H.I.G. Capital acquires International Aerospace Coatings
The acquisition brings 25 hangars across 11 U.S. and European sites, with multi-year contracts providing revenue visibility from OEMs, airlines, and MRO customers.
Takeaways
- International Aerospace Coatings is a provider of aircraft painting, engineering, and asset management solutions for OEMs, airlines, and MROs.
- H.I.G. Capital and International Aerospace Coatings are classified as a platform transaction.
- The target serves commercial airlines, OEMs, and MRO providers across U.S. and Europe.
Demand for high-quality aircraft painting and related asset management services is drawing private equity interest.
H.I.G. Capital has completed the acquisition of International Aerospace Coatings, a provider of painting, engineering, and asset management solutions for OEMs, airlines, and MROs.
The company operates a global network of 25 hangars across 11 sites in the U.S. and Europe, supported by multi-year customer contracts that offer significant revenue visibility.
Founded in 1980 and co-headquartered in Irvine, California, and Shannon, Ireland, IAC has built a reputation for consistent quality and on-time execution.
Its Eirtech Aviation Services division adds engineering and advanced asset management capabilities.
CEO Martin O’Connell said the partnership will allow the company to scale to meet rising demand for high-quality aircraft painting services.
H.I.G. intends to expand IAC’s geographic footprint, invest in additional hangar capacity, and selectively pursue add-on acquisitions.
Co-President Doug Berman pointed to the increasing emphasis by airlines, OEMs, lessors, and operators on quality, turnaround time, and consistency, which he believes positions IAC to gain further market share.
The firm manages $75 billion in capital and focuses on operationally driven middle-market investments.
RBC Capital Markets and Ropes & Gray advised H.I.G. Jefferies and Latham & Watkins advised IAC.
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