The investor who purchased Ambassadors International’s travel and events division in April—Lakeview Equity Partners, LLC, a Milwaukee-based private-equity fund—is also the majority stakeholder in Chicago-based event housing and travel services company Travel Technology Group, LLC. And now, TTG and Ambassadors have announced a merger.
A rebranding of the companies is underway and will be announced by the end of the year. Until then, the company is calling itself TTG|AMB.
"Though Travel Technology Group and Ambassadors were competitors, we shared the same vision of redefining event housing management," explained Michael Howe, president and CFO of TTG|AMB in a press statement. "Our strategy is to continue delivering outstanding customer service, a flexible event management system, and innovative solutions for event management."
In addition to Howe, who had been senior vice president and CFO of TTG, leadership at the merged company includes Bob Derham as vice chairman of the board. Derham was co-founder and managing director of TTG.