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New York- and Houston-based Frosch International Travel this week announced that EagleTree Capital had taken an undisclosed minority stake in the agency. Frosch has been bullish on acquisitions during the pandemic, purchasing CorpTrav and Luxe Travel last year and taking a majority stake in Plaza Travel. Frosch CEO Bryan Leibman spoke to BTN editorial director Elizabeth West about the investment and the company s plans amid the industry downturn and recovery. They were joined by Albert Taras, founder and CEO of TCG Consulting, which Frosch acquired in 2019. The following is an edited excerpt of that conversation.
FROSCH Adds Growth Capital with Investment from EagleTree Capital
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NEW YORK, Feb. 2, 2021 /PRNewswire/ Frosch International Travel ( FROSCH ), a leading travel management company, today announced that EagleTree Capital ( EagleTree ) has made a substantial growth investment in the firm. The Leibman Family will continue to control FROSCH with Bryan Leibman as its President & CEO and EagleTree will hold a minority position. We are delighted that EagleTree s investment further reinforces our strong balance sheet so we can continue to pursue M&A, invest in our infrastructure, technology, and the core of our business as well as focus on our key customers (corporate, leisure, entertainment and groups) and independent contractors, said Leibman. We see tremendous opportunities in partnering with EagleTree, an investor that not only understands our goals, our culture, and our strategy, but also respects our commitment to indepen
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Private equity firm EagleTree Capital has taken a minority stake in New York City- and Houston-based travel management company Frosch, the companies are set to announce today. EagleTree, a New York-based, middle-market private equity firm, manages approximately $3 billion of capital.
[Disclosure: EagleTree owns Northstar Travel Media, parent company of The BTN Group and Business Travel News.] The terms of the transaction were not disclosed.
Frosch ranked No. 14 on Travel Weekly US s 2020 Power List based on self-reported total revenue of $2.4 billion in 2019, with two-thirds of that tagged as corporate travel.
Mergers and acquisitions have been a key growth strategy for Frosch since its founding in 1972 and has continued during the Covid-19 pandemic. The company last year acquired CorpTrav and Luxe Travel and took a majority stake in Plaza Travel. Frosch acquired TCG Consulting in 2019, bringing advisory insights to match its travel operations expertise.