Middle market media private equity firm Veronis Suhler Stevenson is losing its co-founder John J. Veronis, who has withdrawn from the partnership. Veronis’s partnership interest has been redeemed by other owners of the firm.
Veronis [pictured], who served as the firm’s chairman and co-CEO, intends to fulfill his existing investment commitments to VSS funds as well other funds for which he serves as a limited partner. “I take enormous pride in the firm I helped to create," Veronis said in a statement announcing his departure. “My withdrawal from participation in the firm, which effectuates a long-contemplated transition, is another step in the evolution of VSS, and I wish the firm and its partners and employees success in their future activities."
Fellow co-founder John Suhler will continue to serve as the firm’s founding partner and president. Jeffery T. Stevenson will continue to serve as the firm’s managing partner.
Veronis and Suhler founded VSS in 1987. The firm has managed five private equity funds: four equity buyout funds and a structured capital fund. The firm has invested in more than 50 platform companies in the media, communications, information and education industries (including its acquisition of Advanstar Communications for $1.15 billion in 2007), representing a portfolio with a total value of more than $10.2 billion.
VSS is an investor in FOLIO: parent company Red 7 Media.