Lakeview Equity Partners of Milwaukee has acquired the event housing and registration assets of Ambassadors, an Atlanta-based event travel services company. No financial terms were disclosed.
Lakeview Equity Partners, LLC, a Milwaukee-based private equity fund, today announced the completion of a deal to acquire the event housing and registration assets of Ambassadors, the Atlanta-based events travel services company. With this transaction, both Ambassadors and Travel Technology Group, LLC, the Chicago-based event housing and travel provider, will operate under the Lakeview umbrella, each continuing to offer tailored event housing solutions to the meetings and events industry.
Lakeview Equity Partners provided the capital to complete the acquisition and will now be the majority shareholder of the two prominent event services providers. In April 2008, Lakeview Equity Partners acquired a majority interest in Travel Technology Group after recognizing the potential growth of the company and its proven success managing event services for 25 years.
Both Ambassadors and Travel Technology Group will operate as separate entities. Ambassadors will remain based in Atlanta, continuing to use the same event services team and proprietary event management technology. Likewise, Travel Technology Group will remain based in Chicago, with the same staff, processes and technology solutions. The executive management teams will remain in place at both companies.
“We’re committed to driving service excellence in the event planning industry,” said Joe Cesarz, vice president of Lakeview Equity Partners, LLC. “Both companies are innovative market leaders, and will clearly continue to define market standards by expanding their commitment to outstanding customer service to not only their clients, but their hotel and registration partners. Our goal is to continue delivering innovative services and products to the market.”
About Lakeview Equity Partners, LLC
Lakeview Equity Partners, LLC, is a $40 million-plus private equity fund that focuses on investments in traditional, Midwest-based, middle market companies valued from $3 million to $50 million. Lakeview Equity makes investments in transactions that support ownership change; provide capital for growth; and create ownership change opportunities for managers and employees. The firm’s principals have more than a century of collective experience as successful entrepreneurs, chief executive officers and investors, with a broad base of financial, transactional and operating experience. Lakeview Equity’s mission is to identify and invest in strong, well-managed middle market companies to achieve continued growth and profitability.
Ambassadors, LLC provides travel and event services for corporations, associations and tradeshows. For its nationwide roster of corporate clients, the company provides comprehensive hotel reservation, registration, travel services and technology for meetings, conventions and tradeshows.
About Travel Technology Group, LLC
Travel Technology Group provides the events industry with strategic, creative and effective solutions. Hotel contract negotiations, room block management, audits, custom reports and event marketing are delivered by a personable, professional and passionate team. Powered by the proprietary COMPASS Reservation System®, Travel Technology Group has provided event services for Reed Exhibitions, National Restaurant Association, Chicago Convention & Tourism Bureau, the Republican National Convention, the PGA of America, and many others.