Chicago, IL – Ambassadors, LLC and Travel Technology Group (TTG) struck a deal to merge into a new event housing management company to be known as TTG/AMB.
The branding for the new company will be unveiled by the end of the year.
The merger combines two companies that are majority-owned by Milwaukee private equity firm Lakeview Equity Partners, LLC. Lakeview acquired Ambassadors in April.
“Although Travel Technology Group and Ambassadors were competitors, we shared the same vision of redefining event housing management,” said Michael Howe, president of TTG|AMB. “This merger has brought the best of both companies together.”
Howe said the merged company will provide attendees with one-stop booking for hotels, airline tickets, car rentals and attractions. It also gives TTG/AMB increased bargaining clout with hotels and lowers attrition risk.
Howe was senior vice president and CFO of TTG when he was appointed to lead the new company. Bob Derham, the co-founder and managing director of TTG, was named vice chairman of the new company.
Other members of the new executive team include Tim Whorton, managing director & executive vice president, sales & new business development, and Todd Lambert, chief operations officer.
Reach Michael Howe at (800) 388-8856 or mhowe@ttgonline.com
