Deals
Thomas H. Lee Partners Buys Party City for $2.69 Billion
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Thomas H. Lee Partners LP agreed to buy a majority stake in Party City Corp. from its private-equity owners in a transaction valued at $2.69 billion including debt, after the largest U.S. party-supplies retailer filed for an initial public offering that hasn’t been completed.
Thomas H. Lee will own about 65 to 66 percent of the company, said a person familiar with the matter who declined to be identified because the details haven’t been made public. Party City’s existing owners -- Advent International Corp., Berkshire Partners LLC, Weston Presidio and management -- will hold minority stakes, Boston-based Thomas H. Lee said today in a statement announcing the agreement.