Abstract
Boston-based takeover firm Thomas H. Lee Co. (THL) has agreed to buy 97% of publicly held scientific supply company Fisher Scientific International, Hampton, N.H., for $1.06 billion, or $51 per share. Fisher had 1996 earnings of $36.8 million on $2.1 billion in sales of 245,000 products and services. The recapitalization values Fisher at $1.4 billion and foils efforts by Fisher's biggest shareholder—the Texas Bass family to take control of the company. We are delighted and look forward to having Thomas H. Lee Co. as a new investor in Fisher, says Fisher President and Chief Executive Officer Paul M. Montrone, who will continue in his present positions. THL is a private equity firm that manages $3 billion in capital and acquires businesses for growth. In a highly publicized transaction a few years ago, the firm sold Snapple to Quaker Oats, making a $900 million profit. In 1996, THL bought TRW Corp.'s information systems for $1.01 billion ...
Published Version
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