IPOs Are Back and Changing Aerospace Deals, Here’s Why w/ Nick Fazioli [Replay]

Aerospace has always been a cyclical industry, one sector up, another down, capital moving cautiously between them. That’s not what’s happening right now. Every major sector is ripping at the same time, for completely different reasons.

Commercial is coming back online. Aftermarket and MRO have been running hot since COVID. Defense is being pulled forward by geopolitical demand. Business aviation has settled into a stronger, more stable “new normal.” 

It’s rare to see this kind of synchronized momentum across the entire ecosystem, and when it happens, it changes how capital behaves.

For years, aerospace exits were predictable. You built a solid business, ran an M&A process, and sold. IPOs were barely part of the conversation. Industrial manufacturing wasn’t exactly exciting to public market investors.

Now, IPOs are not only viable, but they’re also often the better option. Industrial businesses that used to be seen as slow, capital-heavy, and unsexy are suddenly being revalued as AI-proof, infrastructure-critical, and in some cases, direct beneficiaries of the AI boom. 

And that shift is forcing a new level of sophistication from operators.

Because today, you’re not just deciding whether to sell; you’re deciding how to exit in a market with more options than ever before. At the same time, there’s a quiet risk underneath all of this. Fuel prices, geopolitical instability, and supply chain pressure. None of these have gone away.

So the question isn’t just how long this run continues; it’s whether operators are actually prepared for the version of the market we’re in now.

In this episode, I’m joined by the Global Head of Aerospace and Aviation Investment Banking at Jefferies, Nick Fazioli. He breaks down what’s really driving this moment across aviation, defense, and industrials, and what it means for operators thinking about growth, capital, and exit strategy.

You’ll also learn;

• How “boring” industrial manufacturing became one of the most attractive investment categories
• Why IPOs are suddenly back, and in some cases outperforming traditional M&A exits
• How AI is indirectly reshaping aerospace valuations through energy, infrastructure, and supply chain demand
• The rise of continuation vehicles and why operators now have more exit paths than ever before
• Where private equity and institutional capital are actually placing bets right now (and why MRO is so competitive)
• The hidden risks: fuel prices, geopolitics, and consumer pressure, and how quickly they could impact the system
• Why operators need to become far more strategic, not just in building businesses, but in positioning them for exit

About the Guest

Nick Fazioli is the Global Head of Aerospace and Aviation Investment Banking at Jefferies, where he leads one of the most active practices across commercial aviation, business aviation, and aerospace services. Over the past 16 years, he’s been at the center of some of the most significant transactions in business aviation, including the sale of Marquis Jet to NetJets and West Star Aviation’s exit to Greenbriar Equity Group. With a front-row seat to M&A, capital markets, and the evolving investor landscape, Nick brings a unique perspective on where capital is flowing and how operators should be thinking about growth and exit strategy in today’s market. Connect with Nick on LinkedIn. 

About Your Host

Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. 

Resources

For more aerospace industry news & commentary: https://craigpicken.com/insights/. 

To learn more about Craig Picken, visit https://craigpicken.com/.