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Private equity firm EagleTree Capital today announced a substantial growth investment in travel management company Frosch International Travel (FROSCH), where it will hold a minority position. FROSCH will continue to operate under the leadership of the Leibman family, who founded the company in 1972, with Bryan Leibman serving as president and CEO. (Note: EagleTree is the private equity investor of Northstar Travel Group, the parent company of TravelAge West.)
"We see tremendous opportunities in partnering with EagleTree, an investor that not only understands our goals, our culture and our strategy, but also respects our commitment to independence and focus on the long term,” Leibman said in a statement. “EagleTree has a notable track record of partnering with companies considered to be best-in-class in their respective industries and helping them accelerate success, so we are excited that they have chosen to invest in us.”
In the nearly 50 years since its creation, FROSCH has provided premium travel services to corporate and leisure clients around the world, and this new partnership will ensure that the company continues to be “the leader in luxury leisure travel,” according to Marc Kazlauskas, president of FROSCH’s leisure division and U.S. branch operations.
“With great investors, an incredible owner and executive team, and an incredible group of support and sales individuals, I think we’ve got that secret formula to come out of this pandemic in a great place,” Kazlauskas said. “We’ve definitely set ourselves up in a great space prior to this, but this just adds to the level of investment we can make in [other areas].”
In the short-term, Kazlauskas says that FROSCH plans to use EagleTree’s investment to ensure that the company continues to grow while offering the same level of support to its advisors as it emerges from the COVID-19 pandemic. Enhancing the company’s existing technology is also on the short list, which Kazlauskas says he hopes will provide advisors and Independent Contractors (ICs) more exposure while simultaneously giving FROSCH clients a better user experience.
In addition, he anticipates the implementation of enhanced marketing strategies — which will garner new business and drum up new leads for advisors and ICs — in addition to revamped communication efforts in the areas of public relations, social media and more.
“We’ve been very humbled in the great things that we do, but we haven’t been as outgoing as we should be in terms of what we do really well,” Kazlauskas said. “Now, we are trying to be proactive about our strengths while making a great experience for clients and being the best home for ICs in the luxury space. That’s what we want to tell the world.”
The partnership will likely lead to additional mergers and acquisitions (M&A) that will “continue the trend of bringing in culturally great-fit companies under the FROSCH umbrella,” along with the best and the brightest talent, he added.
Finally, Kazlauskas said the company will use the investment to enhance its relationship with Northstar Travel Group and its portfolio of publications, events, custom client solutions and more.
“We are going to be learning all the wonderful things [Northstar Travel Group] has to offer, and we will certainly be taking advantage of that,” he said.
Michael Struble, senior partner at EagleTree, said in a statement that FROSCH is both a leading company in the sector and an ideal partner for the firm.
“We look forward to supporting FROSCH’s strategic growth plan, both organically and through M&A,” he said.
“FROSCH is one of the few truly global operators in the market, which we believe is a strong differentiator to capture the exciting growth ahead,” added Anup Bagaria, co-managing partner at EagleTree.
The DetailsEagleTree Capitalwww.eagletree.com