Lakeview Equity Partners, a Milwaukee-based private equity fund, has completed a deal to acquire the event housing and registration assets of Ambassadors, the Atlanta-based events trave
Lakeview Equity Partners, a Milwaukee-based private equity fund, has completed 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, 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.
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,’ says Joe Cesarz, vice president of Lakeview Equity Partners. ‘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.’
Lakeview Equity Partners is a USD40m-plus private equity fund that focuses on investments in traditional, Midwest-based, middle market companies valued from USD3m to USD50m. Lakeview Equity makes investments in transactions that support ownership change; provide capital for growth; and create ownership change opportunities for managers and employees.
