H.I.G. Capital Completes Acquisition of International Aerospace Coatings

H.I.G. Capital, a Miami-based global alternative investment firm with $75 billion in capital under management, announced on May 15, 2026, the completion of its acquisition of International Aerospace Coatings (IAC). The deal marks a strategic expansion for H.I.G. into the aerospace services sector, specifically aircraft painting and advanced asset management.

IAC, founded in 1980 and headquartered in Irvine, California, and Shannon, Ireland, is a prominent provider of aircraft painting solutions serving original equipment manufacturers (OEMs), major airlines, operators, and maintenance, repair, and overhaul (MRO) providers. The company also offers engineering and asset management services through its Eirtech Aviation Services division. IAC operates 25 hangars across 11 sites in the U.S. and Europe, with multi-year contracts that provide predictable revenue streams.

While the financial terms of the acquisition were not disclosed, H.I.G. Capital acquired 100% ownership of IAC. RBC Capital Markets and Jefferies acted as financial advisors to H.I.G. and IAC respectively, with legal counsel provided by Ropes & Gray LLP for H.I.G. and Latham & Watkins LLP for IAC.

Martin O’Connell, CEO of IAC, expressed optimism about the partnership, stating, “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., added, “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 prioritize quality, turnaround time, and consistency.”

The acquisition aligns with H.I.G.’s strategy of investing in middle-market companies with operational growth potential. By integrating IAC’s specialized aircraft painting and asset management services, H.I.G. aims to leverage cross-selling opportunities within its portfolio and expand IAC’s presence in North America, Europe, and potentially new international markets.

Industry trends show increasing demand for high-quality, reliable aircraft maintenance services as airlines and lessors focus on operational efficiency and turnaround times. IAC’s established multi-year contracts and predictable service cycles position it well to capitalize on these trends.

H.I.G. plans to invest in expanding IAC’s hangar capacity to increase throughput and operational efficiency. The firm also intends to support selective add-on acquisitions to consolidate the fragmented aerospace coatings market. Operational improvements will focus on streamlining procurement, supply chain management, and back-office functions to reduce costs and enhance service delivery.

Integration challenges include aligning corporate cultures across the U.S. and Ireland locations, managing geographic expansion, and maintaining high-quality standards during rapid growth. However, H.I.G.’s operational expertise is expected to mitigate these risks.

Looking ahead, the partnership aims to strengthen IAC’s market position as a leading aircraft painting service provider with enhanced scale and capabilities. The acquisition is expected to accelerate market consolidation and increase competitive pressure on other providers in the aerospace coatings sector.

Both companies are now focused on executing integration plans and pursuing growth opportunities, with no regulatory hurdles reported at this stage.