ANA Holdings Inc. is buying Pan Am Holdings Inc. for $139.5 million.

Pan Am, headquartered in Miami, came out of the flight training operations of the former Pan American World Airways. The company provides flight simulation training, and has more than 200 different training programs.

The company was sold by private equity firm and asset manager American Capital (Nasdaq: ACAS). The firm invests in middle market businesses and has $21 billion in assets under management. American Capital, headquartered in Bethesda, Md., is currently invested in Transtar Holding Co., Affordable Care Inc. and Vision Solutions Inc.

Tokyo-based ANA is the parent company of All Nippon Airways Co. Ltd., Peach Aviation Ltd. and All Nippon Airways Trading Co. Ltd. The company provides pilot training services.

Harris Williams & Co. advised Pan Am on the deal.  

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