Harris Williams & Co. Advises Pan Am Holdings, Inc. On Its Sale To Japanese Strategic Buyer ANA Holdings, Parent Company Of All Nippon Airways

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Pan Am Holdings, Inc. and its subsidiaries, including Pan Am International Flight Academy, Inc. (Pan Am), one of the largest independent providers of flight simulation and aviation training services in the world. The company was acquired by ANA Holdings Inc. (ANA), parent company of All Nippon Airways Co., Ltd for $139.5 million. Harris Williams & Co. acted as the exclusive advisor to Pan Am, a portfolio company of American Capital, Ltd. (American Capital; NASDAQ: ACAS). The transaction closed on August 22, 2013 and was led by Jon Nemo, Chris Rogers, Doug Kinard and Chris Smith from Harris Williams & Co.’s Aerospace, Defense & Government Services (ADG) Group.

“Pan Am has a strong reputation and track record in pilot training, a market in which worldwide demand is expected to experience significant growth within the next several years,” commented Chris Rogers, a director at Harris Williams & Co.

“This strategic acquisition will allow ANA to capture more of this demand, particularly in Asia, and also accelerate ANA's global expansion in this market,” stated Jon Nemo, a managing director at Harris Williams & Co.

For Harris Williams & Co., the sale of Pan Am represents the increased interest seen from Asian buyers. In May, the firm acted as the exclusive advisor to Alma Lasers in its sale to Fosun International, a Chinese strategic buyer, for an enterprise value of $220 million.

Pan Am, headquartered in Miami, FL, grew out of the flight training operations of the former Pan American World Airways and operates under one of the most recognized brands in the world. The company provides outsourced flight simulation training for a broad base of domestic and international airline and cargo carrier customers on several of the leading aircraft platforms in service today. Pan Am operates across nine training facilities in the U.S. and Japan, with more than 200 different aviation training programs available.

American Capital is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products. American Capital manages $21 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $119 billion of total assets under management, including levered assets. From its eight offices in the U.S. and Europe, American Capital and its affiliate, European Capital, will consider investment opportunities from $10 million to $750 million.

ANA is a holding company that includes the shares of other companies such as All Nippon Airways Co., Ltd, low cost carrier Peach Aviation Limited, and trading company All Nippon Airways Trading Co., Ltd. ANA has an established presence in pilot training services through panda Flight Academy Inc., which it established in 2011.

Harris Williams & Co. ( www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s ADG Group, led by Jon Nemo and Chris Rogers, offers strategic advice to a global base of leading aerospace, defense and government services clients. For more information on the ADG Group and other recent transactions, visit the ADG Group website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.

For general release inquiries, please contact Julia Salatino, marketing specialist, at +1 (804) 648-0072.

Copyright Business Wire 2010

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