TAGS: Aerospace Coatings
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 service providers headquartered in Shannon, Ireland and Irvine, California.
Providing Services in the Aviation Industry
IAC provides essential services to customers in the global aviation industry, including aircraft manufacturers, commercial airlines, aircraft leasing companies, air cargo carriers and governments.
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As a growth-oriented infrastructure investor, we were attracted to IAC because of its compelling growth prospects, leading market position, substantial asset base and stakeholder relationships along with its strong balance sheet,” said Emil W. Henry, Jr., CEO of Tiger Infrastructure.
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With operations in both the United States and Europe, IAC aligns well with Tiger’s trans-Atlantic footprint and capabilities, which are a source of competitive advantage for us in the markets in which we operate,” added Henry.
IAC’s core business involves aircraft painting, aviation technical services, aircraft interior refurbishment and aircraft graphic solutions. Aircraft are typically painted for corrosion protection and branding purposes every 5-7 years.
Ensure Regulatory Compliance Through EAS Division
The work frequently coincides with Federal Aviation Authority (FAA) and European Union Aviation Safety Agency (EASA) mandated maintenance events 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.
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We are excited to partner with Tiger for IAC’s next chapter of growth. We expect a combination of aviation industry tailwinds to drive demand growth for aircraft painting at around 8% per annum,” said Martin O’Connell, CEO of IAC Group.
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And, in partnership with Tiger, we aim to open new facilities and expand our capacity quite substantially in the years to come. By 2027 we anticipate the industry will have a significant shortfall in serving capacity versus annual demand, and we will be well placed to fulfil that demand,” added O’Connell.
Source: International Aerospace Coatings