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Home > BizTimes Daily > Archives > April 18, 2008
Milwaukee private equity group invests in Chicago company
Published April 18, 2008 - BizTimes Daily
Lakeview Equity Partners LLC, a Milwaukee-based private equity fund, has purchased a majority interest in Travel Technology Group, a Chicago-based travel coordinator for large events.
Financial terms of the acquisition, which closed Thursday night, were not disclosed.
"Travel Tech is an attractive company because of its profitability and growth potential, but also because of the resoundingly positive feedback we received from its stakeholders, both internal and external," said W. Kent Velde, president of Lakeview Equity Partners.
The founders and co-owners of Travel Technology Group will retain a minority equity interest in the company. The company's senior management will be retained and will manage day-to-day operations while working with Lakeview Equity Partners to devise future growth strategies.
Travel Technology Group provides event organizers and their customers with full-service housing and travel solutions, using award-winning technology. For example, the company has been named the official housing bureau of the upcoming Republican National Convention in the Twin Cities and is charged with managing the convention's hotel block and coordinating a paperless, online reservation system.
"This new partnership allows us to expand our business and invest more in our people, while remaining true to the clients who have paved the way for our current success," said Bob Derham, managing director of Travel Tech. "Considering the investment criteria of Lakeview Equity Partners, this strategic partnership is a confirmation of Travel Tech’s dedication to the industry, our clients and our clients’ customers."
Travel Technology Group is the fifth investment made by Lakeview Equity Partners. The company's portfolio includes 5 Alarm Fire and Safety Equipment of Fort Atkinson; Automatän, based in Plover; Firehouse Animal Health Centers in Denver, Colo.; and LS Research, based in Cedarburg.
