Tiger Infrastructure Partners, a middle-market growth infrastructure investor, has acquired International Aerospace Coatings, an aviation services provider headquartered in Shannon, Ireland and Irvine, Calif., from Vance Street Capital.
IAC utilizes 18 hangars located at seven airports and two customer sites in the U.S. and Europe to offer services to a customer base in the aviation industry, including aircraft manufacturers, commercial airlines, aircraft leasing companies, air cargo carriers and governments. IAC marks the seventh platform investment for Tiger Infrastructure Partners Fund III.
“As a growth-oriented infrastructure investor, we were attracted to IAC because of its compelling growth prospects, leading market position, substantial asset base and long-term relationships that provide barriers to entry, and stable, reoccurring revenues from providing essential services,” comments Emil Henry Jr., CEO of Tiger Infrastructure. “With operations in both the U.S. and Europe, IAC aligns well with Tiger’s trans-Atlantic footprint and execution capabilities, which are a source of competitive advantage for us in the middle market.”
Tiger was advised by Harris Williams as financial advisor, Winston & Strawn LLP as legal advisor, and Alton Aviation Consultancy as commercial advisor. Vance Street Capital was advised by Jefferies as financial advisor and O’Melveny & Myers LLP as legal advisor.