Fortress Investment Group today announced that its affiliates served as administrative agent and lead arranger on a first-lien term loan facility to support an H.I.G. Capital affiliate's acquisition of International Aerospace Coatings (IAC). Funds managed by affiliates of Fortress Investment Group led the facility.

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 plans to leverage H.I.G.'s experience and resources to further grow the company's operations through geographic expansion, investments in additional hangar capacity, and selective add-on acquisitions.

"The services IAC provides to commercial aviation companies benefit from durable demand drivers and meaningful barriers to entry," said Andy Frank, Global Head of Origination at Fortress Investment Group. "We believe these factors, combined with IAC's plans to further invest in its business and expand customer relationships, create a compelling opportunity for our investors."

"H.I.G. appreciates our continued partnership with Fortress," said Matthew Kretzman, Global Head of Capital Markets at H.I.G. Capital. "Fortress's ability to provide scaled, creative financing solutions once again differentiated them in the IAC financing process."