Part 5/10:
In 2005, Party City was taken private by Weston Presidio and began an acquisition spree, further entrenching its market dominance. However, with new ownership came significant amounts of debt, as private equity firms often leverage borrowings to finance their acquisitions. By 2012, under new ownership, Party City reached extraordinary heights in terms of revenue, leading to an acquisition by Thomas H. Lee Partners for a staggering $2.69 billion. Yet, the considerable debt loaded onto the company would prove burdensome.