E-fulfillment services company SubmitOrder.com said that Silver Lake Partners and The Barksdale Group have agreed to
invest $75 million in the company to acquire a majority stake.
The funding will be used to support rapid expansion of distribution centers
and IT infrastructure in 2000, the company said.
“We chose Silver Lake Partners and The Barksdale Group to become our partners
because of their industry expertise, relationships, relevant operations
experience, and capital that will enable SubmitOrder.com to become the leader
of and set the standard
for e-fulfillment services,” said Richard Langdale, SubmitOrder.com founder.
SubmitOrder.com is a pure play e-fulfillment service provider targeting
retailers, virtual
stores and manufacturers.
The company provides e-fulfillment customers with
everything from Web site development to inventory management, order
fulfillment and processing, “pick, pack and ship” services, and integrated
call center services.
“SubmitOrder.com is the perfect first deal for Silver Lake,” said Roger
McNamee, Silver Lake partner and co-founder. “If Internet commerce is to
reach its full potential, a world class player must emerge to provide
third-party fulfillment services. SubmitOrder.com has demonstrated both the
vision and ability to execute.”
“The mandate of The Barksdale Group is to invest in companies which define
and address new e-commerce market opportunities. We predict that the outcome
of this holiday shopping season alone will validate the need for an
independent Internet-based fulfillment service,” said Jim Barksdale, partner
of The Barksdale Group.
SubmitOrder.com said its customers include Zany Brainy, Limited Too,
indulge.com, goodhome.com, and “certain Fortune 500 manufacturers.”