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Acorn Capital Management announced the acquisition of Pan Am Flight Academy, LLC. Pan Am Flight Academy is based in Miami, Florida, and is an independent provider of flight simulator-based training and ancillary services focused on commercial aircraft platforms. The Academy owns a fleet of 25 full flight simulators plus additional flight training devices.

This acquisition is the fourth platform company in Acorn’s fifth investment fund and industry veteran Ed Wegel will become the company’s CEO, with current President and COO Jeff Portanova continuing in his role.

Rick Nagel, Acorn's managing partner said, "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 recognized globally not only from the Company's prior affiliation with the airline, but also by airlines worldwide as a premier partner for pilot and crew training.”

Ed Wegel, CEO of Pan Am said, "Pan Am has been training commercial airline pilots for many decades and has earned its reputation as the World's Most Experienced Aviation Training Company.

“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 for our growing list of airline customers. The next phase for Pan Am is exciting as we partner with Acorn to provide the resources we need to fulfill our ambitions."

Pan Am’s current operation provides a solid foundation for further growth with its new access to capital through its partnership with Acorn. Its newest facility in Hialeah, Florida, presents a desirable opportunity to significantly increase its simulator fleet and training capacity.

Jeff Portanova, President & COO of Pan Am noted, "I am proud of what we have been able to accomplish since acquiring Pan Am during the COVID pandemic and look forward to partnering with Acorn in the next phase of our growth."

FMI:  panamacademy.com/