Party City Holdco

bankrupt

Retail — Thomas H. Lee Partners

Deal Terms

Entry Year2012

Entry EV$2.69B

Entry Multiple9x

Leverage6x

Debt Amount$1.6B

Outcome

Exit Year2023

Risk Metrics

LTV (est.)59%

Debt / EV0.59x

Notes

THL took Party City private for $2.69B (2012). IPO'd 2015 at $6B. $1.6B debt. Global helium shortage crushed balloon business. Filed Chapter 11 Jan 2023. LIQUIDATED all 800+ stores — 15,000+ jobs lost. Emerged briefly, then exploring second bankruptcy. THL loaded debt on a seasonal retailer with a single product dependency (helium balloons).

Sponsor

Partners Group$185B AUM