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CUSIP NO. 913483 10 3 Page 1 of 14
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. __)
UNIVERSAL ELECTRONICS INC.
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(Name of Issuer)
Common Stock, $.01 par value per share
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(Title of Class of Securities)
913483 10 3
--------------------
(CUSIP Number)
Geoffrey Nixon Copy to: Robert G. Leonard
MCM Associates Ltd. Spitzer & Feldman P.C.
11 West 42nd Street 405 Park Avenue
New York, NY 10037 New York, NY 10022-4405
(212) 782-0207 (212) 888-6680
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
February 6, 1998
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(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. / /
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SCHEDULE 13D
CUSIP NO. 913483 10 3 Page 2 of 14
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Geoffrey Nixon (SS# ###-##-####)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a)/x/
(b)/ /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
PF
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New Zealand
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NUMBER OF 7 SOLE VOTING POWER
SHARES -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY 13,000
-----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH 13,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Instructions) / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2% (based on 6,311,538 shares outstanding at 11/12/97)
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14 TYPE OF REPORTING PERSON (See Instructions)
IN
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CUSIP NO. 913483 10 3 Page 3 of 14
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Mission Partners, L.P. (EIN# 33-0569956)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a)/x/
(b)/ /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
WC
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
267,750
SHARES -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER
267,750
REPORTING -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
267,750
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Instructions) / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.2% (based on 6,311,538 shares outstanding at 11/12/97)
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14 TYPE OF REPORTING PERSON (See Instructions)
PN
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SCHEDULE 13D
CUSIP NO. 913483 10 3 Page 4 of 14
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Liberty Nominees Limited (EIN# N/A)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a)/x/
(b)/ /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
WC
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New Zealand
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NUMBER OF 7 SOLE VOTING POWER
37,950
SHARES -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER
37,950
REPORTING -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
37,950
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Instructions) / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6% (based on 6,311,538 shares outstanding at 11/12/97)
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14 TYPE OF REPORTING PERSON (See Instructions)
CO
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SCHEDULE 13D
CUSIP NO. 913483 10 3 Page 5 of 14
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Horizon Offshore, Ltd. (EIN# N/A)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a)/x/
(b)/ /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
WC
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
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NUMBER OF 7 SOLE VOTING POWER
33,300
SHARES -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER
33,300
REPORTING -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
33,300
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Instructions) / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5% (based on 6,311,538 shares outstanding at 11/12/97)
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14 TYPE OF REPORTING PERSON (See Instructions)
CO
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SCHEDULE 13D
CUSIP NO. 913483 10 3 Page 6 of 14
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
M Partners L.P. (EIN# 13-3783468)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a)/x/
(b)/ /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
WC
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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NUMBER OF 7 SOLE VOTING POWER
25,100
SHARES -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER
25,100
REPORTING -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,100
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Instructions) / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4% (based on 6,311,538 shares outstanding at 11/12/97)
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14 TYPE OF REPORTING PERSON (See Instructions)
PN
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<PAGE>
SCHEDULE 13D
CUSIP NO. 913483 10 3 Page 7 of 14
Item 1. Security and Issuer
This statement on Schedule 13D (the "Statement") relates to the
Common Stock, $.01 par value per share (the "UE Common Stock") of Universal
Electronics Inc., a Delaware corporation ("UE"). The principal executive
offices of UE are located at 1864 Enterprise Parkway West, Twinsburg, Ohio
44087.
Item 2. Identity and Background
Items 2(a), (b), (c) and (f).
This Statement is filed by Geoffrey Nixon ("Nixon"), Mission
Partners, L.P. ("Mission"), Liberty Nominees Limited ("Liberty"), Horizon
Offshore, Ltd. ("Horizon") and M Partners L.P. ("M Partners") (collectively
the "Group"; each member of the Group being hereinafter referred to as
"Member"). Nixon's principal business address is 11 West 42nd Street, 19th
Floor, New York, NY 10036. Nixon's principal occupation is serving as
President of MCM Associates, Ltd., a Delaware corporation ("MCM"). The
principal business address of MCM is 11 West 42nd Street, 19th Floor, New
York, NY 10036. MCM is engaged in the business of managing investment funds
for private pooled investment vehicles and managing designated accounts for
certain other parties. MCM is wholly-owned by Nixon and Nixon is its sole
director. Nixon is a citizen of the Country of New Zealand. Mission is a
private Delaware investment limited partnership that is engaged in the
business of making diversified investments. The principal business address
of Mission is 11 West 42nd Street, 19th Floor, New York, NY 10036. The sole
general partner of Mission is MCM. Liberty is a private New Zealand company
that is engaged in making diversified investments. Its principal business
address is at P.O. Box 10-246, Wellington, New Zealand. Liberty has
established an account over which MCM has sole investment discretion. It is
the account over which MCM has sole investment discretion that has purchased
the shares of UE Common Stock. Horizon is a private Cayman Islands
investment corporation that is engaged in the business of making diversified
investments. Horizon's principal business address is at c/o International
Management Services, Limited, Harbour Centre, North Church Street, P.O. Box
616, George Town, Grand Cayman, Cayman Islands, B.W.I. MCM is the sole
investment manager of Horizon and MCM has full voting and dispositive power
with respect to all of the securities owned by Horizon. M Partners is a New
York limited partnership engaged in the business of making diversified
investments. M Partners principal business address is at 42 Pleasant Street,
Watertown, MA 02172. M Partners has established an account over which it has
given sole investment discretion to MCM. It is the account over which MCM
has sole investment discretion that has purchased shares of UE Common Stock.
<PAGE>
SCHEDULE 13D
CUSIP NO. 913483 10 3 Page 8 of 14
Item 2(d).
During the last five years, neither Nixon, MCM, Mission nor Horizon
nor, to the best of Nixon's knowledge, Liberty or M Partners, have been
convicted in a criminal proceeding (excluding traffic violations and similar
misdemeanors).
Item 2(e).
During the last five years, neither Nixon, MCM, Mission nor Horizon
nor, to the best of Nixon's knowledge, Liberty or M Partners, have been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to
judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, Federal or state securities
laws or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration
All shares currently owned by the Group were acquired by the
members through personal funds, in the case of Nixon, and working capital, in
the case of Mission, Liberty, Horizon and M Partners. Nixon has used
$130,165.00 in the aggregate to acquire the 13,000 shares of UE Common Stock.
Mission has used $2,292,833.15 in the aggregate to acquire the 267,750
shares of UE Common Stock. Liberty has used $321,061.00 in the aggregate to
acquire the 37,950 shares of UE Common Stock. Horizon has used $307,252.90
in the aggregate to acquire the 33,300 shares of UE Common Stock. M Partners
has used $221,476.55 in the aggregate to acquire the 25,100 shares of UE
Common Stock.
Item 4. Purpose of Transaction
The purpose of the acquisition of the securities is for investment
purposes. Other than as discussed above in this Statement, neither the Group
nor any of its Members currently have any plans or proposals which relate to
or would result in:
(a) the acquisition by any person of additional securities of UE, or
the disposition of securities of UE;
(b) any extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving UE or any of its
subsidiaries;
(c) a sale or transfer of a material amount of the assets of UE or
any of its subsidiaries;
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SCHEDULE 13D
CUSIP NO. 913483 10 3 Page 9 of 14
(d) any change in the present Board of Directors or management of UE,
including any change in the number or term of directors or the
filling of any existing vacancies on the Board of Directors;
(e) any material change in the present capitalization or dividend
policy of UE;
(f) any other material change in UE's business or corporate
structure;
(g) any change in UE's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of
control of UE by any person;
(h) the delisting of any class of securities of UE from a national
securities exchange or any such class ceasing to be authorized to
be quoted in an inter-dealer quotation system of a registered
national securities association;
(i) any class of equity securities of UE becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the
Securities Exchange Act of 1934, as amended (the "Exchange Act");
or
(j) any action similar to any of those enumerated above.
The Group intends to evaluate continuously their investment in UE
and, based on such evaluation, may determine at a future date to change their
respective current positions as to any action enumerated above.
Item 5. Interest in Securities of the Issuer
(a) Nixon owns 13,000 shares of UE Common Stock, representing 0.2%
of UE's issued and outstanding shares (based on 6,311,538 shares outstanding
at November 12, 1997). Mission owns 267,750 shares of UE Common Stock,
representing 4.2% of UE's issued and outstanding shares (based on 6,311,538
shares outstanding at November 12, 1997). Liberty owns 37,950 shares of UE
Common Stock, representing 0.6% of UE's issued and outstanding shares (based
on 6,311,538 shares outstanding at November 12, 1997). Horizon owns 33,300
shares of UE Common Stock, representing 0.5% of UE's issued and outstanding
shares (based on 6,311,538 shares outstanding at November 12, 1997). M
Partners owns 25,100 shares of UE Common Stock, representing 0.4% of UE's
issued and outstanding shares (based on 6,311,538 shares outstanding at
November 12, 1997).
<PAGE>
SCHEDULE 13D
CUSIP NO. 913483 10 3 Page 10 of 14
(b) Each Member is the sole beneficial owner of the securities
identified in subsection (a) above, except that Nixon owns the 13,000 shares
of UE Common Stock jointly with his wife. MCM, as the sole general partner
of Mission, has sole voting and dispositive power over the UE Common Stock
owned by Mission. MCM, as the sole investment manager of an account
established by Liberty, has sole voting and dispositive power over the shares
of UE Common Stock owned by Liberty. MCM as the sole investment manager of
Horizon, has sole voting and dispositive power over the shares of UE Common
Stock owned by Horizon. MCM, as the sole investment manager of an account
established by M Partners, has sole voting and dispositive power over the UE
Common Stock owned by M Partners.
(c) Set forth below is a schedule listing the Members of the
Group, date of transaction, amount of UE Common Stock involved and price per
share during the last sixty (60) days. All transactions were effected in
open market purchases on the NASDAQ, National Market:
<TABLE>
<CAPTION>
Number of Shares Price Per Share
Date of UE Common Stock of UE Common Stock
---- ------------------ ------------------
<S> <C> <C> <C>
Nixon(1)
12/30/97 3,000 $9.96
Mission(2)
12/23/97 3,000 $9.44
12/26/97 3,700 $9.45
12/30/97 3,000 $9.56
01/05/98 2,500 $10.06
01/06/98 1,500 $10.03
02/06/98 5,800 $10.05
02/09/98 4,000 $10.03
02/09/98 17,600 $10.13
02/10/98 7,900 $10.13
02/11/98 5,000 $10.06
02/12/98 3,500 $10.06
</TABLE>
- ------------------
(1) Prior to December 30, 1997, Nixon owned 10,000 shares of UE
Common Stock.
(2) Prior to December 23, 1997, Mission owned 210,250 shares of UE
Common Stock.
<PAGE>
SCHEDULE 13D
CUSIP NO. 913483 10 3 Page 11 of 14
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Liberty(3)
01/06/98 1,500 $10.03
02/06/98 800 $10.05
02/09/98 3,100 $10.13
02/10/98 800 $10.13
Horizon(4)
12/23/97 500 $9.44
01/02/98 1,500 $10.07
02/06/98 5,000 $10.05
02/09/98 2,800 $10.13
02/10/98 800 $10.13
M Partners(5)
01/02/98 800 $10.07
01/06/98 2,000 $10.04
02/06/98 400 $10.08
02/09/98 1,500 $10.13
02/10/98 500 $10.13
02/12/98 4,000 $10.06
</TABLE>
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
None. See Item 2 above.
Item 7. Materials to be Filed as Exhibits
Joint Filing Agreement.
- --------------
(3) Prior to January 6, 1998, Liberty owned 31,750 shares of
UE Common Stock.
(4) Prior to December 23, 1997, Horizon owned 22,700 shares of
UE Common Stock.
(5) Prior to January 2, 1998, M Partner owned 15,900 shares of
UE Common Stock.
<PAGE>
SCHEDULE 13D
CUSIP NO. 913483 10 3 Page 12 of 14
SIGNATURE
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.
Dated: February 13, 1998
/s/ Geoffrey Nixon
---------------------------------------------
GEOFFREY NIXON
MISSION PARTNERS, L.P.
By: MCM Associates, Ltd., General Partner
By: /s/ Geoffrey Nixon
-----------------------------------------
Name: Geoffrey Nixon
Title: President
LIBERTY NOMINEES LIMITED
By: MCM Associates, Ltd., Investment Manager
By: /s/ Geoffrey Nixon
----------------------------------------
Name: Geoffrey Nixon
Title: President
HORIZON OFFSHORE, LTD.
By: /s/ Geoffrey Nixon
----------------------------------------
Name: Geoffrey Nixon
Title: Director
M PARTNERS, L.P.
By: MCM Associates, Ltd., Investment Manager
By: /s/ Geoffrey Nixon
----------------------------------------
Name: Geoffrey Nixon
Title: President
<PAGE>
SCHEDULE 13D
CUSIP NO. 913483 10 3 Page 13 of 14
JOINT FILING AGREEMENT
JOINT FILING AGREEMENT made as of this 13th day of February, 1998, by
and among GEOFFREY NIXON, MISSION PARTNERS, L.P., LIBERTY NOMINEES LIMITED,
HORIZON OFFSHORE, LTD. and M PARTNERS, L.P.
W I T N E S S E T H :
WHEREAS, GEOFFREY NIXON, MISSION PARTNERS, L.P., LIBERTY NOMINEES
LIMITED, HORIZON OFFSHORE, LTD. and M PARTNERS, L.P. collectively
beneficially own more than five (5.0%) percent of the issued and outstanding
common stock, $.01 par value, of UNIVERSAL ELECTRONICS, INC. ("UE Common
Stock"), a Delaware corporation; and
WHEREAS, pursuant to Section 13(d) of the Securities Exchange Act of
1934, as amended, and the rules and regulations promulgated thereunder, the
parties hereto are required to file a Schedule 13D with the Securities and
Exchange Commission ("SEC").
NOW, THEREFORE, the parties agree as follows:
1. GEOFFREY NIXON, MISSION PARTNERS, L.P., LIBERTY NOMINEES LIMITED,
HORIZON OFFSHORE, LTD. and M PARTNERS, L.P. hereby agree to jointly file a
Schedule 13D with the SEC regarding the beneficial ownership of UE Common
Stock and to file any and all amendments and supplements thereto.
2. This Agreement contains the entire agreement among the parties
concerning the subject matter hereof and may not be amended, modified or
changed except pursuant to a written instrument signed by all parties.
<PAGE>
SCHEDULE 13D
CUSIP NO. 913483 10 3 Page 14 of 14
IN WITNESS WHEREOF, the parties have signed this Agreement the day and
year first above written.
/s/ Geoffrey Nixon
--------------------------------------------
GEOFFREY NIXON
MISSION PARTNERS, L.P.
By: MCM Associates, Ltd., General Partner
By: /s/ Geoffrey Nixon
----------------------------------------
Name: Geoffrey Nixon
Title: President
LIBERTY NOMINEES LIMITED
By: MCM Associates, Ltd., Investment Manager
By: /s/ Geoffrey Nixon
----------------------------------------
Name: Geoffrey Nixon
Title: President
HORIZON OFFSHORE, LTD.
By: /s/ Geoffrey Nixon
----------------------------------------
Name: Geoffrey Nixon
Title: Director
M PARTNERS, L.P.
By: MCM Associates, Ltd., Investment Manager
By: /s/ Geoffrey Nixon
----------------------------------------
Name: Geoffrey Nixon
Title: President
