VSS backs US e-commerce business

The New York and London-based media and communications specialist has backed SureSource, a US provider of outsourced e-commerce services for consumer product businesses.

Veronis Suhler Stevenson has invested an undisclosed amount in SureSource, a provider of internet and telephone-based services for branded consumer product manufacturers. The deal is the fifteenth platform acquisition for the firm’s fourth buyout fund, raised in 2005, and which has $1.3 billion of committed capital.

SureSource provides end-to-end solutions for website design and hosting, order and payment processing, warehousing, inventory management and other services. Its clients include UK manufacturers and retailers like Conair, KitchenAid, Atkins, Guinness and Black&Decker.

Michael Kessler, managing director at VSS, said: “SureSource is well-positioned to benefit from increased broadband penetration, consumers increasingly shopping for and researching products online and from the growing demand for direct-to-consumer outsourced e-commerce solutions.”

Veronis Suhler Stevenson is based in London and New York. Since its inception in 1987, the firm has managed five private equity funds with total committed capital of $2.8 billion: four buyout funds and one mezzanine/structured capital fund.

The firm recently made its first Spanish investment when it bought a minority stake in Zed, a mobile content provider, in April. It made its tenth investment from its structured capital fund two weeks ago when it invested $24 million in UK marketing business Loewy Group.