Background
- Amscan International (Amscan) - headquartered in Milton Keynes - is an international designer, manufacturer, distributor and omnichannel retailer of party supplies, balloons and costumes
- Endless LLP (Endless) is a UK-based transformational private equity investor with offices in Leeds, London and Manchester, looking to support buyouts, non-core acquisitions from larger groups, turnarounds and financial restructurings
- In January 2021, Endless supported the management buyout of Amscan from its former parent Party City HoldCo Inc
Process
- DC Advisory (DC) was engaged by Amscan and Endless to provide refinancing advice for Endless’ investment in Amscan
- During this transaction, DC used its deep sector knowledge and embedded relationships to engage a range of lenders
- DC advised Amscan and Endless on all interactions with potential lenders and led commercial negotiations to ensure the optimal funding package was obtained
Outcome
- Following a lender outreach process, DC successfully secured an attractive term loan and asset-based lending facility from PNC, which was agreed in November 2021
- The funding package will enable Amscan to build on a successful year of trading, and will support the business throughout the next stage of its growth
- This transaction demonstrates the strength of DC’s debt advisory and restructuring capabilities, and adds to our sector credentials in the Consumer, Leisure & Retail space
“We are delighted to have worked with Rob Jones and the DC team on this transaction. Their in-depth knowledge of the sector and insights, together with strong relationships in the lender universe and high calibre execution capabilities, were incredibly influential in helping us secure our funding package. We look forward to working with DC again.”
“It was a genuine pleasure to advise Amscan and Endless on this transaction. Amscan is an excellent business which has gone from strength to strength since Endless’ investment. We look forward to seeing the business continue on its exceptional trajectory with PNC as its new financing partner.”