Advent, Thomas H. Lee-backed Party City Files for $350M IPO
April 07, 2015
Party City has set terms for its IPO, planning to list shares on the NYSE under the ticker PRTY. The party goods retailer and supplier will offer shares in a price range of $15 to $17, raising approximately $350 million if shares price at the midpoint. Party City's PE backers include Thomas H. Lee Partners (69.3% pre-IPO stake) and Advent International (23.8%). THL, which acquired a majority ownership interest in the company in Summer 2012, will be selling a 13% stake but retain a controlling interest.