Acorn Capital Management Strengthens Position with Pan Am Flight Academy Acquisition

Acorn Capital Management Expands Portfolio with Pan Am Flight Academy Acquisition

In a significant move on February 26, 2025, Acorn Capital Management, a private equity firm renowned for its focus on sectors like aerospace and defense, has announced its acquisition of Pan Am Flight Academy, located in Miami, Florida. This acquisition represents a new chapter for the iconic flight training provider, which has been instrumental in aviation training for decades.

Pan Am Flight Academy is widely recognized as a leader in flight simulation-based training, maintaining a fleet of 25 full flight simulators designed to train pilots specifically for commercial aircraft operations. This expansion is pivotal for Acorn's fifth investment fund and underscores the firm's commitment to investing in high-potential companies within the aerospace and defense sectors.

Rick Nagel, the managing partner at Acorn Capital, expressed his enthusiasm saying, "We are honored to be trusted with the next chapter of growth for one of the most iconic names in the aviation market." The Pan Am name is well-respected internationally, not only for its historical ties but also as a reliable partner for pilot and crew training across global airlines.

Ed Wegel, who has an extensive background in the aviation industry, has been appointed as CEO of Pan Am Flight Academy and will work closely with current President and COO, Jeff Portanova, who will continue to serve on the Board of Directors. Wegel stated, "I look forward to leading this great company as we grow our simulator base and provide additional training capabilities in all areas of airline operations."

The acquisition is set to bolster Pan Am’s existing customer base, which served over 550 clients in 2024, primarily focusing on both passenger and cargo airline operators. The company’s recent facility in Hialeah, Florida, provides an ideal environment for expanding its fleet of simulators and training capabilities. Greg Agnew, a partner at Acorn, emphasized the necessity of investing in pilot training and safety in light of the aviation industry's evolving demands.

Acorn’s partnership with Pan Am is anticipated to provide the necessary resources and capital that the company needs to fulfill its ambitions for growth. This collaboration aims to support both organic expansion and potential acquisitions, positioning them strongly in the aviation training market.

Additionally, the financial terms of the transaction, which was finalized on February 20, 2025, have not been disclosed. However, Acorn received vital legal guidance from Hartzog Conger and Cason, while the sellers were advised by Fafinski Mark & Johnson. Alongside this, City National Bank provided debt financing for the acquisition.

For more than 40 years, Pan Am Flight Academy has been at the forefront of commercial aviation training, offering a diverse range of programs that cater to the needs of the aviation service industry. Being the only remaining division of the original Pan American World Airways, the academy carries a rich legacy that dates back to the foundational days of airline flight training.

As Acorn Capital Management embarks on this new endeavor with Pan Am Flight Academy, the industry watches closely for the innovations and growth strategies that are sure to unfold under their joint leadership. With each step forward, Acorn continues to solidify its reputation in the aerospace and defense market, nurturing companies that contribute to enhancing global mobility and safeguarding national interests. For further information about Pan Am Flight Academy, please visit Pan Am Academy.