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. Continues Momentum with Asian Strategic Buyers
RICHMOND, Va. -- August 22, 2013
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
“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 Capitalmanages$21 billionof assets, including assets on its
balance sheet and fee earning assets under management by affiliated managers,
with$119 billionof total assets under management, including levered assets.
From its eight offices in the U.S. andEurope,American Capitaland 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
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.
Harris Williams & Co.
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