Bain Capital has signed definitive agreement to acquire Citigroup’s controlling stake in Japan’s call centre operator, BellSystem24, in a tender offer valuing the company at approximately JPY100bn (USD1.1bn). Bain Capital has received committed financing for the transaction from Japan’s largest banks – Sumitomo Mitsui Banking, The Bank of Tokyo-Mitsubishi UFJ and Mizuho Corporate Bank. The transaction, upon completion, would be the largest buyout in Japan in nearly two years. "BellSystem24 is the industry leader in the Japanese call centre market. We believe there is a significant opportunity to grow the business as companies continue to look for ways to not

CambridgeSoft has completed a private equity investment by Health Evolution Partners and a follow-on investment by Goldman Sachs. CambridgeSoft is a supplier of discovery, collaboration, and knowledge management research IT enterprise solutions, desktop software, scientific databases and consulting services for the pharmaceutical, biotechnology, and chemical industries. Health Evolution chairman David J. Brailer says: "Pharmaceutical and biotechnology companies increasingly rely on information technology to create new therapies. We are enthusiastic to be part of CambridgeSoft, the leader of that change." In connection with the investment, Adam Grossman will represent Health Evolution Partners on the CambridgeSoft board of directors. "I am delighted

Sun Capital Partners, a private investment firm specialising in leveraged buyouts and other investments in companies, has sold its affiliated portfolio company Timothy’s Coffees of the World to Green Mountain Coffee Roasters for approximately USD157m in cash, subject to adjustment. Timothy’s is a supplier of specialty coffees to offices, hotels, grocery stores, retailers and food service establishment throughout Canada and the US. Immediately prior to the purchase, Timothy’s sold its franchise restaurant operation to Bruegger’s Enterprises, another Sun Capital portfolio company which operates fast casual neighborhood bakery-cafes in 24 states. The restaurant operation includes 139 locations across Canada doing business

Investcorp’s Gulf Opportunity Fund is to acquire a 20 per cent stake in Gulf Cryo, the Al Huneidi family-owned company that manufactures industrial, medical and specialty gases in the Middle East. Gulf Cryo was founded in Kuwait in 1953 by the Al Huneidi family and has expanded over two generations to become one of the most successful family businesses in the Gulf.  Under the leadership of its current chairman and chief executive Amer Salim Al Huneidi, Gulf Cryo has expanded its presence from Kuwait into the UAE, Jordan, Oman, Qatar, Saudi Arabia, Syria and Pakistan. Gulf Cryo produces and transports

Windsor-based Cogenta Systems has opened a data management centre in Newcastle following a GBP800,000 investment, including GBP350,000 by venture capital firm NorthStar Equity Investors. The investment by NSEI came from its Co-Investment Fund, while an additional GBP450,000 was raised by Hotspur Capital Partners. Cogenta Systems, which sits in the price comparison sector, has developed technology which gathers product price and availability information. The investment will be used to fund the opening of the North Eastern division of the Cogenta Systems and allows the company to provide customers with the best deals online at Sccope.com or to their mobiles with the

A study by Preqin has found that 89 per cent of private equity investors in Central and Eastern European focused funds intend to maintain or increase their exposure to the region over the longer-term. Over the past decade, the private equity market in Central and Eastern Europe has drawn a growing amount of interest from investors, culminating in a significant leap in fundraising in 2007, when 36 private equity funds with an exclusive focus on the region reached a final close, securing an aggregate EUR8.1bn. However, fundraising in 2008 was less successful and saw a return to the aggregate commitment

HarbourVest Global Private Equity, a closed-end investment company listed on Euronext Amsterdam, has reported an estimated net asset value of is USD656.4m, or USD7.91 per share, as at 31 October 2009. This represents a 0.1 per cent increase from the 30 September 2009 estimated NAV per share of USD7.90. The increase resulted primarily from valuation increases for privately-held companies in HarbourVest direct funds (approximately USD0.04 per share) as part of the portfolio was revalued to reflect 30 September 2009 results, as well as foreign currency movement related to non-US dollar-denominated holdings (USD0.02 per share). These gains were partially offset by

Online real estate broker Redfin has completed a USD10m series D financing led by Greylock Partners. Existing Redfin investors Madrona Venture Group, Draper Fisher Jurvetson, Vulcan Capital and The Hillman Company also participated in the round. This new investment brings the total capital raised by Redfin to USD30.8m. James Slavet (pictured), a partner with Greylock and former operating executive at Yahoo, joins Redfin’s board of directors. Greylock, which recently announced its 13th fund, has supported hundreds of successful technology startups, 150 of which have gone on to public offerings. Among Greylock’s current consumer investments are digg, Facebook, LinkedIn, Pandora and