ROSEMONT, IL--(Marketwired - May 7, 2013) - ABC Global Services, an industry-leading travel services provider for consultants and travel agencies worldwide, announced today that Eric Altschul, former SVP of Thomas Cook, has purchased the company from Thomas Cook. Funding for the transaction was provided by Deerpath Capital. Altschul assumes the title of CEO, and Beverlee Patterson continues in her role as President & COO.
"For more than 35 years ABC has been a trusted partner to travel agencies and advisors around the world," said Altschul. "Working closely with the ABC team, I've seen firsthand the company's dedication to its customers and unsurpassed knowledge of the travel industry, which have helped it become the successful industry partner it is today. I'm looking forward to continuing ABC's legacy of success."
"Eric has been deeply involved with ABC over the past few years and he has a great working relationship with the management team," said Patterson. "As the travel industry continues to evolve and grow, we're in a unique position to help lead the industry based on our experience and expertise. The insights and knowledge that Eric brings -- along with the strength of our solutions, industry relationships and dedicated staff -- make ABC well-poised for continued growth and innovation."
Altschul brings more than 20 years of travel industry expertise and has a strong track record applying innovative marketing and technology strategies to help travel professionals work more effectively and efficiently. Throughout his career, Altschul has focused on both leisure and corporate travel distribution, having managed Thomas Cook North America's leisure distribution business, and previously working at American Express in the Supplier Relations Group and then as Vice President of its U.S. Consulting Services business. Focusing on strategic planning, innovative marketing strategies, M&As, and building industry relationships, Altschul was twice named a rising industry star by Travel Agent magazine.
Deerpath Capital provides debt and equity financing to lower middle market companies. Deerpath Capital targets investment sizes of $5 million to $25 million in companies with revenues of $10 million to $100 million. Backing experienced entrepreneurs such as Eric Altschul in his purchase of ABC Global Services is a preferred form of investment for Deerpath Capital.
ABC Global Services
With more than three decades of travel industry leadership, ABC Global Services offers comprehensive hotel solutions in thousands of cities and unmatched personalized service and support to travel consultants worldwide. The company leverages its established relationships and buying power with hotels and related suppliers around the world to provide travel professionals with preferred access to superior services, inventory, and rates, which are available through innovative solutions, such as ezBook by ABC, the industry's most complete hotel booking engine. ABC's customer base includes more than 7,000 agency locations throughout 76 countries worldwide and spans traditional mid-sized agencies, agency groups, independent agents, and corporate travel departments -- in both corporate and leisure markets. Travel advisors using ABC generate more than six-million room nights annually, providing hotel revenues close to one billion dollars (USD). ABC's dedicated team of professionals is not only committed to helping travel advisors successfully grow their businesses, but it also serves as a trusted partner and distribution channel for hoteliers and other travel-related suppliers worldwide. More information can be found at www.abcglobal.travel, or 1-800-722-5179.