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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULES 13D-1(B), (C) AND (D) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2(B)
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(AMENDMENT NO. 2)*
FIREARMS TRAINING SYSTEMS, INC.
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(NAME OF ISSUER)
CLASS A COMMON STOCK,
PAR VALUE $.000006 PER SHARE 318120-10-2
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(TITLE OF CLASS OF SECURITIES) (CUSIP NUMBER)
AUGUST 25, 2000
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(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)
CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE
IS FILED:
[ ] RULE 13D-1(B)
[ ] RULE 13D-1(C)
[X] RULE 13D-1(D)
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*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 the
disclosures provided in a prior cover page.
The information required in 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 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).
Continued on Following Pages
Page 1 of 12 Pages
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NY2:\962374\03\34460.0044
<PAGE>
<TABLE>
<CAPTION>
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<S> <C> <C> <C>
CUSIP No. 318120-10-2 13G Page 2 of 11
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------------------------- ---------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS: CENTRE PARTNERS II LLC
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY): 13-386-6629
------------------------- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:*
(A) [_]
(B) [_]
------------------------- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------- ---------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
------------------------------- ----- ---------------------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
----- ---------------------------------------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 31,853,625
OWNED BY
----- ---------------------------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
----- ---------------------------------------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER: 31,853,625
------------------------- ---------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 31,853,625
PERSON:
------------------------- ---------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES:*
[_]
------------------------- ---------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 42.4%
------------------------- ---------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: OO
------------------------- ---------------------------------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 11 Pages
<PAGE>
------------------------------- ------------------------------------- --------------------------------------------------
CUSIP No. 318120-10-2 13G Page 3 of 11
------------------------------- ------------------------------------- --------------------------------------------------
------------------------- ---------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS: CENTRE CAPITAL INVESTORS II, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY): 13-386-6796
------------------------- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:*
(A) [_]
(B) [_]
------------------------- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------- ---------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
------------------------------- ----- ---------------------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
----- ---------------------------------------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 21,468,963
OWNED BY
----- ---------------------------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
----- ---------------------------------------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER: 21,468,963
------------------------- ---------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH 21,468,963
REPORTING PERSON:
------------------------- ---------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES:*
[_]
------------------------- ---------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 29.2%
------------------------- ---------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: PN
------------------------- ---------------------------------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 11 Pages
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CUSIP No. 318120-10-2 13G Page 4 of 11
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------------------------- ---------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS: CENTRE CAPITAL TAX-EXEMPT INVESTORS II, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY): 13-387-6593
------------------------- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:*
(A) [_]
(B) [_]
------------------------- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------- ---------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
------------------------------- ----- ---------------------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
----- ---------------------------------------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 2,399,949
OWNED BY
----- ---------------------------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
----- ---------------------------------------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER: 2,399,949
------------------------- ---------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 2,399,949
PERSON:
------------------------- ---------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES:*
[_]
------------------------- ---------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 3.4%
------------------------- ---------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: PN
------------------------- ---------------------------------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 11 Pages
<PAGE>
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CUSIP No. 318120-10-2 13G Page 5 of 11
--------------------------------------------------------------------- --------------------------------------------------
------------------------- ---------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS: CENTRE PARTNERS COINVESTMENT, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY): 13-386-6622
------------------------- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:*
(A) [_]
(B) [_]
------------------------- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------- ---------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
------------------------------- ----- ---------------------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
----- ---------------------------------------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 3,102,072
OWNED BY
----- ---------------------------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
----- ---------------------------------------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER: 3,102,072
------------------------- ---------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH 3,102,072
REPORTING PERSON:
------------------------- ---------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES:*
[_]
------------------------- ---------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 4.4%
------------------------- ---------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: PN
------------------------- ---------------------------------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 11 Pages
<PAGE>
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CUSIP No. 318120-10-2 13G Page 6 of 11
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------------------------- ---------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS: CENTRE CAPITAL OFFSHORE INVESTORS II, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY): 13-388-2505
------------------------- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:*
(A) [_]
(B) [_]
------------------------- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------- ---------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION: BERMUDA
------------------------------- ----- ---------------------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
----- ---------------------------------------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 4,254,329
OWNED BY
----- ---------------------------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
----- ---------------------------------------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER: 4,254,329
------------------------- ---------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 4,254,329
PERSON:
------------------------- ---------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES:*
[_]
------------------------- ---------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 6.0%
------------------------- ---------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: PN
------------------------- ---------------------------------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 11 Pages
<PAGE>
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CUSIP No. 318120-10-2 13G Page 7 of 11
--------------------------------------------------------------------- ---------------------------------------------------
------------------------- ---------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS: CENTRE PARTNERS MANAGEMENT LLC
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY):
------------------------- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:*
(A) [_]
(B) [_]
------------------------- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------- ---------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
------------------------------- ----- ---------------------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
----- ---------------------------------------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 28,229,941
OWNED BY
----- ---------------------------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
----- ---------------------------------------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER: 28,229,941
------------------------- ---------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH 28,229,941
REPORTING PERSON:
------------------------- ---------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES:*
[_]
------------------------- ---------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 37.8%
------------------------- ---------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: OO
------------------------- ---------------------------------------------------------------------------------------------------------
</TABLE>
* SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 11 Pages
<PAGE>
ITEM 1. IDENTITY OF ISSUER:
(a) Name of Issuer: Firearms Training Systems, Inc. (the "Issuer").
------
(b) Address of Issuer's Principal Executive Offices: 7340 McGinnis
Ferry Road, Suwanee, Georgia 30174.
ITEM 2. IDENTITY OF PERSON FILING:
(a) Name of Person Filing: The persons filing this Statement (the
"Reporting Persons") are Centre Partners II LLC ("CPII LLC"), Centre Capital
Investors II, L.P. ("CCI II"), Centre Capital Tax-exempt Investors II, L.P.
("CCTI II"), Centre Capital Offshore Investors II, L.P. ("CCOI II"), Centre
Partners Coinvestment, L.P. ("CPC") and Centre Partners Management LLC ("CPM").
CCI II, CCTI II, CCOI II and CPC are sometimes collectively referred to herein
as the "Centre Holders."
(b) Address of Principal Business Office: The principal business office
of each Reporting Person other than CCOI II is 30 Rockefeller Plaza, Suite 5050,
New York, New York 10020. The principal business office of CCOI II is c/o Reid
Management Limited, Cedar House, 41 Cedar House, Hamilton, Bermuda HM12.
(c) Citizenship: See Item 4 of the cover pages hereto.
(d) Title of Class of Securities: Class A Common Stock, par value
$.000006 per share ("Common Stock").
------------
(e) CUSIP Number: 318120-10-2.
ITEM 3. FOR STATEMENTS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B) OR (C):
Not Applicable.
ITEM 4. OWNERSHIP:
(a) Amount Beneficially Owned: See Item 9 of the cover pages attached
hereto and the information set forth below.
(b) Percent of Class: See Item 11 of the cover pages attached hereto
and the information set forth below. Such figure is based on 69,912,220 shares
of Common Stock outstanding as of October 17, 2000.
(c) Number of Shares As To Which The Reporting Person Has:
(i) Sole power to vote or direct the vote: See Item 5 of the
cover pages attached hereto and the information set forth below.
Page 8 of 11 Pages
<PAGE>
(ii) Shared power to vote or direct the vote: See Item 6 of
the cover pages attached hereto and the information set forth below.
(iii) Sole power to dispose or to direct the disposition of:
See Item 7 of the cover pages attached hereto and the information set forth
below.
(iv) Shared power to dispose or to direct the disposition of:
See Item 8 of the cover pages attached hereto and the information set forth
below.
CPII LLC is the general partner of CPC and the general partner
of the general partner of CCI II, CCTI II, and CCOI II. The Centre Holders are
the holders of record of the securities of the Issuer respectively set forth
opposite their names as follows:
<TABLE>
<CAPTION>
---------------------------------------------------------- ---------------------- --------------------------
Name of Shares of Common Warrants to Purchase
Record Holder Stock Common Stock
---------------------------------------------------------- ---------------------- --------------------------
<S> <C> <C>
Centre Partners Coinvestment, L.P. 2,596,434 505,638
---------------------------------------------------------- ---------------------- --------------------------
Centre Capital Investors II, L.P. 17,893,730 3,575,233
---------------------------------------------------------- ---------------------- --------------------------
Centre Capital Tax-exempt Investors II, L.P. 2,000,300 399,649
---------------------------------------------------------- ---------------------- --------------------------
Centre Capital Offshore Investors II, L.P. 3,545,816 708,513
---------------------------------------------------------- ---------------------- --------------------------
</TABLE>
In accordance with Rule 13d-3 under the Securities Exchange
Act of 1934, as amended, the number of shares of Common Stock reported herein as
beneficially owned by each Reporting Person includes all shares of Common Stock
that such Reporting Person may acquire upon its exercise of all warrants held by
it to purchase Common Stock.
In addition, pursuant to certain co-investment arrangements,
CPII LLC has been delegated voting and dispositive power with respect to an
additional 571,181 shares of Common Stock and 57,131 warrants to purchase Common
Stock. Thus, CPII LLC may be deemed to beneficially own and have voting and
dispositive power over a total of 31,853,625 shares of Common Stock.
Pursuant to a Management Agreement, CPM has been delegated
voting and dispositive power with respect to shares of Common Stock owned by CCI
II, CCOI II and CCTI II. In addition, CPM has voting and dispositive power with
respect to 106,700 options to purchase Common Stock. Thus, CPM has been
delegated voting and dispositive power with respect to a total of 28,229,941
shares of Common Stock.
An aggregate of 7,100,391 shares of the Common Stock
beneficially owned by the Reporting Persons (the Credit Agreement Shares") were
acquired by the Centre Holders as a result of their purchase of an interest of
one of the lenders under the Issuer's senior secured credit facility in
connection with the restructuring that occurred on August 25, 2000. Such
restructuring is described in greater detail in the Issuer's Annual Report on
10-K for the year ended March 31, 2000 and the Issuer's Quarterly Report on Form
10-Q for the fiscal quarter ended June 30, 2000. The Credit Agreement Shares are
held subject to a Voting and Stock Restriction Agreement (the "Voting
Page 9 of 11 Pages
<PAGE>
Agreement") pursuant to which, among other things, the lenders under such credit
facility (including the Centre Holders) agreed, during the term of the Voting
Agreement, to vote all shares (including the Credit Agreement Shares) acquired
by them pursuant to the restructuring of such credit facility as determined by
the lenders holding a majority of the commitments to provide revolving credit
advances under such credit facility (the "Required Lenders") and granted a proxy
to Bank of America, N.A., as agent, to vote such shares as so directed. The
Voting Agreement also provides for certain restrictions on the transfer of the
shares subject thereto (including the Credit Agreement Shares). In addition,
pursuant to a letter agreement entered into in connection with such
restructuring, (i) the Centre Holders agreed that, at the request of Required
Lenders before September 30, 2000, three of the four directors of the Issuer
affiliated with the Centre Holders will resign on September 30, 2000, (ii) the
lenders agreed that as long as the Voting Agreement or any successor agreement
is in effect, the Required Lenders will cause the lenders to vote their shares
subject to the Voting Agreement or its successor for the election to the
Issuer's board of directors (the "Board") of a qualified person affiliated with
the Centre Holders nominated by the Centre Holders such that one such person is
serving on the Board during such time, and (iii) the lenders and the Centre
Holders agreed to cooperate in good faith to identify and urge the selection of
mutually acceptable, qualified candidates to constitute a majority of the Board
during the interim before the next election of directors and to cooperate in
good faith to identify and urge the selection of a mutually acceptable,
qualified candidate to serve as an active Chairman of the Board. The Reporting
Persons hereby disclaim beneficial ownership of any securities owned by any of
the other lenders.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
Not applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Not applicable.
ITEM 10. CERTIFICATION:
Not applicable.
Page 10 of 11 Pages
<PAGE>
SIGNATURES
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: November 17, 2000
CENTRE PARTNERS II LLC
By: /s/ Jonathan Kagan
--------------------------------------------
CENTRE CAPITAL INVESTORS II, L.P.
CENTRE CAPITAL TAX-EXEMPT INVESTORS II, L.P.
CENTRE CAPITAL OFFSHORE INVESTORS II, L.P.
By: Centre Partners II, L.P., as its General Partner
By: Centre Partners Management LLC,
as Attorney-in-fact
By: /s/ Jonathan Kagan
------------------------------------------
CENTRE PARTNERS COINVESTMENT, L.P.
By: Centre Partners II LLC, as its General Partner
By: /s/ Jonathan Kagan
------------------------------------------
CENTRE PARTNERS MANAGEMENT LLC
By: /s/ Jonathan Kagan
--------------------------------------------
Page 11 of 11 Pages
