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Golden Gate Capital to sell majority stake in J. Jill to Arcapita

Golden Gate Capital is to sell its majority stake in J. Jill to an affiliate of Arcapita Bank BSC.

J. Jill, a leading multi-channel retailer of women’s apparel, will continue to be led by President and CEO Paula Bennett and the current management team. As part of the transaction, Golden Gate Capital will remain a minority shareholder of the company.

“We have enjoyed a very successful partnership with Paula Bennett and the entire J. Jill team,” says Joshua Olshansky, a Managing Director of Golden Gate Capital. “J. Jill is a fantastic brand and, given their experience in the sector, Arcapita is well positioned to continue building upon the company’s long-term growth plan.”

Scott Buschmann, a Principal of Arcapita, says: “We look forward to working closely with Paula and her team to continue their success and help the company expand its current operations and open new store locations. J. Jill occupies a distinct space in women’s branded apparel. We believe that the company’s strong brand equity, deep customer loyalty and proven multi-channel strategy position it extremely well for continued expansion.”

Bennett says: “We have worked very closely and successfully with Golden Gate Capital to re-energise the J. Jill brand and look forward to partnering with Arcapita to continue our strong momentum. This transaction is a tribute to the more than 2,800 J. Jill associates whose dedication to our customers has made our company’s success possible.”

Bank of America Merrill Lynch acted as financial advisor to J. Jill on the sale and Kirkland & Ellis LLP acted as legal advisor on the transaction.

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