TowerBrook Capital Partners buys J.Jill

New York investment firm said Tuesday it will acquire J.Jill, the women’s fashion retailer based in Quincy.

“The sale of J.Jill reflects our industry leading success, having just completed our best sales year in history and 12 quarters of consecutive growth,” said the fashion company’s CEO.

TowerBrook Capital Partners signed an agreement to take over the retailer from the investment firm Arcapita and private equity firm Golden Gate Capital. Terms of the deal remain undisclosed.

“We are delighted to partner with TowerBrook,” said chief executive Paula Bennett, who will remain in her current role. “Their investment in J.Jill provides support for future development and the ability to maximize our potential as a brand and business.”

The J.Jill business includes 250 stores, a catalog and a website. TowerBrook’s portfolio of companies also includes the clothing brand True Religion. The J. Jill deal is expected to close in the second quarter this year.

Morgan Stanley and Houlihan Lokey acted as financial advisors to J.Jill. Macquarie Group acted as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to TowerBrook Capital Partners. Fully committed financing will be provided by Jefferies and Macquarie Group.