LO3 Capital Makes Strategic Investment in CCRA International
LO3 Capital, a dynamic private investment firm, is making waves with its recent senior debt investment in CCRA International, Inc. This relationship is pivotal for CCRA, a technology-driven travel services platform, as it progresses towards acquiring ABC Global Services. This acquisition is set to form one of North America's largest travel network consortia.
Enhancing Travel Services Through Strategic Acquisitions
The partnership not only marks a significant step for CCRA but also adds immense value through ABC's Preferred Hotel Program, which features nearly 60,000 hotel properties. This expansion will enable CCRA to enhance its services to over 10,000 travel agencies, facilitating an impressive yearly total of more than $7 billion in hotel bookings and significant air travel transactions exceeding $150 million. Furthermore, it will support more than 30,000 travelers each year, showcasing the scale at which CCRA operates.
CCRA's Comprehensive Travel Solutions
Catering to more than 10,000 travel agencies worldwide since its founding in 1974, CCRA specializes in a private booking ecosystem that links agents with leading hotel brands and airlines using advanced technology. Their ability to offer preferred rates and lucrative commission structures across 58,000 hotel properties and 38 international airlines significantly strengthens travel agencies' market positions.
Leadership's Vision and Growth Prospects
Dic Marxen, CEO of CCRA International, expressed enthusiasm about the collaboration with ABC Global Services, stating, "After nearly two decades of working together, this merger creates incredible new opportunities for our clients, which excites us for the future."
Glenn Harrison, Managing Partner of LO3 Capital, lauded Dic’s achievements, underscoring the strong culture and consistent growth within CCRA that positions the company well for expanded dominance in the travel service sector.
Investment Strategy and Partnerships
As part of this strategic move, LO3 Capital led the financing of this transaction alongside Tamarix Capital Partners and received advisory support from Progress Partners, a respected investment bank located in Boston. This collaboration marks LO3 Capital's fourteenth investment since its launch in September 2022, underscoring its commitment to fostering long-term value alongside management teams and private equity sponsors.
About LO3 Capital
LO3 Capital is a minority-owned private investment firm dedicated to empowering lower-middle market enterprises to achieve growth. With offices in major business hubs like Nashville, New York, and Dallas, they focus on companies boasting over $3 million in EBITDA across various sectors. The firm collaborates closely with management and private equity firms to provide financing for organic growth, acquisitions, ownership transitions, and recapitalizations. Formerly part of Live Oak Growth Capital, LO3 Capital continues to manage funds from this division.
Frequently Asked Questions
What is LO3 Capital's investment in CCRA International?
LO3 Capital has made a senior debt investment in CCRA International, enabling its acquisition of ABC Global Services for enhanced growth.
How does CCRA International benefit from this investment?
This investment allows CCRA to acquire ABC Global Services, significantly expanding its travel service offerings and market reach.
Who leads LO3 Capital?
Glenn Harrison is the Managing Partner and Co-Founder of LO3 Capital, overseeing investment strategies and partnerships.
What services does CCRA International provide?
CCRA provides hotel and air booking solutions, along with call center operations, marketing, and accreditation services to travel agencies globally.
When was LO3 Capital founded?
LO3 Capital was founded in September 2022, focusing on the lower-middle market for investment opportunities.
