PE Investor AEI Forming Travel Security Specialist

Credit: World Travel & Tourism Council

WASHINGTON—Private equity investor AE Industrial Partners is forming Pangiam, a new portfolio company to provide biometric and other travel security systems to the commercial aviation sector.

On Nov. 4, AEI said it acquired Linkware, a provider of custom software and consulting services to federal government organizations, along with security and travel consulting services provider PRE—which was better known as Pangiam—and will combine and operate the two under the Pangiam brand. The Linkware brand will continue to be used for digital services to government customers.

Former U.S. Customs and Border Protection (CBP) chief Kevin McAleenan has been named Pangiam CEO. 

Financial details were not provided. AEI is one of the most active PE firms in the aerospace, defense and government services sector.

Linkware was founded in 2011 in suburban Washington, D.C., by Leo Fthenos, Bobby Paraskevopoulos, Howard Stone and Vasilios Tzeremes, all of whom will continue to serve as MDs, according to AEI. McAleenan founded Pangiam along with Patrick Flanagan and Dave Reissfelder to provide security and travel consulting services to commercial customers across several industries. Flanagan, another CBP alumnus and former Transportation Security Administration (TSA) official, will be the company’s COO.

“Linkware has been a critical resource to its customers in supporting mission imperative projects with strong recurring performance and a highly technical staff,” AEI partner Kirk Konert said. “Now, as part of a broader technology platform in Pangiam, Linkware will have the demonstrated innovation to address the growing demand for seamless travel and security solutions.”

Michael Bruno

Based in Washington, Michael Bruno is Aviation Week Network’s Executive Editor for Business. He oversees coverage of aviation, aerospace and defense businesses, supply chains and related issues.