M&A Deal Summary

Thomas H. Lee Partners and Advent International Acquire Party City

On June 5, 2012, private equity firms Thomas H. Lee Partners and Advent International acquired consumer products company Party City from Berkshire Partners, Advent International and Weston Presidio for 2.7B USD

Acquisition Highlights
  • This is Thomas H. Lee Partners’ 4th and Advent International’s 7th transaction in the Consumer Products sector.
  • This is Thomas H. Lee Partners’ 11th and Advent International’s 12th largest (disclosed) transaction.
  • This is Thomas H. Lee Partners’ 33rd and Advent International’s 55th transaction in the United States.
  • This is Thomas H. Lee Partners’ 5th and Advent International’s 6th transaction in New York.
Investment Fate
  • Party City went public in 2015.

M&A Deal Summary

Date 2012-06-05
Target Party City
Sector Consumer Products
Buyer(s) Thomas H. Lee Partners
Advent International
Sellers(s) Berkshire Partners
Advent International
Weston Presidio
Deal Type Recapitalization
Deal Value 2.7B USD

Target

Party City

Elmsford, New York, United States
website
Party City is a designer, manufacturer, contract for manufacture and distributes party goods, including paper and plastic tableware, metallic balloons, accessories, novelties, gifts and stationery. Party City was founded in 1947 and is based in Elmsford, New York.

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Buyer(S) 2

Buyer

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1974
PE ASSETS 25.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners, LP (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. Thomas H. Lee Partners, LP was formed in 1974 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 42 of 83
Sector (Consumer Products) 4 of 4
Type (Recapitalization) 4 of 11
State (New York) 5 of 6
Country (United States) 33 of 71
Year (2012) 2 of 2
Size (of disclosed) 11 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-29 Fogo de Chão

Dallas, Texas, United States

Fogo de Chão is a Brazilian steakhouse, or churrascaria, which has specialized in fire-roasting high-quality meats utilizing the centuries-old Southern Brazilian cooking technique of churrasco. Fogo de Chão was founded in 1979 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-21 Intrado

Omaha, Nebraska, United States

Intrado is a cloud-based, global technology partner to clients around the world. The Company's solutions connect people and organizations at the right time and in the right ways, making those mission-critical connections more relevant, engaging, and actionable - turning Information to Insight. Intrado was formed in 1986 and is based in Omaha, Nebraska.

Sell -
Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 200 of 330
Sector (Consumer Products) 7 of 20
Type (Recapitalization) 10 of 13
State (New York) 6 of 15
Country (United States) 55 of 100
Year (2012) 5 of 9
Size (of disclosed) 12 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-04 Connolly

Atlanta, Georgia, United States

Connolly is a provider of technology-enabled recovery audit services in the United States, Europe, and Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-01 Serta Simmons Bedding

Doraville, Georgia, United States

Serta Simmons engages in designing, manufacturing and selling sleep products that give consumers the sleep they need to live the lives they want. Serta Simmons primary brands include Serta, Beautyrest, Simmons, and Tuft & Needle brands. Serta Simmons was founded in 2010 and is based in Doraville, Georgia.

Buy -

Seller(S) 3

SELLER

Berkshire Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Berkshire Partners is a private equity firm focused on investing in businesses with strong management and that lead their respective markets. Berkshire will consider investments in both public and private companies. Prospective transactions for private companies include leveraged buyouts, recapitalizations, growth capital financings, and privatizations. Public company transactions include take-privates, PIPEs, and equity stakes. Berkshire generally looks to invest $150 to $500 million of equity capital per transaction in companies valued up to $2 billion. Sectors of interest include industrial manufacturing, consumer products, retailing, transportation, communications and business services. Berkshire Partners was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 35 of 60
Sector (Consumer Products) 4 of 8
Type (Recapitalization) 2 of 2
State (New York) 1 of 4
Country (United States) 31 of 51
Year (2012) 4 of 4
Size (of disclosed) 4 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-15 Masai Group International

Romanshorn, Switzerland

MBT is headquartered in Romanshorn, Switzerland, MBT designs athletic, casual and professional shoes and sandals that provide orthopedic and fitness benefits

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-13 Farm Boy

Ottawa, Ontario, Canada

Farm Boy is a Canadian food retailer recognized for its produce, meat, bakery, cheese and fresh kitchen prepared items. The company provides a unique shopping experience in comparison to big box retailers or traditional grocers. Farm Boy produces its own extensive line of private label products made with absolute dedication to the highest standards of quality and freshness. The company currently has over 20 stores in the Greater Ottawa, Cornwall, Kingston and London areas with additional expansion plans underway.

Buy -
SELLER

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 128 of 209
Sector (Consumer Products) 3 of 6
Type (Recapitalization) 4 of 4
State (New York) 7 of 9
Country (United States) 52 of 76
Year (2012) 7 of 9
Size (of disclosed) 3 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-04 Connolly

Atlanta, Georgia, United States

Connolly is a provider of technology-enabled recovery audit services in the United States, Europe, and Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-01 Serta Simmons Bedding

Doraville, Georgia, United States

Serta Simmons engages in designing, manufacturing and selling sleep products that give consumers the sleep they need to live the lives they want. Serta Simmons primary brands include Serta, Beautyrest, Simmons, and Tuft & Needle brands. Serta Simmons was founded in 2010 and is based in Doraville, Georgia.

Buy -
SELLER

Weston Presidio

Boston, Massachusetts, United States

Investor Investor

website


Category Private Equity Firm
Founded 1991
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Weston Presidio is a private investment firm focused on providing growth capital to later stage companies. The Firm looks to commit $10 to $50 million per investment to support growth initiatives, recapitalizations, and management-led buyouts. Sectors of interest include consumer products/services, business services, manufacturing and industrial, media/publishing, healthcare and technology. The Firm prefers to act as the lead investor, but will consider investing in select non-control minority positions. Weston Presidio was formed in 1991 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 37 of 52
Sector (Consumer Products) 3 of 6
Type (Recapitalization) 2 of 2
State (New York) 3 of 3
Country (United States) 35 of 49
Year (2012) 2 of 2
Size (of disclosed) 1 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-21 AMC

Leawood, Kansas, United States

AMC is a theatrical exhibition company. The Company operates more then 400 locations across North America and China. AMC was incorporated in 1920 and is based in Leawood, Kansas.

Sell $2.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-18 DISYS

McLean, Virginia, United States

DISYS is an IT staffing and consulting company with core services in IT Staffing and Consulting, Finance and Professional Services, ERP Services, and Infrastructure Support Services. As a global business partner, the company delivers high quality and consistent services at the best value to clients worldwide. DISYS is headquartered in McLean, Virginia, with numerous offices and delivery locations in North and South America, Europe, and the Asia Pacific region.

Buy -