International Aerospace Coatings, a Shannon-based aircraft painting company, has changed hands with a US private equity firm acquiring the business. Earlier this month, H.I.G. Capital completed its deal to buy the 46-year-old company from Tiger Infrastructure Partners, another private equity investor. The Irish company, better known as IAC, is dual headquartered in Shannon and Irvine, California and is led by chief executive Martin O’Connell. In a statement confirming the closing of the transaction, O’Connell said the company would expand its geographic reach and carry out acquisitions of its own: “With H.I.G.’s experience and resources, we plan to expand our geographic…

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