Private equity firm TowerBrook Capital Partners LP is buying women's retailer J.Jill for an undisclosed amount.
J.Jill, headquartered in Quincy, Massachusetts, sells women’s clothing through 250 stores, catalogs and online. The company is backed by investment firms Arcapita and Golden Gate Capital, which invested in 2009.
J.Jill isn't TowerBrook's first retail investment the firm bought denim company True Religion in 2013, and is also invested in French apparel retailer Kaporal. The London and New York-based investment firm has about $7.5 billion under management. The firm focuses mainly on investing in European and North American businesses.
Other recent retail deals include Yoox's deal for luxury e-commerce business Net-A-Porter, and Interparfums acquisition of luxury brand Rochas from Proctor & Gamble (NYSE: PG). Outside of the luxury space, Saban Brands bought Australian surfwear business Piping Hot, and Running Specialty Group bought retailer Indiana Running Co. For more on the sector, see Retail Reboot: Investors Snatch Up E-Commerce Services.
Morgan Stanley and Houlihan Lokey provided financial advice to J.Jill. Macquarie Group was TowerBrook's financial adviser, while Paul Weiss Rifkind Wharton & Garrison LLP acted as legal counsel.