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LO3 Capital, a New York private investment firm providing transformative capital to lower-middle market companies, announced a senior debt investment in CCRA International Inc., a technology-enabled travel services platform headquartered in Fort Worth.
The investment enables CCRA to complete its acquisition of ABC Global Services, creating one of the largest travel network consortia in North America.
ABC adds nearly 60,000 hotel properties through its Preferred Hotel Program, expanding CCRA’s reach. Together, the combined company will serve more than 10,000 travel agencies, facilitate over $7 billion in hotel bookings per year, $150 million in air bookings, and support more than 30,000 travelers annually.
“We've worked closely with ABC Global Services for nearly two decades,” said Dic Marxen, CEO of CCRA International, in a statement. “Bringing our companies together creates even greater opportunities for our clients, and we're thrilled for this next phase of growth.”
Founded in 1974, CCRA provides hotel and air booking programs, call center operations, global supplier marketing, and accreditation services to over 10,000 travel agencies worldwide. Its platform connects travel partners to preferred rates and commissions across more than 58,000 hotel properties and 38 international airlines.
“Dic has built a remarkable business with a strong culture, consistent growth, and an enduring competitive advantage,” said Glenn Harrison, managing partner and co-founder of LO3 Capital. “We're excited to partner with him and the CCRA team as they continue to expand their leadership in global travel services.”
LO3 Capital led the financing alongside New York-based Tamarix Capital Partners. Progress Partners, a Boston-based investment bank, advised CCRA.
The transaction marks LO3 Capital’s 14th investment since its September 2022 launch, reinforcing its commitment to long-term value creation alongside management teams and private equity sponsors.