LO3 Capital Makes Significant Investment in CCRA International for Major Acquisition

LO3 Capital's Strategic Investment in CCRA International

In a notable move within the travel industry's financial landscape, LO3 Capital, a private investment firm, has announced its recent senior debt investment in CCRA International, Inc. This investment arrives at a crucial time as CCRA is set to acquire ABC Global Services, a venture that aims to consolidate their position as one of North America's largest travel network consortia.

Founded in 1974, CCRA International has established itself as a pivotal player in providing comprehensive travel solutions, offering a range of services that encompass hotel and air booking programs, call center operations, and global supplier marketing. This investment will enable CCRA to successfully complete its acquisition of ABC Global Services, allowing the integration of their over 58,000 hotel properties under the Preferred Hotel Program.

Dic Marxen, the CEO of CCRA International, expressed his enthusiasm regarding the acquisition, highlighting the long-standing relationship with ABC Global Services spanning nearly two decades. He stated, "Bringing our companies together creates even greater opportunities for our clients, and we're thrilled for this next phase of growth."

This acquisition is poised to significantly enhance CCRA's service offerings to over 10,000 travel agencies, while facilitating more than $7 billion in hotel bookings and $150 million in air bookings annually, tremendously supporting over 30,000 travelers each year.

Glenn Harrison, Managing Partner and Co-Founder of LO3 Capital, praised CCRA's leadership and the company’s proven track record in the travel sector: "Dic has built a remarkable business with a strong culture, consistent growth, and an enduring competitive advantage. We're excited to partner with him and the CCRA team as they continue to expand their leadership in global travel services."

LO3 Capital, known for its commitment to fostering growth in lower-middle market companies, led this financial initiative along with Tamarix Capital Partners, while Progress Partners served as the advisor for CCRA. This investment marks LO3 Capital's fourteenth venture since its inception in September 2022, reinforcing its focus on long-term value creation alongside management teams and private equity sponsors.

The firm targets businesses with an EBITDA of over $3 million, supporting various industries through financing options that encompass organic growth, acquisitions, recapitalizations, and ownership transitions. With offices in Nashville, New York, and Dallas, LO3 Capital continues to demonstrate its commitment to building sustainable growth paths for its partners.

For additional details on LO3 Capital’s projects and its approach towards transformative investments, visit LO3 Capital’s website.

In conclusion, LO3 Capital's strategic investment in CCRA International not only marks a promising development for both entities but also signals a significant evolution within the travel industry, as technology-enabled travel management continues to reshape service dynamics in the face of growing demand.