H.I.G. Capital completes acquisition of IAC

H.I.G. Capital, a leading global alternative investment firm with $75 billion of capital under management, is pleased to announce that one of its affiliates has completed the acquisition of International Aerospace Coatings (IAC).

Headquartered in Irvine, California, and Shannon, Ireland, IAC is a leading provider of aircraft painting solutions for original equipment manufacturers (OEMs), major airlines and operators, and maintenance, repair, and overhaul providers. IAC also provides engineering and advanced asset management solutions through its Eirtech Aviation Services (EAS) division. IAC's reputation for consistent quality and on-time execution has firmly established the Company as a trusted partner to its customers.

Martin O'Connell, Chief Executive Officer of IAC, said, "We are thrilled to welcome H.I.G. as a partner, as we scale IAC to meet growing demand for high-quality aircraft painting services. With H.I.G.'s experience and resources, we plan to expand our geographic footprint, invest in additional hangar capacity, and selectively pursue add-on acquisitions."

Doug Berman, Co-President at H.I.G., said, "IAC has built an outstanding reputation for quality, reliability, and customer service. We are pleased to partner with IAC and believe the Company is well positioned to continue gaining share as airlines, OEMs, lessors, and operators prioritise quality, turnaround time, and consistency."

RBC Capital Markets, LLC acted as financial advisor, and Ropes & Gray LLP served as legal counsel to H.I.G. Jefferies, LLC acted as financial advisor, and Latham & Watkins LLP served as legal counsel to IAC.