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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13D-1 AND 13D-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
FIRST AVIATION SERVICES INC.
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(NAME OF ISSUER)
COMMON STOCK, 31865W108
PAR VALUE $0.01 PER SHARE
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(TITLE OF CLASS OF SECURITIES) (CUSIP NUMBER)
*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 8 Pages
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<PAGE>
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CUSIP No. 31865W108 13G Page 2 of 8
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1 NAME OF REPORTING PERSONS: FIRST EQUITY GROUP, INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:*
(A) [X]
(B) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION: UNITED STATES OF AMERICA
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NUMBER OF 5 SOLE VOTING POWER:
SHARES
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BENEFICIALLY 6 SHARED VOTING POWER: 3,734,759
OWNED BY
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EACH 7 SOLE DISPOSITIVE POWER:
REPORTING
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PERSON WITH 8 SHARED DISPOSITIVE POWER: 3,734,759
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH 3,734,759
REPORTING PERSON:
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES:*
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 41.8%
** SEE ITEM 4
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12 TYPE OF REPORTING PERSON: CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 31865W108 13G Page 3 of 8
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1 NAME OF REPORTING PERSONS: FAS INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:*
(A) [X]
(B) [ ]
- ---------------- ---------------------------------------------------------------
3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION: UNITED STATES OF AMERICA
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NUMBER OF 5 SOLE VOTING POWER:
SHARES
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BENEFICIALLY 6 SHARED VOTING POWER: 3,721,665
OWNED BY
----- --------------------------------------- -----------
EACH 7 SOLE DISPOSITIVE POWER:
REPORTING
----- --------------------------------------- -----------
PERSON WITH 8 SHARED DISPOSITIVE POWER: 3,721,665
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH 3,721,665
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): 41.7%
** SEE ITEM 4
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12 TYPE OF REPORTING PERSON: CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 31865W108 13G Page 4 of 8
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1 NAME OF REPORTING PERSONS: MICHAEL C. CULVER
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:*
(A) [X]
(B) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION: UNITED STATES OF AMERICA
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NUMBER OF 5 SOLE VOTING POWER: 200
SHARES
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BENEFICIALLY 6 SHARED VOTING POWER: 3,734,759
OWNED BY
----- ----------------------------------------- ---------
EACH 7 SOLE DISPOSITIVE POWER: 200
REPORTING
----- ----------------------------------------- ---------
PERSON WITH 8 SHARED DISPOSITIVE POWER: 3,734,759
- ---------------- ----------------------------------------------------- ---------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH 3,734,959
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): 41.8%
** SEE ITEM 4
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12 TYPE OF REPORTING PERSON: IN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 31865W108 13G Page 5 of 8
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1 NAME OF REPORTING PERSONS: AARON P. HOLLANDER
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:*
(A) [X]
(B) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION: UNITED STATES OF AMERICA
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NUMBER OF 5 SOLE VOTING POWER:
SHARES
----- ----------------------------------------- ---------
BENEFICIALLY 6 SHARED VOTING POWER: 3,734,759
OWNED BY
----- ----------------------------------------- ---------
EACH 7 SOLE DISPOSITIVE POWER:
REPORTING
----- ----------------------------------------- ---------
PERSON WITH 8 SHARED DISPOSITIVE POWER: 3,734,759
- ---------------- ----------------------------------------------------- ---------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH 3,734,759
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): 41.8%
** SEE ITEM 4
- ---------------- ---------------------------------------------------------------
12 TYPE OF REPORTING PERSON: IN
- ---------------- ---------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
ITEM 1. IDENTITY OF ISSUER
(a) The name of the issuer is First Aviation Services Inc. (the
"Issuer").
(b) The address of the Issuer's principal executive office is 15
Riverside Avenue, Westport Connecticut 06880.
ITEM 2. IDENTITY OF PERSON FILING
(a) - (c) This report is being filed by the following persons
and entities:
First Equity Group, Inc. with a business address of 15
Riverside Avenue, Westport, Connecticut 06880 ("FEG"). FEG
is a Connecticut Corporation.
FAS Inc. with a business address of 15 Riverside Avenue,
Westport, Connecticut 06880 ("FAS"). FAS is a Delaware
Corporation.
Michael C. Culver with a business address of 15 Riverside
Avenue, Westport, Connecticut 06880 ("Mr. Culver"). Mr.
Culver is a citizen of Canada.
Mr. Aaron P. Hollander with a business address of 15
Riverside Avenue, Westport, Connecticut 06880 ("Mr.
Hollander", and together with FEG, Mr. Culver and FAS, the
"Reporting Persons"). Mr. Hollander is a citizen of the
United States of America.
(d) - (e) This report covers the Issuer's Common Stock, par
value $0.01 per share (the "Common Stock"). The CUSIP number
of the Common Stock is 31865W108.
ITEM 3.
Not Applicable.
ITEM 4. OWNERSHIP
(a) - (c) As of December 31, 1997, FEG and Messrs Culver and
Hollander beneficially owned and shared voting and
dispositive power with respect to 3,734,759 shares of Common
Stock as follows: (i) 13,094 shares of Common Stock held
directly by FEG and indirectly by each of Messrs. Culver and
Hollander (see ownership structure below); and (ii)
3,721,665 shares of Common Stock (the "FAvS Shares") held
indirectly by each of FEG and Messrs. Culver and Hollander
(see ownership structure below). As of December 31, 1997,
FAS had direct beneficial ownership of and shared voting and
dispositive power with respect to the FAvS Shares.
As of December 31, 1997, Mr. Culver also beneficially owned
and had sole voting and dispositive power with resepct to
200 shares of Common Stock held by Mr. Culver as custodian
for his children. Mr. Culver disclaims beneficial ownership
with respect to these shares.
The common stock of FAS is owned in its entirety by
Holladay-Tyler Printing Inc., a Delaware corporation.
Holladay-Tyler Printing Inc. is a wholly-owned subsidiary of
First Printing Inc., a Delaware corporation. First Printing
Inc. is a wholly owned
Page 6 of 8 Pages
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subsidiary of FEG. FEG is owned jointly by Messrs. Culver
and Hollander. In addition, First Equity Development Inc., a
Connecticut corporation, owns 2,500 shares of preferred
stock of FAS. FEG owns ninety-percent of the common stock of
First Equity Development Inc.
(b) The 3,734,759 shares of Common Stock beneficially owned by
FEG and Mr. Hollander constitute 41.8% of the number of
shares of Common Stock outstanding.
The 3,734,959 shares of Common Stock beneficially owned by
Mr. Culver constitute 41.8% of the number of shares of
Common Stock outstanding.
The 3,721,665 shares of Common Stock beneficially owned by
FAS constitute 41.7% of the number of shares of Common Stock
outstanding.
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
See Item 4.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
See Item 4.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
See Item 4.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not Applicable.
ITEM 10. CERTIFICATION
Not Applicable.
Page 7 of 8 Pages
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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.
First Equity Group, Inc
Date: February 12, 1998 By: /s/ Aaron P. Hollander
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Name: Aaron P. Hollander
Title: Vice President
FAS Inc.
Date: February 12, 1998 By: /s/ John A. Marsalisi
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Name: John A. Marsalisi
Title: Vice President
Date: February 12, 1998 /s/ Michael C. Culver
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Michael C. Culver
Date: February 12, 1998 /s/ Aaron P. Hollander
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Aaron P. Hollander
Page 8 of 8 Pages
