Advent, THL-backed Party City Completes IPO, Raises $372M
April 17, 2015
Party City completed its IPO yesterday, pricing shares at $17 each, the high end of its expected price range, and raising nearly $372 million. Listing on the NYSE under the ticker PRTY, shares of the party goods retailer and supplier closed yesterday's trading session up almost 22% at $20.70. The company's PE backers include Thomas H. Lee Partners (69.3% pre-IPO stake) and Advent International (23.8%). THL sold a 13% stake in the company as part of the offering but maintained a controlling ownership interest.