Travel Leaders Group agreed to acquire Protravel, and will merge it with Tzell Travel Group.

Combined, New York-based Tzell and Protravel claim $2.35 billion in sales volume. They focus on the high-end, unmanaged travel market. The companies are planning to continue operating Protravel as is, with no management changes resulting from the deal. Protravel founder Priscilla Alexander will continue on as president of Protravel. Travel Leaders Group is owned by JP Morgan Chase's private equity business, One Equity Partners, founder and chairman Mike Batt and some other management.