Party City Holdings, a vertically integrated provider of party supplies with 800 locations in the US, updated its financial results in a filing with the SEC on Monday. For the nine months ended September 30, 2011, revenues increased 17.9% to $1.2 billion. Nearly half the increase (45%) came from international sales, which reached $146 million following the acquisitions of UK-based Christy's Group in September 2010 and Germany-based Riethmüller in January 2011.
Party City was acquired by private equity firms Berkshire Partners (36% pre-IPO stake) and Weston Presidio (17%) in 2004. Private equity firm Advent International subsequently acquired 38% (now 37%) of the company in 2008. The Elmsford, NY-based company made its initial filing in April 2011. Goldman Sachs, BofA Merrill Lynch, Barclays and Deutsche Bank Securities are the lead underwriters on the deal.
