#USA #New York #Aviation Services #Tiger Infrastructure #IAC

Tiger Infrastructure Partners Sells IAC: A Landmark Sale in Aviation Services

On May 15, 2026, Tiger Infrastructure Partners announced the successful sale of its Fund III investment in International Aerospace Coatings (IAC), a premier provider of aviation services with a strong global footprint. This strategic move comes after a period marked by significant growth and the implementation of a robust Value Creation Playbook.

IAC operates an extensive portfolio of 25 on-airport hangars, supported by long-term concessions that enable the company to deliver specialized aircraft painting services. These services cater to a diverse range of clients, including aircraft manufacturers, commercial airlines, leasing companies, cargo carriers, governments, and other entities owning various aircraft types.

A Partnership Built on Growth

Emil W. Henry, Jr., the Founder and CEO of Tiger Infrastructure, emphasized IAC as a standout example of their value creation methodology. Since Tiger's investment in 2022, the collaboration between Tiger and IAC has pivoted the company towards its growth goals, leveraging the leadership of CEO Martin O'Connell. Under Tiger's stewardship, IAC's asset base expanded from 17 to an impressive 25 hangars, with key locations established at major aviation hubs in Portland, Oregon, Amarillo, Texas, Fort Worth, Texas, Teruel, Spain, and Malta. This transatlantic expansion reflects the growing demand for IAC's services, allowing the company to forge stronger partnerships with leading aircraft manufacturers and secure long-term contracts—factors that substantially enhance their financial stability.

Strong Financial Performance

During Tiger Infrastructure's ownership, IAC demonstrated remarkable performance. The growth trajectory enabled them to execute distributions to investors and significantly lower their cost of capital. The issuance of their first investment-grade rated debt in 2025 marked a significant milestone, paving the way for a well-established capital structure that supports ongoing expansion initiatives. Marc H. Blair, COO and Senior Managing Director of Tiger Infrastructure, expressed satisfaction with IAC's performance, noting their ability to achieve ambitious five-year plans ahead of schedule. The successful sale attracted substantial interest from other infrastructure investors, indicative of Tiger's reputation for cultivating robust infrastructure businesses.

Ongoing Activity and Future Endeavors

The divestiture of IAC aligns with Tiger Infrastructure's consistent engagement in significant transaction activity, with over 40 deals concluded or announced within the past 18 months. Despite fluctuations in the market, Tiger has effectively managed to acquire six new companies totaling nearly $1 billion in enterprise value, alongside realizing investments in three businesses worth approximately $6 billion. This strategic approach continues to foster a strong pipeline of opportunities in the infrastructure sector.

Recently, the firm also expanded its portfolio by acquiring ELM Utility Services in November 2025 and is on the brink of acquiring Orbis Protect in April 2026—both promising infrastructure entities having attributes akin to those present at IAC during its acquisition phase. This indicates Tiger’s unwavering commitment to scaling infrastructure businesses that deliver mission-critical services.

Legal and Financial Advisors

In this substantial transaction, Latham & Watkins LLP acted as the legal advisor, while Jefferies LLC provided financial advisory services to Tiger Infrastructure and IAC.

About Tiger Infrastructure Partners

Tiger Infrastructure Partners stands as an innovative private equity firm with a focus on delivering transformational capital to mid-market infrastructure ventures. Their value-add investment approach concentrates on high-growth opportunities across the Digital Infrastructure, Energy Transition, and Transportation sectors in both North America and Europe, areas the firm identifies as having significant expansion drivers. With operational offices in New York and London, Tiger Infrastructure remains steadfast in its mission to bolster the development of essential infrastructural entities.