Party City Holdings Inc. is still on track for its initial public offering. This is the party super-store for all events from Halloween to graduation to birthdays and on and on. It has also been public before and was taken private in a private equity buyout.
The stock offering terms have not yet been set but it will list on the New York Stock Exchange under the symbol “PRTY”. Its underwriting group is massive: book-runners are listed as Goldman Sachs & Co.; BofA Merrill Lynch; Barclays Capital; and Deutsche Bank Securities. Others in the syndicate are Credit Suisse; Morgan Stanley; Wells Fargo Securities; Robert W. Baird; William Blair & Company; RBC Capital Markets; and Stifel Nicolaus Weisel.
The larger combined company noted, “The acquisition of Party City represented an important step in our evolution. Over the last five years, we have established the largest network of party supply stores in the United States with over 1,200 locations consisting of approximately 800 party superstores (including approximately 230 franchised stores), principally under the Party City banner, and a temporary Halloween network of approximately 400 locations, principally under the Halloween City banner.”
Party City has increased its consolidated revenues from $1.015 billion in 2006 to $1.599 billion in 2010. Full details are on more recent financial data can be found here in its third amended SEC filing.
JON C. OGG
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