International Aerospace Coatings (IAC), one of the world’s leading aviation service providers, is to be acquired by the private equity investor Tiger Infrastructure Partners. The acquisition will reinforce IAC’s position in a growing market.

One of the services that IAC is best known for providing is aircraft painting, and in the past, it has painted aircraft for commercial, cargo, and military operators worldwide. Among its customers are Lufthansa, Norse Atlantic Airways, and Air Canada, as well as oneworld members American Airlines, Iberia, and British Airways.

In addition to regular airline liveries, IAC is well-accustomed to taking on one-off designs too, such as British Airways’ Airbus A320neo featuring the airline’s sustainability-focused “BA Better World” livery.

Photo: Airbus

With fleet sizes on the rebound following the pandemic, demand for aircraft painting is expected to increase significantly in the coming years. The chief executive officer of IAC, Martin O’Connell, reiterated this as he celebrated the news of the acquisition, saying,

“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 fulfil that demand."

A closer look at aircraft painting

Aircraft are typically repainted every five to seven years, and the process normally takes anywhere from one to two weeks, depending on the aircraft’s size.

In order to reduce downtime, painting is normally carried out at the same time as the regular maintenance checks that are mandated by industry bodies, including the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA).

Photo: IAC Group.

International Aerospace Coatings

IAC has headquarters in both Irvine, California, and Shannon, Ireland. The company runs 18 hangars located at seven different airports throughout the United States and Europe, and employs over 1,000 people across all of its sites.

Specializing in aircraft painting, technical services, and aircraft interior refurbishment, IAC works with a variety of manufacturers, airlines, aircraft leasing companies, and cargo carriers. In total, over 1,000 aircraft are painted per year at the group’s worldwide facilities.

Photo: IAC Group

Unsurprisingly, the news of the acquisition was equally well-received by Tiger Infrastructure Partners, with the company’s CEO adding,

“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.”

What do you think of the acquisition of IAC by Tiger Infrastructure Partners? Have you seen an aircraft being re-painted? Share your thoughts and experiences by commenting below.