The strategic financing supports CCRA's acquisition of ABC Global Services and positions the company as one of the largest travel network consortia in North America.
BOSTON, MA AND NEW YORK, NY / ACCESS Newswire / November 6, 2025 / Progress Partners, a full-service investment bank for emerging technology and media companies, served as the exclusive financial advisor to CCRA International, LLC in securing acquisition financing from LO3 Capital and Tamarix Capital Partners.
The transaction was led by Managing Director Parag Sheth. This financing enables CCRA to complete its acquisition of ABC Global Services, creating one of the largest travel network consortia in North America. ABC brings almost 60,000 hotel properties via the Preferred Hotel Program to CCRA. Together, the combined company will serve over 10,000 travel agencies, facilitate more than $7 billion in hotel bookings per year, $150M+ in air bookings, and support over 30,000 travelers annually.
Founded in 1974, CCRA International is a leading provider of tech-enabled B2B service solutions for the travel industry. The company serves travel agencies through 24/7/365 call center support, exclusive airline and hotel contracts, global supplier partnerships, and its own membership accreditation program.
"Eric Altschul, CEO of ABC Global Services, and I have worked closely with each other for the past two decades. Bringing our companies together means greater opportunities for our clients", said Dic Marxen, CEO of CCRA International. "We are thrilled that Parag and his team at Progress Partners helped us find the right financing partners in LO3 Capital and Tamarix Capital Partners. I am looking forward to working closely with Glenn Harrison, TJ O'Donnell, and team at LO3 Capital, as well as with Mark Hauser, Holbrook Forusz, and team at Tamarix Capital."
Eric Altschul said, "The partnership between CCRA and ABC is a natural due to the synergies. I look forward to supporting Dic and his team. I also want to acknowledge Parag Sheth from Progress Partners who quarterbacked this deal and was critical in bringing it to a successful close."
"We are excited about the partnership between Dic Marxen, CEO of CCRA International, LO3 Capital and Tamarix Capital Partners" said Parag Sheth. "Bringing ABC Global Services and CCRA International together opens new opportunities for CCRA and ABC clients. We are grateful for the partnership with Dic as well as LO3, Tamarix, and the ABC team."
Glenn Harrison of LO3 Capital, said: "We're proud to support the combination of CCRA and ABC Global Services-two complementary and preeminent travel consortia programs that together create a leading platform with the scale and resources to drive innovation and growth across the global travel ecosystem. We're pleased to have Tamarix Capital Partners alongside us, further strengthening our partnership and reinforcing our shared commitment to long-term value creation alongside exceptional management teams and private equity sponsors."
LO3 Capital and Tamarix Capital Partners, both New York-based private investment firms, provide flexible debt and hybrid capital solutions to lower middle-market companies across the U.S. Their partnership with CCRA supports continued growth and expansion in the travel and hospitality sector.
This transaction extends Progress Partners' 20+ year record of delivering premium outcomes.
About Progress Partners
Progress Partners is a full-service investment bank providing M&A, capital raise, and strategic growth expertise for emerging technology and media companies. Securities offered by FNEX Capital, LLC, member of FINRA and SIPC. For more information, please visit progresspartners.com.
About CCRA International, LLC
Founded in 1974 and headquartered in Fort Worth, Texas, CCRA is a leading provider of tech-enabled B2B service solutions for the travel industry. Through its 24/7/365 call center support, exclusive airline and hotel contracts, global supplier partnerships, and membership accreditation program, CCRA enables travel agencies to scale efficiently and serve clients worldwide. http://www.ccra.com/
About LO3 Capital
LO3 Capital is a minority-owned private investment firm committed to helping lower-middle market companies grow. The firm targets business with over $3 million of EBITDA across a variety of industries. LO3 Capital partners with management teams, business owners, and private equity firms to finance organic growth, acquisitions, recapitalizations, and ownership transitions. For more information, please visit lo3capital.com
About Tamarix Capital Partners ("TCP")
TCP works with business owners and management teams, as well as search funds, independent sponsors, family offices and private equity sponsors to finance growth strategies, changes of control transactions, acquisitions, and recapitalizations. We provide debt and minority equity investments to companies with $3 - $15 million of EBITDA and typically invest $5 - $35 million in each business, with the ability to lead larger transactions. TCP is part of the Tamarix platform, which was founded in 1993, and is managed by seasoned investment professionals that have cumulatively invested over $3.5 billion in more than 225 companies. For more information, please visit https://tamarixcapital.com/credit/
Contact Information:
Marketing Progress Partners
marketing@progresspartners.com
SOURCE: Progress Partners
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/progress-partners-advises-ccra-international-llc-on-its-acquisition-1097760