US sponsor Veronis invests in UK-based SaaS firm Thomsons Online Benefits

US private equity firm Veronis Suhler Stevenson (VSS) said today it had made an investment in UK benefits management software-as-a-service (SaaS) provider Thomsons Online Benefits Ltd, without disclosing its size or value.

The investment in Thomsons, which provides SaaS-based benefit and pension administration, workflow and reporting solutions, as well as ancillary consulting services, was made via VSS’s second structured capital fund VSS Structured Capital II, in conjunction with ABRY Partners LLC’s takeover of Thomsons, VSS said.

The move will allow Thomsons to grow in the UK and worldwide, said VSS Europe partner Morgan Callagy.

Thomsons, which is based in London and has offices also in Singapore and Romania, caters to UK mid-market and multi-national corporations.