All dressed up

2 March 2017 By Lauren Silva Laughlin Follow @TheRealLSL

J.Jill’s IPO may quintuple its private-equity owner’s investment. The company has stitched together a better set of financial threads than many rivals, but faces the same threats all retailers do. Buyers hoping to replicate TowerBrook’s successful design are pushing the seams.

This content is for Subscribers only

Context News

Women’s apparel company J.Jill on Feb. 27 set the price range for its initial public offering at $14 to $16 a share. The company, which is owned by private-equity firm TowerBrook Capital Partners, aims to sell 11,666,667 shares. At the midpoint of the range, the IPO would raise $175 million and value the retailer’s equity at $656 million. The company currently also has $277 million of debt.

BofA Merrill Lynch, Morgan Stanley and Jefferies are serving as joint lead bookrunners for the IPO.

TowerBrook Capital Partners bought J.Jill in 2015 for $396 million from Golden Gate Capital, which had handed over $75 million for the company in 2009. TowerBrook paid itself a $70 million dividend from J.Jill in May 2016.

Email a friend

Please complete the form below.

Required fields *