August 6, 2014
Vance Street Capital acquires Eirtech Aviation
Vance Street Capital, a Los Angeles-based private equity firm, and its affiliates, have acquired Eirtech Aviation (“Eirtech”), a specialist aviation coating services company headquartered in Shannon, Ireland. Eirtech, together with existing Vance Street portfolio companies Leading Edge Aviation Services and Associated Painters, will form International Aerospace Coatings Holdings LP. The combined entity creates a leading global provider of aviation coating services, including exterior and interior aircraft painting, aircraft refurbishment and provision of aircraft graphics. The principals of Eirtech Aviation will maintain a substantial ownership stake in the combined business. Terms of the transaction were not disclosed. The newly merged company employs approximately 800 people across Europe and North America. Leading Edge, Associated Painters and Eirtech will continue to operate under their respective brand names and existing management teams in their geographies and provide outstanding aviation services to the world’s leading aircraft original equipment manufacturers (OEMs), commercial airlines, private operators, aircraft leasing companies and military customers.