The firm had its origin in the mid-18th century coming into control of John William Thomas in 1848. After his death (1852) the firm was managed by his two sons, John William Thomas II (apprenticed to his father in 1840, obtained his freedom in 1847) and Francis Boone Thomas. Francis Boone Thomas was apprenticed to his father in 1847 and after his father's death was turned to his brother John William Thomas II, obtaining the freedom in 1854. The firm (trading as retail silversmiths) was known as J.W. Thomas & Son or as J.W & F.B. Thomas. After the death of John William Thomas II (circa 1862/1867) the control of the firm was assumed by Francis Boone Thomas. F.B. Thomas entered his first mark in 1874 listing at 153 New Bond Street as showrooms and 13 Oxford Market as manufactory.
In this period, the firm had deep links with Richard Sibley II (manufacturing Silversmith), who was active (1862/1880) at the same address of 13 Oxford Market acting, presumably, as manufacturer of finished articles retailed by Thomas (some pieces bear the inscription THOMAS besides Sibley's hallmark).
In c. 1896 entered in the partnership Charles Henry Townley (apprenticed to F.B. Thomas in 1864, obtained his freedom in 1871) and John William Thomas III (son of J.W. Thomas II, obtained freedom by patrimony in 1877). Both partners were nephews of F.B. Thomas. After the death of F.B. Thomas (1900) the firm continued to be managed by his two nephews and partners until c. 1919, when J.W. Thomas became the sole partner. After his death (1924) the firm was managed by his son until 1941 when the firm closed.