Four Seasons Group, an air conditioning building services group, has acquired JCW for an undisclosed sum. JCW is a heating, ventilation and air conditioning business operating in the UK from the South West across to Cambridgeshire. Barclays Ventures made an initial investment in Four Seasons Group in May 2007 and has supported it with a further equity injection to fund the acquisition. The acquisition of JCW adds a further GBP12m of revenue resulting in combined proforma revenue for the group in excess of GBP25m. This places Four Seasons Group as one of the largest air conditioning led building services groups

HarbourVest Global Private Equity, a closed-end investment company listed on Euronext Amsterdam, saw a 6.2 per cent increase in its net asset value in November.  The estimated NAV at 30 November 2009 is USD696.9m or USD8.40 per share, compared with USD7.91 per share at 31 October 2009. The previous month saw a 0.1 per cent growth in NAV.  HarbourVest says the upswing is on the back on strong Q3 valuations of portfolio companies. HarbourVest is also seeing continued IPO and M&A activity.

Matrix Private Equity Partners has funded the GBP12m management buyout of CB Imports, a UK importer and distributor of artificial flowers and floral sundries.  This is the fourth transaction that Matrix has completed since the summer, following the MBO of Westway Cooling and the realisations of Tottel Publishing and Pasta King.   The CB Imports group of businesses was founded in 1990. Operating from a national distribution centre in Leeds, the company is an importer and distributor of artificial flowers, floral sundries, glassware, giftware, basket ware and Christmas decorations.  The company also operates a division of wholesale cash and carry

Benson Elliot Capital Management, a private equity real estate firm, has completed a EUR6m office-to-hotel conversion programme at the Deutsch-Japanisches Center in Düsseldorf.  The project transformed 5,000 square metres of office space into 85 executive hotel rooms and 650 square metres of convention space that can accommodate up to 1,000 delegates at the city’s 5-star Nikko Hotel.  With a total of 386 rooms the Nikko Hotel is now the largest downtown hotel in Düsseldorf.   Benson Elliot acquired a controlling interest in the Deutsch-Japanisches Center, which houses the Nikko Hotel, on behalf of Benson Elliot Real Estate Partners II in

Private equity firm 3i has celebrated PCD Stores’ successful initial public offering on the Hong Kong Stock Exchange. The company is a rapidly growing department store group in China with an emphasis on high-end luxury products. PCD Stores offered 1.5 billion shares under the global offering, raising USD377m (HKD2.925bn) before the exercise of over-allotment option. The IPO values the company at USD1bn (HKD7.8bn). The retail tranche was 43 times oversubscribed. In October 2005, 3i invested USD31m in the company, with Anna Cheung (pictured), 3i partner, taking a board role to support PCD’s growth and expansion. During 3i’s investment period, PCD

Artfact, an online live auction marketplace, has closed on USD13m of growth capital financing provided by Boston-based Commonwealth Capital Ventures and Ascent Venture Partners. Simultaneously, Artfact has merged with Auctionzip, the world’s largest directory of live auction listings. In addition to facilitating the merger, the growth capital funding will be used to expand product development, marketing and sales efforts. Artfact and Auctionzip provide over 16,000 estate auctioneers of all sizes worldwide with a complete range of technology and marketing services including online live bidding and integrated auction management software. Through their websites Auctionzip.com, Artfact.com, and Invaluable.com, the companies allow two

LDC, a UK mid-market private equity house, is supporting one of the new Formula One racing teams led by Manor Motorsport and WR Technology, which will compete for the first time in the 2010 FIA Formula One World Championship.  The investment is consistent with LDC’s core investment principles of seeking out unusually attractive market segments.    Manor Motorsport has been successful in Formula 3 and has identified and nurtured future FI champions such as Lewis Hamilton (pictured) and Kimi Raikkonen. Manor beat off fierce competition from as many as 20 entrants to secure Formula 1 entry. Next season, Manor will

State Street has been selected by Illinois-based Calamos Investments to provide custody, fund administration and securities lending services to Calamos’ collective fund structures. The funds include open and closed end mutual funds, Dublin Ucits and private funds exceeding USD21bn in assets. With this consolidation, State Street now provides full back-office services for all of Calamos’ collective fund structures.  “By further consolidating our operations with State Street, it provided us with a seamless model which has resulted in additional efficiencies in our processes, enabling us to better serve our clients,” says Nimish Bhatt, senior vice president of Calamos Advisors and chief

Venture capital firms have agreed to sell LifeSize Communications, a US-based provider of high definition video communications products, to Logitech International, a Switzerland-based manufacturer of computer peripherals. Venture capital firms include Tenaya Capital, Austin Ventures, Norwest Venture Partners, Redpoint Ventures, Sutter Hill Ventures and Pinnacle Ventures. Logitech will acquire LifeSize for a cash consideration of USD405m. Following the transaction, LifeSize will operate as a separate division of Logitech in Austin, US. Morgan Stanley is acting as financial adviser to Logitech on the transaction. The acquisition will enable Logitech to extend its leadership position in video communication beyond the desktop.