Party King adds Claes Hedlund as investor in the company.

Party King, a Gävle, Sweden-based company operating an ecommerce business, announced entering into an investment agreement for selling a part of the company to local angel investor Claes Hedlund.

The deal, which has the financial details undisclosed, was made by the two maine founders and owners, Joel Svensson and Jeff Jansson, who each sell 20 percent of their shares, pro rata, in Partyking AB. After the ownership changes, Joel Svensson, who is also CEO of the company, controls 62 percent of the Party King. The remaining part is distributed over three more owners.

Party King built an online operation selling party accessories. In 2018, the company was breakeven at sales of SEK 166M ($17M).