Veronis Suhler Stevenson has sold London-based Thomsons Online Benefits, an SaaS provider of global employee benefits and employee engagement software for automated employee benefits administration. The buyer was Mercer, a Marsh & McLennan subsidiary. No financial terms were disclosed.
NEW YORK–(BUSINESS WIRE)–Veronis Suhler Stevenson (“VSS”), a leading private equity investment firm that invests in the information, business services, healthcare and education industries, today announced the sale of Thomsons Online Benefits, a global software-as-a-service company to Mercer, a wholly-owned subsidiary of Marsh & McLennan (NYSE: MMC). Financial terms of the transaction were not disclosed.
Founded in 2000 and headquartered in London, Thomsons Online Benefits is a SaaS provider of global employee benefits and employee engagement software for automated employee benefits administration. VSS initially invested in Thomsons Online Benefits in 2013 in partnership with ABRY Partners. During the investment period Thomsons Online Benefits achieved significant growth through customer wins and partner collaborations in the untapped global enterprise markets. “Many of the top global tech companies and top global brands now use Darwin™, the Thomsons benefits management and engagement platform, and the company is on a strong growth trajectory,” said Patrick Turner, a Managing Director at VSS.
“Mercer will be an excellent partner for Thomsons Online Benefits to continue to capture market share as the transformation of the way benefits are designed, communicated, and administered continues,” added Jeffrey Stevenson, Managing Partner at VSS.
Thomsons Online Benefits is a portfolio company of VSS Structured Capital II, and is one of many investments that VSS has completed in the broader Human Capital Management (”HCM”) sector.
VSS (www.vss.com) is a leading private equity investment firm that invests in the information, business services, healthcare, and education industries. VSS provides capital for growth, recapitalizations, strategic acquisitions and buyouts to lower middle market companies and management teams with the goal of building companies organically as well as through a focused add-on acquisition program. VSS makes privately-negotiated investments across the capital structure and has the ability to invest in situations requiring control or non-control equity, mezzanine and structured equity securities.