Thomas H. Lee Takes $2.7B Majority Stake In Party City

Law360, New York (June 5, 2012, 2:01 PM EDT) -- Private equity heavyweight Thomas H. Lee Partners LP picked up a 65 percent stake in New Jersey-based Party City Holdings Inc. from a trio of fellow Boston private equity firms in a recapitalization deal valued at $2.69 billion, according to an announcement Tuesday.

The sellers — Advent International Corp., Berkshire Partners LLC and Weston Presidio — will retain the remaining 35 percent share of the United States' leading party goods maker, as will Party City management, according to a statement THL issued.

THL did not say...
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