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De Lorme, Frederic James, 1909-1992

 
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Mary S Taylor



Joined: 27 Nov 2007
Posts: 27821
Location: Fresno, CA

PostPosted: Fri Nov 30, 2007 5:48 am    Post subject: De Lorme, Frederic James, 1909-1992 Reply with quote

Cleveland Plain Dealer, OH Nov. 3, 1992
FREDERICK J. DE LORME, WAS LAWYER, EXECUTIVE
Frederick J. de Lorme was a founding partner of Plymouth Corp., which staged one of the nation's first leveraged buyouts when it formed in Cleveland in 1962 to take over Oster Manufacturing Co. of Willowick, one of the nation's largest manufacturers of pipe-threading tools and equipment. Mr. de Lorme, 83, died last Tuesday of heart failure at Monterey Convalescent Hospital. He was born in Brooklyn. He was a lawyer who worked as a financial officer at several large New England manufacturing firms before moving to Canton and joining H&B American Machine Co. and later E.W. Bliss Co. of Canton. He left Bliss to work with former Bliss president and industrialist Louis C. Edgar Jr. in forming Plymouth Corp. In March 1962, Oster stock jumped to a 10-year high of $10.75 on the over-the-counter market when word spread of Plymouth's proposal. The proposal involved $10 a share cash offer plus long-term securities and debentures. Plymouth was successful in the takeover. The company later was bought out by Teledyne Inc. Mr. de Lorme, who lived in Solon for 25 years until moving to California three years ago, was a former member of the Solon Public Library Board. After his retirement, he took up woodworking and carving. He especially liked to carve birds, primarily gulls and woodpeckers. He also made a number of candlesticks and candlelabrums. He also sang with the Cleveland Symphony Chorus after his retirement. Surviving are a daughter, Claire Dungan of Carmel, Calif., and three grandaughters. A memorial service will be at 4 p.m. Friday at the Little Chapel-by-the-Sea in Pacific Grove, Calif.

DELORME FREDERIC JAMES 1909 05 10 HOWARD MALE NY MONTEREY 1992 10 27 088012445 83
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