Thompson PBE Hires Financial Advisor

Thompson PBE Inc. said it hired Donaldson, Lufkin & Jenrette Securities Corp. as financial advisor to help the company’s board weigh alternatives. The distributor of paints and supplies to the automotive collision repair industry also said it recently acquired two businesses in Fresno and Phoenix with annual revenue of about $2 million. Marina del Rey-based Thompson acquired four single-location businesses during fiscal 1997, which ends in September, with combined historical annual revenue of more than $10 million. In addition, Thompson said the general manager of the company’s southeast division, Ronald White, resigned and will be replaced by John Sheppard, who had been a vice president of the division until last year. Thompson shares rose 88 cents to close at $5.50 on Nasdaq.