Nick Fedeli Executive vice president of The Fedeli Group

In March of 2020, when many businesses were starting to close down, Nick Fedeli was still busy networking to expand The Fedeli Group. With a vision of being insurance specialists in certain industries, Fedeli’s philosophy is to expand into verticals in which the firm can utilize its intellectual capital.

“We want to be experts in many industries such as aviation, construction and real estate,” said Fedeli, who serves as executive vice president of the family-owned firm and directs the strategy for business development, recruiting and acquisition. Now, one of the relationships he forged during the lockdown is blooming into an acquisition that has doubled the size of TFG Aviation, The Fedeli Group’s aviation insurance practice.

“Strategically, we’re trying to grow in niche areas like aviation where we have a lot of expertise and technical competency,” Fedeli said. “In order to differentiate ourselves, we have to really understand the industries we serve. We have to think about business risks from our clients’ perspectives, so we can become the go-to concierge for solving those challenges.”

Fedeli has been actively growing TFG Aviation over the last decade since he joined the firm. Prior to the acquisition, the practice insured more than $2 billion of aircraft value, serving aircraft companies, aircraft parts manufacturers and service providers operating around the globe. The latest transaction began with an introduction to Larry Galizi of Aviation Risk Management Associates from mutual friends who are brokers in London. The deal officially closed on May 1.

While Fedeli is always eyeing opportunities like these in various insurance specializations, The Fedeli Group doesn’t hesitate to walk away from potential mergers and acquisitions if they’re not a strategic fit. This acquisition is the perfect match, Fedeli says — not just because of the firm’s aviation focus, but because of the client-centered culture that surrounds it.

“This is ideal because culturally, the firm we’re acquiring is a lot like ours,” he says. “Their clients are at the center of their universe, the way our clients are at the center of ours.”

The acquisition will expand TFG Aviation’s client base and team size, adding specialized aviation expertise to deepen its existing practice. At the same time, The Fedeli Group’s risk management experience will strengthen the breadth of services available to the acquired firm.

“There are synergies, as we bring more value-added services to their existing clients,” Fedeli says. This deal combines the firm’s aviation focus with The Fedeli Group’s “well-roundedness and robust coverage competency” that spans professional liability, cyber security insurance, employee benefits and more.

The Fedeli family is evaluating other investment opportunities even outside the insurance industry. “First and foremost, we strive to be disciplined, astute investors,” Fedeli says. “However, with regards to The Fedeli Group, we want to continue to get better in order to engage and impact the lives of our clients.”

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