Travel Technology Group Sells Stake
Staff -- Tradeshow Week, 5/12/2008
Private equity firm Lakeview Equity Partners, based in Milwaukee, Wis., purchased a majority interest in housing service provider Travel Technology Group. TTG, based in Chicago, services more than 200 events worldwide each year.
"Travel Tech is an attractive company because of its profitability and growth potential," said W. Kent Velde, president of Lakeview Equity Partners, "but also because of the resoundingly positive feedback we received from its stakeholders, both internal and external."
The founders and co-owners of TTG, Tom Baur and Bob Derham, will retain a minority interest in the company and members of the senior management team are expected to remain in their current positions, according to the company.
"The 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 to our current success," said Derham, managing director of TTG.
TTG's client portfolio includes Reed Exhibitions, Diversified Business Communications, Merchandise Mart Properties Inc., Penton Media, the Natl. Restaurant Assn. and the Intl. Housewares Assn., among others.
Lakeview also has investments in other non-tradeshow related companies such as 5 Alarm Fire and Safety Equipment, Firehouse Animal Centers and LS Research.
