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