Seabury Capital Management LLC (SCM), a Registered Investment Advisor (RIA) with the SEC and a subsidiary of Seabury Capital Group (Seabury Capital), leverages its deep industry expertise and broad advisory experience to uncover and capitalize on investment opportunities in the Aerospace, Aviation, and Defense (AA&D) sectors. Its approach integrates strategic relationships and market intelligence to create unique value in every investment.

Using the Seabury organization’s value add (Global Presence, Core Competency, and Industry Expertise), SCM invests in equity and debt instruments across AA&D sectors. Seabury’s ability to “connect the dots” across market dynamics, client needs, and investment potential allows it to offer best-in-class analysis and tailored solutions. Its seasoned senior management team and unmatched advisory board further reinforce its standing in the AA&D ecosystem.

SCM’s value proposition is bolstered by its ability to source investment opportunities through Seabury Capital’s consulting and advisory engagements. This integration of services enables SCM to maintain a competitive advantage in both identifying and executing on high-quality deals. Seabury’s relationships with key stakeholders in finance, industry, and government ensure early access to strategic opportunities and potential co-investment scenarios with larger financial sponsors.

SCM creates synergistic benefits for its businesses, clients, and employees. Its approach enables Seabury to grow alongside its clients and investors, reinforcing its position as a trusted partner and strategic advisor in the global AA&D sector.

SCM’s investment strategies are built to complement Seabury Capital’s advisory businesses and maximize synergies across the firm’s ecosystem. These strategies are implemented through distinct funds that target niche opportunities within the broader AA&D market.

AA&D Merchant Banking

SCM provides merchant banking services, placing itself at risk with clients and investors. Unlike traditional advisory firms that earn fees regardless of outcome, SCM aligns its success with that of its partners by co-investing in transactions and assuming financial exposure alongside its clients. This approach not only signals deep commitment but also cultivates trust with clients and potential investors.

SCM primarily deploys its merchant banking strategy for capital raise engagements, with the opportunity to also engage with buy-side and sell-side transactions. This fosters a culture of accountability and long-term partnership, where SCM provides continuous support throughout various stages of company development. Through this unique posture, SCM not only enhances deal credibility but also reinforces its reputation as a long-term partner invested in the future, not just transactions.

AA&D Investments

In its capacity as an SEC registered RIA, SCM acts as an investment manager to Seabury Opportunities Fund I (SOFI). Along with Seabury Offshore Opportunities Fund I (SOOFI), directs investments into the AA&D sector with two strategies:

Private Equity

• • Focus: EBITDA-based private equity investing in aviation, aerospace, defense, travel, and related technologies, excluding airlines and commercial aviation leasing.
  • Structure: Anchor investor followed by third-party limited partners and external managing fund partners.
  • Co-Investment: Opportunities alongside major private equity and hedge funds.

Private Credit

• • Focus: Supply chain financing with major OEMs leveraging Seabury Capital’s businesses.
  • Structure: Anchor investor, followed by syndication and participation from credit funds.
  • Co-Investment: High interest from major credit funds in Seabury’s value-added participation.

SCM’s investment thesis will focus on four main areas within the AA&D sectors:

Commercial & Corporate Aviation

• • Crew planning / scheduling
  • Seabury Solutions opportunities
  • eVTOL infrastructure & services
  • Airport & ground operations
  • Back-end & distribution
  • Pilot training
  • Fixed-Based Operators

Supply Chain and Specialized Manufacturing

• • OEM / tiered / sub-tier suppliers
  • Machining & tooling, manufacturing
  • Composites, piping & hardware
  • Engine components and systems
  • Paints, coatings, and sealants
  • Avionics, control systems & electronics

Aftermarket / MRO

• • Component and Engine MRO
  • Line Maintenance and Heavy MRO
  • Consumables and PMA
  • Predicative maintenance & software
  • Teardown and parts trading
  • Inventory management

Defense

• • Electronic components
  • Systems & sensors
  • IT services, cyber security
  • Communication & connectivity
  • Satellites & space systems
  • Communication & connectivity
  • Data services, government and security

Additional Fund Strategies

In addition to directing SOFI and SOOFI investments, SCM will utilize its investment expertise to capitalize on investments with strategic advantage to Seabury Group and its shareholders. These investments will come in the form of the following:

Family Office Fund

• Focus: Investments in companies with breakthrough or transformational technologies within aviation, aerospace, defense, and travel sectors.
• Structure: Anchor investor plus specialized fund co-investors.

Leadership

SCM is led by John E. Luth (Chairman, President, and CEO) and Patrick Henry Dowling (Senior Managing Director). Execution staff include Jack Joyce (Senior Vice President), Zachary Tegeler (Vice President), Jacob Bucci (Associate), and Thomas Murray (Associate).

• John E. Luth: John Luth is Chairman, President & CEO of Seabury Capital Group LLC, founded in 1995, which focuses principally on aviation, aerospace & defense, travel and trade finance via its investment banking, asset management and software businesses. Seabury has executed over 5,000 engagements for 500+ clients in more than 75 countries. Mr. Luth is also CEO of Seabury Capital LLC which owns a number of trade finance and asset-back portfolios with over $1.2B of managed assets as well as Seabury Capital Management LLC (“SCM”) which is an SEC-regulated Registered Investment Advisor. SCM is in the process of establishing a series of funds for deployment of capital in the aviation, aerospace & defense, travel and technology sectors.Mr. Luth has led a majority of Seabury’s engagements involving $350B equity, debt and lease placements/restructurings and $450B in aircraft orders (all amounts in 2025 dollars). Mr. Luth currently leads Seabury’s engagement as investment banker and restructuring advisors for GOL Airlines, raising $1.0B of DIP loan financing for GOL and working to secure ~$2.0B of exit financing. He most recently advised Scandinavian Airlines in its Chapter 11 case, raising $500M of DIP financing and $1.2B of exit equity and convertible debt financing commitments (2024). He advised Azul Airlines on its out-of-court restructuring including $4.5B lease restructuring, $865M of public bond exchange, $350M of convertible bond exchange and $800M of new debt financing (2023). In 2020-2021, he advised Avianca Holdings SA as restructuring advisor and lead investment bank on its $2.0B DIP financing and $2.7B of equity and debt exit financing in its Chapter 11 proceeding.Mr. Luth was CFO & CIO of Continental Airlines. Prior to Continental, he served as VP, Syndications at Manufacturers Hanover Trust Company. Prior to that, he served in the Corporate Finance Division of Exxon Corporation. Mr. Luth holds A.B. in Economics magna cum laude from the College of the Holy Cross and an M.B.A. in Finance from the Wharton Graduate School of the University of Pennsylvania. He is a FINRA Registered Principal, and is Series 7, 63, 79 and 24 qualified, and is also FCA (UK) licensed. He serves on the Advisory Board of Holy Cross and was a Trustee from 2005-2013.
• Patrick Henry Dowling: Patrick Henry Dowling is Senior Managing Director for Seabury Capital Management focusing on the Aviation, A&D and Transportation industries. He has over 45 years’ experience in the finance/ private equity industry and was previously a partner with Massif Partners.Previously, Mr. Dowling was Senior Managing Director & Group Head of Aerospace & Defense at Tygris Commercial Finance Group as well as a corporate officer and founder. Before Tygris, he was Managing Director & General Manager of CIT Leveraged Finance Transportation responsible for providing global solutions to manufacturers, suppliers and service providers seeking debt, leasing and structured financings. Mr. Dowling also served as a member of CIT’s Management Committee.In addition, he was previously Managing Director & Industry Leader – Aerospace & Defense for GE Commercial Finance. Mr. Dowling had a 22-year career at GE Capital, serving in various management and leadership positions including Managing Director for GE Equity, Managing Director and Head of Syndications for GE Corporate Finance as well as Managing Director for GE Capital Business Development where he was focused on growing GE Capital with strategic mergers and acquisitions.

  Mr. Dowling has been involved in over $30 billion in acquisitions, equity investments and debt financing in the Financial Services, Transportation (Aviation and Aerospace & Defense, Trucking, Logistics, and Rail), and Commercial Real Estate industries. He successfully launched CIT Aerospace & Defense Commercial and Industrial Finance business de novo with approximately $2.5 billion in commitments and managed a portfolio of approximately $750 million. Mr. Dowling originated and managed a $430 million portfolio of minority equity investments at GE Equity.

  Mr. Dowling is a past member of the Advisory Board of Directors for the U.S. Chamber of Commerce Foundation and currently sits on the Chamber’s Transportation, Infrastructure, and Supply Chain Committee as well as the Space Industry Council and Federal Acquisition Council. He is a member of the USO Advisory Board of Directors for the US Northeast Region, and serves as Chairman of the Miss Kate Foundation. He served on the Board of Trustees for Airlink and is now an Ambassador, as well as a member of the Audax Business Development Corporation Board of Directors. He was formerly on the board of directors for the Institute for Defense & Business Foundation, Penske Truck Leasing and the American Trucking Associations Foundation. He is a certified public accountant started his career at Price Waterhouse and is a current member of the American Institute of Certified Public Accountants as well as having a BS in accounting from Fordham University plus a JD from Pace University School of Law. He is the Chief Compliance Officer for Seabury Capital Management LLC’s Registered Investment Advisor (RIA), Seabury Securities LLC, and Seabury Securities UK Ltd and is a FINRA Registered Principal with Series 7 and 24 qualifications.