund III 1.4 B 1995
Fund II 568 M 1989
Fund I 66 M 1984

Key Investments

Autostore: Invested 2019
Sector: Industrial Technology

AutoStore leverages software and robotics to meet the increasing global demand for space-efficient automation solutions in warehouse and distribution facilities.  

Brooks Automation: Invested 2022
Sector: Industrial Technology

Brooks Automation is a leading provider of precision robots, automation systems and contamination control solutions serving global semiconductor and industrial technology customers in high-growth markets.

Bynder: Invested 2023
Sector: Front Office Application Software

Bynder’s digital asset management platform enables teams to conquer the chaos of proliferating content, touchpoints, and relationships to thrive. The company transformed the industry by making it easy for brand and creative teams to provide the right, on-brand assets across the enterprise.

CSafe: Invested 2016
Sector: Pharma Services

CSafe provides cold chain packaging and logistics services designed to maintain high-value, temperature-sensitive biopharmaceutical cargo—a powerful technology built for the cold chain supply chain. In recent years, CSafe was able to distribute more than 6 billion doses of the COVID-19 vaccine worldwide.

IMO Health: Invested 2022
Sector: Health Care IT

IMO Health is a healthcare data enablement company and market leader in clinical terminology software. Its technology enables doctors and nurses to input diagnoses into electronic health records systems using their own medical lexicon, without needing to manually map that terminology against thousands of codes specific to major healthcare reimbursement systems. 

Nextech: Exited 2023
Sector: Software with Embedded Payments, Health Care IT

Serving thousands of ambulatory physician practices across specialty care settings, Nextech delivers an end-to-end technology platform for clinical and administrative practice functions. The company’s intelligent, integrated solutions are tailored to the needs of specialty physician practices—driving optimized physician workflows, enhancing practice operations and supporting both patient care and overall satisfaction. 

Amerilife: Invested 2020
Sector: Insurance

AmeriLife is a national Insurance Marketing Organization (IMO), serving as a primary intermediary in the distribution of senior health, life, annuities and wealth management products and services. 

Dunn & Bradstreet: Invested 2019
Sector: CFO Software

The Dun & Bradstreet Corporation is a global leader in commercial data and analytics, whose assets are differentiated, mission critical and deeply integrated into customer workflows

Odessa: Invested 2021
Sector: Bank Technology

Odessa is a provider of asset leasing software which enables clients to manage the end-to-end leasing workflow for equipment and other asset types.

Capital Responsibility

Sustainability, community engagement and a commitment to diversity, equity and inclusion (DE&I) are important values for THL. We believe these principles contribute to our long-term sustainability as a firm. We don’t invent our own benchmarks. When we focus on sustainability issues, we seek to align our metrics with established, global frameworks such as the Principles for Responsible Investment (UNPRI), of which we have been a signatory since 2020. As we grow and evolve our sustainability program, we’re focused on applying a consistent approach to diligence, monitoring and reporting, where appropriate in light of the characteristics of each investment.