Frosch has acquired TCG Consulting LLC (TCG), a Charlotte-based company that specializes in the development of integrated travel, meetings, payment and expense (TMPE) solutions. Frosch said that the move will allow it to provide broader and more comprehensive travel services and expense management solutions to the corporate market.
TCG has $26 billion in client travel spend under management, Frosch said, with six offices in major business centers around the world. The company uses a proprietary total cost of ownership (TCO) management methodology in its solutions that the company says provides greater insight and control over an organization’s total cost of managing travel and expenses. TCG will continue to offer its expanded service offerings independently as a standalone entity led by founder and CEO Albert Taras, while also providing access to Frosch’s operational capabilities to interested clients.
Co-headquartered in New York City and Houston, Frosch provides premium travel services out of 40 locations on six continents, with a focus on corporate travel in the professional, legal, financial services, energy, pharmaceuticals and entertainment sectors, as well as the luxury travel market. The company offers a unified Obex for Business mobile travel app that provides an easy-to-use interface for travel managers, travel bookers and business travelers.
Atlanta-based private equity and mergers and acquisitions advisory firm Bearing Partners served as financial advisor to TCG on the transaction.