H.I.G. Capital Completes Acquisition of IAC

NEW YORK, May 15, 2026 /CNW/ -- H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $75 billion of capital under management, is pleased to announce that one of its affiliates has completed the acquisition of International Aerospace Coatings ("IAC" or the "Company").

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's reputation for consistent quality and on-time execution has firmly established the Company as a trusted partner to its customers.

Martin O'Connell, Chief Executive Officer of IAC, said, "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., said, "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."

RBC Capital Markets, LLC acted as financial advisor, and Ropes & Gray LLP served as legal counsel to H.I.G. Jefferies, LLC acted as financial advisor, and Latham & Watkins LLP served as legal counsel to IAC.

About IAC

Founded in 1980, IAC is a leader in aircraft painting and aviation services. The Company operates a global footprint of 25 hangars across 11 sites located in the U.S. and Europe. IAC's multi-year contractual agreements, combined with predictable aircraft service cycles, provide significant revenue visibility. For more information, visit iac.aero.

About H.I.G. Capital

H.I.G. is a leading global alternative investment firm with $75 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, San Francisco, and Stamford in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach:

• H.I.G.'s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
• H.I.G.'s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
• H.I.G.'s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
• H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm's current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.

*Based on total capital raised by H.I.G. Capital and its affiliates.

Contact:

Paul Gurm
Managing Director
[email protected]

Miriam Rafiqi
Managing Director
[email protected]

H.I.G. Capital
1271 Avenue of the Americas
22nd Floor
New York, NY 10020
P: 212.506.0500
hig.com

SOURCE H.I.G. Capital