SureSource L.L.C., a Shelton company that maintains corporate e-commerce sites, has sold a majority stake to Veronis Suhler Stevenson L.L.C.
LBO Wire reported the deal”™s value at $75 million, with financing provided by Merrill Lynch Capital.
SureSource indicated it would spend some of its new capital on acquisitions.
The company stocks consumer products and replacement parts, allowing its corporate customers to obviate maintaining inventories of hard-to-find products. The company also runs online marketing campaigns for its clients.
Veronis Suhler Stevenson (VSS) is based in New York City; its portfolio companies include Red 7 Media L.L.C., a Norwalk company that publishes trade publications covering the media and conference industries.
“SureSource holds a unique position in a fragmented industry,” said Michael Kressler, managing director of VSS, in a prepared statement. “It is one of very few providers able to offer a complete outsourced solution for product manufacturers that don”™t want to tie up resources in a noncore competency.”
Todd Holson founded SureSource in 1989, after Bain Capital L.L.C. bought out his father”™s photo-album company in Wilton, with the deal bearing the fingerprints of Bain founder and 2008 presidential candidate Mitt Romney.
Boston-based Bain immediately spun out the company”™s telephone customer-service operation, which specialized in locating hard-to-find album refill pages among other items.
SureSource broadened its service line, with its first major customer cooler-manufacturer Igloo Products Inc. of Texas. SureSource customers now include Towson, Md., toolmaker Black & Decker Corp., Irish brewer Guinness & Co., and styling-product vendor Conair Corp., which currently is closing a large office in Stamford.
Today, SureSource is based in Shelton, where it employs 170 people in a call-center and distribution warehouse.
Â
