Tiger Infrastructure Partners has announced the acquisition of International Aerospace Coatings (IAC) Group, which includes Eirtech Aviation Services. IAC Group is one of the world’s leading aviation services providers headquartered in Shannon, and Irvine, California. IAC’s portfolio of 18 aircraft hangars is strategically located at seven airports and two customer sites in the United States and Europe, providing essential services to customers in the global aviation industry, including aircraft manufacturers, commercial airlines, aircraft leasing companies, air cargo carriers, and governments. IAC Group employs more than 1,000 people worldwide, including more than 250 in Shannon. 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. The work frequently coincides with FAA and 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.
Commenting on the acquisition, the Chief Executive Officer of Tiger Infrastructure, Emil W. Henry, Jr. said, “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. 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.”
Also commenting was the CEO of the IAC Group, Martin O’Connell who said, “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 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 fulfill that demand.”
