UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
AMENDMENT NO. 5
UNDER THE SECURITIES EXCHANGE ACT OF 1934
COLUMBUS MCKINNON CORPORATION
- --------------------------------------------------------------------------------
(Name of issuer)
Common Stock, $.01 Par Value
- --------------------------------------------------------------------------------
199333-10-5
- --------------------------------------------------------------------------------
(Cusip Number)
Jeffrey E. Schwarz
Metropolitan Capital Advisors, Inc.
660 Madison Avenue
New York, NY 10021
(212) 486-8100
Robert F. Lietzow, Jr.
Lakeway Capital Partners, LLC
660 Madison Avenue
New York, NY 10021
(212)371-0600
Curtis Schenker
Scoggin Capital Management, L.P.
660 Madison Avenue
New York, NY 10021
(212) 355-7480
with copies to:
Joseph F. Mazzella
Lane Altman & Owens LLP
101 Federal Street
Boston, Massachusetts 02110
617-345-9800
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
October 22, 1999
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement [x]. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13-d(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 2 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
COLUMBUS MCKINNON SHAREHOLDERS COMMITTEE (1)
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 1,265,545
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,265,545
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.53%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
00
================================================================================
(1) Consists of Metropolitan Capital Advisors, Inc., Metropolitan Capital
III, Inc., Jeffrey Schwarz, Karen Finerman, Lakeway Capital Partners, LLC,
Robert F. Lietzow, Jr., Scoggin, Inc.,Scoggin, LLC, Curtis Schenker and Craig
Effron, each of whom joins in this filing, and each of whom denies beneficial
ownership of the shares beneficially owned by the other members of the Committee
except as otherwise described in Item 5 herein.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 3 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
METROPOLITAN CAPITAL ADVISORS, INC.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 371,290
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
371,290
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
371,290
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.50%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 4 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
METROPOLITAN CAPITAL III, INC.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 246,210
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
246,210
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
246,210
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.66%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 5 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
BEDFORD FALLS INVESTORS, LP
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 371,290
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
371,290
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
371,290
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.50%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 6 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
METROPOLITAN CAPITAL ADVISORS INTERNATIONAL, LTD.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH VIRGIN ISLANDS
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 246,210
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
246,210
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
246,210
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.66%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 7 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
JEFFREY E. SCHWARZ
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
7,200
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 617,500
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 7,200
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
617,500
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
624,700
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.21%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 8 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
KAREN FINERMAN
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 617,500
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
617,500
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
617,500
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.16%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D Page 9 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
SCOGGIN, INC.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 325,000
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
325,000
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
325,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.20%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 10 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
SCOGGIN CAPITAL MANAGEMENT, L.P.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 325,000
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
325,000
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
325,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.20%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 11 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
SCOGGIN, LLC
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 158,600
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
158,600
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
158,600
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.07%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 12 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
SCOGGIN INTERNATIONAL FUND, LIMITED
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
COMMONWEALTH OF BAHAMAS
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 158,600
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
158,600
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
158,600
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.07%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 13 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
CURTIS SCHENKER
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
7,500
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 488,600
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 7,500
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
488,600
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
496,100
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.34%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 14 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
CRAIG EFFRON
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
5,000
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 483,600
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 5,000
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
483,600
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
488,600
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.29%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 15 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
LAKEWAY CAPITAL PARTNERS, LLC
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 122,450
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
122,450
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
122,450
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.82%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 16 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
YAUPON PARTNERS, LP
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC, OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 118,750
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
118,750
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
118,750
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.80%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 17 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
YAUPON PARTNERS II, L.P.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC, OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,700
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
3,700
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,700
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.02%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 18 of 27 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
ROBERT F. LIETZOW, JR.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
17,295
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 122,450
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 17,295
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
122,450
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
139,745
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.94%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 19 of 27 Pages
----------- --------------------
This Amendment No. 5 relates to the Schedule 13D originally filed on
behalf of certain of the Reporting Persons with the Securities and Exchange
Commission on May 6, 1999, as supplemented and amended by Amendment No. 1 to
Schedule 13D filed on May 24, 1999, Amendment No. 2 to Schedule 13D filed on May
28, 1999, Amendment No. 3 to Schedule 13D filed on June 18, 1999 and Amendment
No. 4 to Schedule 13D filed on July 20, 1999. The text of Items 3,4,5 and 7, to
the extent previously supplemented and amended, are hereby further supplemented
and amended as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS
The source and amount of funds used to acquire the Common Stock
beneficially owned by each Reporting Person is as follows:
(i) The Committee does not own any shares separately from those owned by
its members.
(ii) (A) The sources of the funds used by Metropolitan Capital
to purchase Common Stock on behalf of Bedford Falls were
working capital and margin borrowing through brokerage
accounts maintained at Bear, Stearns & Company. The
approximate aggregate amount of funds used to purchase
such securities for Bedford Falls was $6,235,866. The
portion of such funds provided by margin borrowing is not
readily determinable and varies from time to time as a
result of varying margin account availability and other
unrelated, ongoing transactions in such accounts. All such
securities were acquired by open market purchases.
(B) The sources of funds used to purchase Common Stock on
behalf of Metropolitan International were working capital
and margin borrowing through brokerage accounts maintained
at Bear Stearns & Company. The approximate aggregate
amount of funds used to purchase such securities was
$4,450,152.50. The portion of such funds provided by
margin borrowing is not readily determinable and varies
from time to time as a result of varying margin account
availability and other unrelated ongoing transactions in
such accounts. All such securities were acquired by open
market purchases.
(iii) (A) The sources of funds used by Scoggin, Inc. to purchase
Common Stock on behalf of Scoggin Capital were working
capital and margin borrowing through brokerage accounts
maintained at Spear Leeds & Kellogg. The approximate
aggregate amount of funds used to purchase such securities
for Scoggin Capital was $6,018,150.50. The portion of such
funds provided by margin borrowing is not readily
determinable and varies from time to time as a result of
varying margin account availability and other unrelated,
ongoing transactions in such accounts. All such securities
were acquired by open market transactions.
(B) The source of funds used by Scoggin, LLC to purchase
Common Stock on behalf of Scoggin International were
working capital and margin borrowing through brokerage
accounts maintained at Spear Leeds & Kellogg. The
approximate aggregate amount of funds used to purchase
such securities for Scoggin International was
$3,306,076.50. The portion of such funds provided by
margin borrowing is not readily determinable and varies
from time to time as a result of varying margin account
availability and other unrelated, ongoing transactions in
such accounts. All such securities were acquired by open
market transactions.
<PAGE>
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 20 of 27 Pages
----------- --------------------
(iv) (A) The sources of the funds used by Lakeway Capital to
purchase Common Stock on behalf of Yaupon and Yaupon II
were working capital and margin borrowing through
brokerage accounts maintained at Spear Leeds & Kellogg.
The approximate aggregate amount of funds used to purchase
such securities for Yaupon and Yaupon II was $2,251,360.
The portion of such funds provided by margin borrowing is
not readily determinable and varies from time to time as a
result of varying margin account availability and other
unrelated, ongoing transactions in such accounts. All such
securities were acquired by open market transactions.
ITEM 4. PURPOSE OF THE TRANSACTION
The following supplements the information previously provided and set
forth in this Item 4 to Schedule 13D, as amended.
As previously reported, each of the Reporting Persons has acquired the
Issuer's securities over time to obtain a substantial equity position for
investment. The transaction initially reported on herein was the action of the
Reporting Persons to enter into an Agreement (attached as Exhibit B to the
initial Schedule 13D) to nominate and elect a slate of directors who would
implement a shareholder maximization process. At the Issuer's Annual Meeting of
Shareholders held on August 16, 1999 (the "Annual Meeting"), the Issuer's
incumbent directors were re-elected.
By letter to Timothy Tevens, Chief Executive Officer of the Issuer,
dated October 22, 1999 (attached hereto as Exhibit H), certain of the Reporting
Persons repeated their proposal that the Company explore alternatives to the
management's strategy. The Reporting Persons intend to continue to communicate
with management, other shareholders and third parties regarding transactions
which may result in enhanced values to shareholders. The Reporting Persons have
agreed that they will consult with each other regarding such communications from
time to time, and may share the expenses of such activities.
Each of the Reporting Persons may pursue the above steps individually,
or cooperatively with each other and other parties. To the extent one or more of
them do so, they may consult with experts, enter into agreements or
understandings with each other and third parties, or act together in the
purchase and sale of common stock of the Issuer, including with respect to the
allocation of expenses and securities pricing in such transactions. The
Reporting Persons may modify their intentions, and will continually consider
modifications of their investment and position, or trade in the Issuer's
securities from time to time based upon developments in the Issuer's business,
actions of management or a change in market or other conditions, and may
individually or together reduce or increase such holdings on an individual or
aggregate basis irrespective of their intention to pursue strategic alternatives
for the Issuer. In addition, the Reporting Persons may initiate other steps and
actions to affect the management or control of the Issuer based upon a
determination by them that the Issuer's management is not adequately considering
acquisition proposals made by third parties.
<PAGE>
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 21 of 27 Pages
----------- --------------------
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) (b) The beneficial ownership and voting and dispositive power of
each of the Reporting Persons over Common Stock of the Issuer as of the date
hereof is as follows:
(i) The Committee may be deemed to beneficially own 1,265,545 shares
of Common Stock, constituting approximately 8.53% of the shares
outstanding.
(ii) (A) Metropolitan Capital has purchased no shares of Common Stock
of the Issuer solely for its own account. However, Metropolitan
Capital may be deemed to have shared voting and dispositive
power over the 371,290 shares representing 2.50% of Common Stock
of the Issuer beneficially owned by Bedford Falls, which does
not include 2,000 shares beneficially owned by certain employees
of an affiliate of Metropolitan Capital.
In addition to the above, Metropolitan Capital may be deemed to
have shared voting power over 1,265,545 shares of Common Stock
of the Issuer representing 8.53% by virtue of being a member of
the Committee and a party to the Agreement referred to in Item
6 of the original Schedule 13D.
(B) Metropolitan Capital III, Inc. has purchased no shares of
Common Stock of the Issuer solely for its own account. However,
by reason of its position as General Partner of Metropolitan
Capital Partners III, L.P. which has discretionary voting and
dispositive power over the assets of Metropolitan International.
Metropolitan Capital III, Inc. may be deemed to have shared
voting and dispositive power over the 246,210 shares
representing 1.66% of the Common Stock of the Issuer owned by
Metropolitan International.
In addition to the above, Metropolitan Capital III, Inc. may be
deemed to have shared voting power over 1,265,545 shares of
Common Stock of the Issuer representing 8.53% by virtue of being
a member of the Committee and a party to the Agreement referred
to in Item 6.
(C) Jeffrey Schwarz may be deemed the beneficial owner of
617,500 shares representing 4.16% of the Common Stock of the
Issuer as a result of his being a director, executive officer
and controlling stockholder of Metropolitan Capital and
Metropolitan Capital III, Inc. Jeffrey Schwarz is the beneficial
owner of 7,200 shares representing .05% of the Common Stock of
the Issuer which he owns individually, which does not include
6,800 shares beneficially owned by certain family members and
trusts established for the benefit of certain family members of
Jeffrey Schwarz.
In addition to the above, Jeffrey Schwarz may be deemed to have
shared voting power over 1,265,545 shares of Common Stock of the
Issuer representing 8.53% by virtue of being a member of the
Committee and a party to the Agreement referred to in Item 6 of
the original Schedule 13D.
<PAGE>
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 22 of 27 Pages
----------- --------------------
(D) Karen Finerman may be deemed the beneficial owner of 617,500
shares representing 4.16% of the Common Stock of the Issuer as a
result of her being a director and executive officer of
Metropolitan Capital, and a director, executive officer and
stockholder of Metropolitan Capital III, Inc., which does not
include 8,000 shares beneficially owned by certain family
members of Karen Finerman.
In addition to the above, Karen Finerman may be deemed to have
shared voting power over 1,265,545 shares of Common Stock of the
Issuer representing 8.53% by virtue of being a member of the
Committee and a party to the Agreement referred to in Item 6 of
the original Schedule 13D.
(iii) (A) Scoggin, Inc. has purchased no shares of Common Stock of the
Issuer solely for its own account. However, Scoggin, Inc. may be
deemed to have shared voting and dispositive power over the
325,000 shares representing 2.20% of the Common Stock of the
Issuer beneficially owned by Scoggin Capital.
In addition to the above, Scoggin, Inc. may be deemed to have
shared voting power over 1,265,545 shares of Common Stock of the
Issuer representing 8.53% by virtue of being a member of the
Committee and a party to the agreement referred to in Item 6 of
the original Schedule 13D.
(B) Scoggin, LLC has purchased no shares of Common Stock of the
Issuer solely for its own account. However, Scoggin, LLC may be
deemed to have shared voting and dispositive power over 158,600
shares representing 1.07% of the Common Stock of the Issuer
benefically owned by Scoggin International.
In addition to the above, Scoggin, LLC may be deemed to have
shared voting power over 1,265,545 shares of Common Stock of the
Issuer representing 8.53% by virtue of being a member of the
Commitee and a party to the Agreement referred to in Item 6 of
the original Schedule 13D.
(C) Curtis Schenker may be deemed the beneficial owner of
483,600 shares representing 3.26% of the Common Stock of the
Issuer as a result of his being a director and executive officer
of Scoggin, Inc. In addition, Curtis Schenker may be deemed
beneficial owner of 5,000 shares representing .03% of the Issuer
as a result of being a controlling partner in certain
partnerships that own such shares. Schenker also is the
beneficial owner of 7,500 shares representing .05% of the Common
Stock of the Issuer which he owns individually.
In addition to the above, Curtis Schenker may be deemed to have
shared voting power over 1,265,545 shares of Common Stock of the
Issuer representing 8.53% by virtue of being a member of the
Committee and a party to the Agreement referred to in Item 6 of
the original Schedule 13D.
(D) Craig Effron may be deemed the beneficial owner of 483,600
shares representing 3.26% of the Common Stock of the Issuer as a
result of his being a director and executive officer of Scoggin,
Inc. Effron is the beneficial owner of 5,000 shares representing
.03% of the Common Stock of the Issuer which he owns
individually.
In addition to the above, Craig Effron may be deemed to have
shared voting power over 1,265,545 shares of Common Stock of the
Issuer representing 8.53% by virtue of being a member of the the
Committee and a party to the Agreement referred to in Item 6 of
the original Schedule 13D.
<PAGE>
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 23 of 27 Pages
----------- --------------------
(iv) (A) Lakeway Capital has purchased no shares of Common Stock of
the issuer solely for its own accounts. However, Lakeway Capital
may be deemed to have shared voting and dispositive power over
the 122,450 shares representing .82% of Common Stock of the
Issuer beneficially owned by Yaupon and Yaupon II.
In addition to the above, Lakeway Capital may be deemed to have
shared voting power over 1,265,545 shares of Common Stock of the
Issuer representing 8.53% by virtue of being a member of the
Committe and a party to the Agreement referred to in Item 6 of
the original Schedule 13D.
(B) Robert F. Lietzow, Jr. may be deemed the beneficial owner of
122,450 shares representing .82% of the Common Stock of the
Issuer as a result of his being the sole Managing Member of
Lakeway Capital. Lietzow is the beneficial owner of 17,295
shares representing .12% of the Common Stock of the Issuer which
he owns individually.
In addition to the above, Lietzow may be deemed to have shared
voting power over 1,265,545 shares of Common Stock of the Issuer
representing 8.53% by virtue of being a member of the Committee
and a party to the agreement referred to in Item 6 of the
original Schedule 13D.
<TABLE>
<S> <C>
The number of shares beneficially owned and the percentage of outstanding shares reported thereby, for each of the Reporting
Persons, have been computed in accordance with Rule 13D-3 under the Securities Exchange Act of 1934, as amended. The percentages of
ownership described in this Amendment No. 5 to Schedule 13D are based on an aggregate 14,844,300 shares of Common Stock reported
outstanding by the Issuer in its Form 10-Q filed on August 18, 1999.
(c) Transactions in the class of securities reported on herein effected in the last 60 days by Metropolitan Capital Advisors, Inc.
for and on behalf of Bedford Fall Investors, L.P. are as follows:
Date Purchase/Sale No. of Shares Price Per Share Total
10/15/99 Purchase 2,250 $16.75 $37,680.00
10/19/99 Purchase 2,240 $16.46 $36,863.00
Transactions in the class of securities reported on herein effected in the last 60 days by Metropolitan Capital III, Inc. for and on
behalf of Metropolitan Capital Advisors International, Ltd. are as follows:
Date Purchase/Sale No. of Shares Price Per Share Total
10/15/99 Purchase 2,800 $16.75 $46,887.00
10/19/99 Purchase 2,810 $16.46 $46,239.50
Transactions in the class of securities reported on herein effected in the last 60 days by Scoggin, Inc. for and on behalf of
Scoggin Capital Management, L.P. are as follows:
Date Purchase/Sale No. of Shares Price Per Share Total
10/14/99 Purchase 2,500 $16.75 $41,862.50
Transactions in the class of securities reported on herein effected in the last 60 days by Scoggin, LLC for and on behalf of Scoggin
International Fund Limited are as follows:
Date Purchase/Sale No. of Shares Price Per Share Total
10/14/99 Purchase 1,450 $16.75 $24,285.50
10/19/99 Purchase 3,950 $16.46 $64,990.00
Transactions in the class of securities reported on herein effected in the last 60 days by Lakeway Capital Partners, LLC for and on
behalf of Yaupon Partners, L.P. are as follows
Date Purchase/Sale No. of Shares Price Per Share Total
10/15/99 Purchase 1,000 $16.75 $16,752.50
10/19/99 Purchase 1,000 $16.46 $16,462.50
</TABLE>
(d) Not Applicable
(e) Not Applicable
<PAGE>
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 24 of 27 Pages
----------- --------------------
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit A. Agreement of Joint Filing (Previously Filed)
Exhibit B. Agreement of Stockholders (Previously Filed)
Exhibit C. Letter to Issuer dated May 5, 1999 (Previously Filed)
Exhibit D. Letter to Issuer dated May 24, 1999 (Previously Filed)
Exhibit E. Letter to Shareholders dated May 24, 1999 (Previously Filed)
Exhibit F. Issuer's Complaint filed May 25, 1999 (Previously Filed)
Exhibit G. Press Release dated May 26, 1999 (Previously Filed)
Exhibit H. Letter to Timothy Tevens dated October 22,1999
<PAGE>
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 25 of 27 Pages
----------- --------------------
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
METROPOLITAN CAPITAL ADVISORS, INC.
By:/s/ Jeffrey E. Schwarz
-------------------------------------------
Jeffrey E. Schwarz, Chief Executive Officer
METROPOLITAN CAPITAL III, INC.
By:/s/ Jeffrey E. Schwarz
-------------------------------------------
Jeffrey E. Schwarz, Chief Executive Officer
METROPOLITAN CAPITAL ADVISORS INTERNATIONAL, LTD.
By: Metropolitan Capital III, L.P.
By: Metropolitan Capital III, Inc.
By: /s/ Jeffrey E. Schwarz
---------------------------------------------
Jeffrey E. Schwarz, Chief Executive Officer
BEDFORD FALLS INVESTORS, L.P.
By: Metropolitan Capital Advisors, L.P.
By: Metropolitan Capital Advisors, Inc.
By: /s/ Jeffrey E. Schwarz
---------------------------------------------
Jeffrey E. Schwarz, Chief Executive Officer
By: /s/ Jeffrey E. Schwarz
---------------------------------------------
Jeffrey E. Schwarz
By: /s/ Karen Finerman
---------------------------------------------
Karen Finerman
Dated as of: October 25, 1999
<PAGE>
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 26 of 27 Pages
----------- --------------------
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
Yaupon Partners, L.P.
By: Lakeway Capital Partners, LLC
By: /s/ Robert F. Lietzow, Jr.
---------------------------------------------
Robert F. Lietzow, Jr.
Managing Member
Yaupon Partners II, L.P.
By: Lakeway Capital Partners, LLC
By: /s/ Robert F. Lietzow, Jr.
---------------------------------------------
Robert F. Lietzow, Jr.
Managing Member
Lakeway Capital Partners, LLC
By: /s/ Robert F. Lietzow, Jr.
---------------------------------------------
Robert F. Lietzow, Jr.
Managing Member
By: /s/ Robert F. Lietzow, Jr.
---------------------------------------------
Robert F. Lietzow, Jr.
Dated as of: October 25, 1999
<PAGE>
CUSIP No. 199333-10-5 SCHEDULE 13D/A Page 27 of 27 Pages
----------- --------------------
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
Scoggin Capital Management, L.P.
By: S&E Partners, L.P., its General Partner
By: Scoggin, Inc., its General Partner
By: /s/ Curtis Schenker
---------------------------------------------
Curtis Schenker, its Executive Officer
SCOGGIN INTERNATIONAL FUND, LTD.
By: Scoggin, LLC, its Investment Advisor
By: /s/ Curtis Schenker
---------------------------------------------
Curtis Schenker, Managing Member
Scoggin, LLC
By: /s/ Curtis Schenker
---------------------------------------------
Curtis Schenker, Managing Member
Scoggin, Inc.
By: /s/ Curtis Schenker
---------------------------------------------
Curtis Schenker, its Chief Executive Officer
By: /s/ Craig Effron
---------------------------------------------
Craig Effron
By: /s/ Curtis Schenker
---------------------------------------------
Curtis Schenker
Dated as of: October 25, 1999
<PAGE>
EXHIBIT H
---------
October 22, 1999
Mr. Timothy Tevens
Chief Executive Officer
Columbus McKinnon Corporation
140 John James Audubon Parkway
Amherst, New York 14228-1197
Dear Tim:
This past summer the Columbus McKinnon's Shareholder Committee
unsuccessfully fought a proxy contest in which we proposed an alternate slate of
directors for election to the Company's board. Our agenda was to immediately
pursue a strategy of value maximization, principally by actively exploring a
sale, merger or recapitalization of the Company. You argued that it was not the
time to sell the Company, that management had a plan to maximize shareholder
value and that shareholders would soon see the benefits of that plan. The
performance of Columbus's stock price since the annual meeting shows that the
market is dissatisfied with management's strategy and now is the time to take
immediate steps to maximize shareholder value.
Yesterday, the Company's stock closed at $15 5/8 per share, down 22%
since management's Board was re-elected on August 16, down 13.2% percent in
calendar 1999, and down 35.6% since the beginning of 1998. Yesterday's closing
price is a mere 4% above the price at which the Company went public, over 3 1/2
years ago. This represents an annual rate of return of approximately 1%.
Moreover, it appears that even the sell-side analysts are beginning to
lose their confidence in the stock. Bear Stearns has reduced it price target a
whopping 25%, from $32 to $24, and the consensus earnings estimate for fiscal
2000 has declined.
Despite your recent poor performance, we continue to believe that there
is significant unrealized value in Columbus's core business. The core business
generates enormous cash and the Company trades at a very low multiple to cash
flow. The Company is a dominant player in the hoist industry, and its products
enjoy an excellent reputation. For this reason, we believe that Columbus's would
be an attractive acquisition target for a corporate buyer, strategic investor or
a leveraged buy-out firm. Based on our conversations with third parties, we are
convinced that there would be interest in the Company, if management were more
receptive.
We have demonstrated our conviction that there is significant
unrealized value in Columbus McKinnon by purchasing more stock since the annual
meeting. We had hoped to see management show a similar conviction. Frankly,
given the low market price of the stock, we have been stunned that management
purchases have been nothing but anemic. We are no less than appalled that you,
the CEO of the Company, who earns close to half a million dollars a year, have
bought only 250 shares, since the shareholder meeting. We can only conclude that
when it comes to your personal assets, you have little confidence in your own
plan for shareholder value. It is unreasonable to expect other shareholders and
the market to endorse a plan in which you apparently don't have confidence.
We urge you to reconsider your opposition to our strategy and to focus
your efforts on maximizing shareholder value. Our group intends to monitor your
efforts to create value for Columbus's shareholders, and we will continue to
have discussions with other shareholders, investment bankers and potential
purchasers of the Company so that we can help secure maximum value for all
shareholders.
Sincerely,
Jeffrey E. Schwarz
