Bain Capital Completes Acquisition of BELLSYSTEM24
On November 14, 2009, Citigroup Capital Partners Japan Ltd., a subsidiary of Citi, entered into a tender offer agreement with an affiliate of Bain Capital under which it received cash consideration for its 93.5% stake in BELLSYSTEM24. The total transaction was valued at approximately 100 billion yen (equivalent to US$1.1 billion), making it the largest buyout in Japan in nearly two years.
"Bain Capital is dedicated to the continued success of BELLSYSTEM24, and we look forward to working with the management team to grow the business," said Yuji Sugimoto, a managing director at Bain Capital. "As the Japanese call center market continues to evolve, we believe there are significant opportunities to expand BELLSYSTEM24's market leadership by carefully serving the needs of customers across a variety of industries, and by offering flexible and efficient services that help make businesses more successful."
Bain Capital has made investments in a variety of leading companies with principal or significant operations in Japan, including MEI Conlux, Sun Telephone, D&M Holdings, Toys "R" Us, and Burger King. The firm also has prior experience in the call center industry, having invested successfully in Stream International, a leading U.S. call center company. Bain Capital established offices in Tokyo in 2006, and has a team of 20 investment and operations professionals in Japan to pursue investment opportunities and work with its portfolio companies.
Financing for the transaction was provided by Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mizuho Corporate Bank and others.
About BELLSYSTEM24 Inc.
BELLSYSTEM24 Inc. provides marketing and customer service solutions to its clients through a nationwide network of contact centers in Japan. The company's service offering includes e-commerce and e-support services; customer relationship management ("CRM") and e-CRM support services; research and marketing promotional services; content planning, production, distribution, and information services; pharmaceutical and medical support services; and communication-based marketing services. These services are offered to clients in various industries, including telecommunications, cable, broadband, satellite broadcasting, Internet services, technology, and financial services.