Veronis Suhler Stevenson, a private equity and mezzanine fund player, is close to acquiring two companies for its fourth private equity fund. Jeffrey Stevenson, managing partner and co-ceo in New York, said the companies, both in the $100 million revenue range, will be acquired by VSS Communications Partners IV. “We should have two more done in the next 30 days,” he said.
The global media and communications investor closed VSS Communications Partners IV May 1 with commitments totaling $1.3 billion. Stevenson and five other firm partners--John Veronis, John Suhler, Marco Sodi, Gerry Benford and Scott Troeller--manage the fund along with 30 investment pros in New York and a 10-person board of advisors with members in the U.S., Canada and Europe.
Stevenson declined to comment on specifics regarding the approaching acquisitions. The firm has consistently invested in middle market companies across media, communications and education, and built them with add-on acquisitions. VSS Communications IV has made seven platform investments, including Berliner Verlag, a German regional newspaper publisher, and Infobase Publishing, which publishes online and print reference materials for the school library markets.
With the closing of the fund, VSS has $2.8 billion of committed equity capital under management. Its third private equity fund capitalized at $1.02 billion in 1999. “Our objective was to develop an investor base to match our portfolio,” Stevenson said.