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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.
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