FROSCH Adds Growth Capital with Investment from EagleTree Capital


Frosch International Travel, a leading travel management company, today announced that EagleTree Capital has made a substantial growth investment in the firm. The Leibman Family will continue to control FROSCH with Bryan Leibman as its President & CEO and EagleTree will hold a minority position.

"We are delighted that EagleTree's investment further reinforces our strong balance sheet so we can continue to pursue M&A, invest in our infrastructure, technology, and the core of our business as well as focus on our key customers (corporate, leisure, entertainment and groups) and independent contractors," said Leibman. "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. 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."

Anup Bagaria, Co-Managing Partner at EagleTree commented, "We look forward to working with the Leibman family and the excellent management team Bryan Leibman has assembled. 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." Michael Struble, Senior Partner at EagleTree added, "Bryan's view of the future of travel aligns well with ours and as a leading company in the sector, FROSCH is an ideal partner for us. We look forward to supporting FROSCH's strategic growth plan, both organically and through M&A."

Leibman says the goal is for FROSCH to be the leader and an innovator in the travel sector. "We believe in our business and the future of our industry, and we are committed to the luxury space and the corporate market. EagleTree's equity investment and extensive experience will enable our committed leadership team to accelerate growth in our core business, broaden our service offering and pursue expansion opportunities globally. We look forward to our strategic partnership with the EagleTree team and are excited about reaching new milestones as we embark on this next stage of our journey."

Terms of the transaction were not disclosed.


Founded in 1972 and co-headquartered in New York City and Houston, FROSCH is among the world's top 15 travel management companies, according to Travel Weekly. FROSCH provides premium travel services to clients of all sizes through a seamless global operations platform and innovative technology solutions that simplify and streamline the travel experience for business and leisure travelers. For more information, visit

About EagleTree Capital

EagleTree Capital is a leading New York-based middle-market private equity firm that currently manages approximately $3.0 billion of capital. The Firm has completed over 35 private equity investments and over 70 add-on transactions over the past 20+ years. EagleTree primarily invests in North America in the following sectors: media and business services, consumer, and water and specialty industrial. For more information, please visit

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