Endless LLP entered into a definitive agreement to acquire certain international operations of Party City Holdco Inc. (NYSE:PRTY) for $59 million on December 09, 2020. The transaction value of approximately $59 million, includes $45 million of cash proceeds and approximately $14 million of excess cash and other adjustments to be returned to Party City Holdco Inc. The business being sold includes the Company’s international wholesale, retail and e-commerce businesses in the U.K., Ireland, Germany, Australia, New Zealand and Asia, which operate under a number of trade names, including Amscan International, Party Delights, and Livario, as well as several website brands in Europe. The businesses being sold will be led by Amscan International’s existing management team of Gary Panons, Chief Executive Officer of Amscan International, and Joe Hennigan, Chief Financial Officer/Chief Operation Officer of Amscan International. The businesses being sold represent approximately US$250 million of the Company’s revenue for the fiscal year ending December 31, 2019. The transaction is subject to customary approvals and closing conditions and is expected to close by the end of calendar year 2020. As per filing on January 12, 2021 the transaction is expected to close by January 31, 2021. Party City intends to use the transaction proceeds and returned excess cash for general corporate purposes. Kathy Steiner of Kurzman Eisenberg Corbin & Lever, LLP is serving as Party City’s legal counsel in the US, and Edward Persse, Vicky Dudding, Seamus McKimm, Will Robertson, Shona Toms, Robert Guthrie, James Hamon and Simon Neill of Osborne Clarke acted as legal advisors in the UK. Jonathan Jones and Mark Yeo of Squire Patton Boggs (UK) LLP acted as legal advisors and Andrew Coticelli, Julie Campbell and James Izzard of Deloitte UK acted as accountant to Endless LLP. Sam Fuller, Oliver Vaughan and Mitchell Parr of GCA Altium Limited acted as financial advisor to Endless LLP. Endless LLP completed the acquisition of certain international operations of Party City Holdco Inc. (NYSE:PRTY) on January 30, 2021. The closing follows the receipt of regulatory approvals and satisfaction of closing conditions.