International. IAC's core business includes aircraft painting, aviation technical services, aircraft interior renovation and aircraft graphics solutions. Aircraft are normally painted for corrosion protection purposes and marked every 5 to 7 years.
Tiger Infrastructure Partners (Tiger), a private equity infrastructure investor, announces the acquisition of International Aerospace Coatings (IAC) Group, which includes Eirtech Aviation Services. IAC Group is an aviation services provider headquartered in Shannon, Ireland and Irvine, California.
IAC provides essential services to customers in the global aviation industry, including aircraft manufacturers, commercial airlines, aircraft leasing companies, air cargo carriers and governments.
"As a growth-oriented infrastructure investor, we were attracted to IAC because of its compelling growth prospects, market leadership position, substantial asset base and stakeholder relationships along with its strong balance sheet," said Emil W. Henry, Jr., Executive Director of Tiger Infrastructure.
"With operations in both the U.S. and Europe, IAC aligns well with Tiger's transatlantic footprint and capabilities, which are a source of competitive advantage for us in the markets in which we operate," Henry added.
The work frequently coincides with mandatory maintenance events from the Federal Aviation Authority (FAA) and the European Union Aviation Safety Agency (EASA) to reduce downtime and costs.
IAC Group also provides engineering services and asset management solutions to help customers ensure regulatory compliance through its Eirtech Aviation Services (EAS) division.
"We are excited to partner with Tiger for IAC's next chapter of growth. We expect a combination of tailwinds from the aviation industry to drive aircraft paint demand growth by around 8% annually," said IAC Group CEO Martin O'Connell.
"And, in partnership with Tiger, we aim to open new facilities and expand our capacity substantially in the coming years. By 2027, we anticipate that the industry will have a significant shortfall in service capacity versus annual demand, and we will be well positioned to meet that demand," O'Connell added.
