Industry veteran Eric Altschul teamed with Deerpath Capital to purchase travel agency services provider ABC Services,

previously owned by Thomas Cook. After 20 years in the industry, including executive positions at Thomas Cook and American Express, Altschul assumed the role of ABC's CEO. Beverlee Patterson remains president and COO of the company, known for its hotel programs. ABC claims a presence at "more than 7,000 agency locations throughout 76 countries worldwide." Deerpath Capital provides "debt and equity financing to lower middle market companies," according to a company statement. Terms of the acquisition were not disclosed.