<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ___)(1)
White Cap Industries, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
963505 10 2
- --------------------------------------------------------------------------------
(CUSIP Number)
(1) 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 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 ("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 1 of 8
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CUSIP No. 963505 10 2 13G Page 2 of 8 Pages
================================================================================
1 NAME OF REPORTING PERSON
KRG CAPITAL PARTNERS, LLC
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 84-1377547
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Colorado
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 1,629,074
---------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY None
---------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING None
---------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,629,074
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
16.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
================================================================================
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
CUSIP No. 963505 10 2 13G Page 3 of 8 Pages
================================================================================
1 NAME OF REPORTING PERSON
MEMBERS OF KRG CAPITAL INVESTMENTS II, LLC
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES None
----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY None
----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 1,629,074
----------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,629,074
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
16.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
================================================================================
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
SCHEDULE 13G
ITEM 1(a). NAME OF ISSUER:
White Cap Industries, Inc.
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
3120 Airway Avenue
Costa Mesa, California 92626
ITEM 2(a). NAME OF PERSON FILING:
This Schedule 13G is being jointly filed by each of the
following persons pursuant to Rule 13d-(1)(f) promulgated by the
Securities and Exchange Commission pursuant to Section 13 of the
Securities Exchange Act of 1934, as amended (the "Act"): (i) KRG
Capital Partners, LLC ("KRG Capital"), a Colorado limited
liability company, by virtue of its voting control of 1,629,074
shares of common stock, par value $.01 per share (the "Common
Stock"), of White Cap Industries, Inc. (the "Company"); (ii) the
members (the "Members") of KRG Capital Investments II, LLC ("KRG
II"), a Colorado limited liability company, by virtue of their
beneficial ownership of 1,629,074 shares of Common Stock. KRG
Capital and the Members are hereinafter collectively referred to
as the "Reporting Persons." The Reporting Persons have entered
into a Joint Filing Agreement, dated February __, 1998, a copy of
which is filed with this Schedule 13G as Exhibit A, pursuant to
which the Reporting Persons have agreed to file this statement
jointly in accordance with the provisions of Rule 13d-1(f)(1)
under the Act.
The Reporting Persons may be deemed to constitute a
"group" for purposes of Section 13(d)(3) of the Act. The
Reporting Persons expressly disclaim that they have agreed to act
as a group other than as described in this Schedule 13G.
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
The address of the principal business office of each of
the Reporting Persons is c/o KRG Capital Partners, LLC, 370
Seventeenth Street, Suite 2300, Denver, Colorado 80208.
ITEM 2(c). CITIZENSHIP:
KRG Capital is a limited liability company organized under
the laws of the State of Colorado; the Members are citizens of
the United States and trusts established under the laws of
various states.
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, par value $.01 per share.
ITEM 2(e). CUSIP NO.:
963505 10 2
Page 4 of 8
<PAGE> 5
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b) OR
13d-2(b), CHECK WHETHER THE PERSON FILING IS A:
Not Applicable.
ITEM 4. OWNERSHIP:
(a)-(c). Each Reporting Person named in response to Item 2 hereof
has sole power to vote or to direct the vote and sole power to
dispose or to direct the disposition of the Common Stock as
follows:
KRG Capital. Pursuant to an agreement with the Members,
KRG Capital has the sole right to vote the 1,629,074 shares of
Common Stock held by the Members, which constitutes 16.4% of the
outstanding Common Stock. The filing of this Schedule 13G by KRG
Capital shall not be considered an admission that KRG Capital is,
for the purpose of Section 13(g) of the Act, the beneficial owner
of such shares held by the Members.
Members of KRG II. Each of the Members has the sole right
to dispose or direct the disposition of the number of shares set
forth opposite such Member's name on Schedule A hereto. Each of
the Members disclaims beneficial ownership of all the shares of
Common Stock held by other Members, other than immediate family
members or family trusts.
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 Response to Item 4.
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 5 of 8
<PAGE> 6
SIGNATURE
After reasonable inquiry and to the best of our knowledge and
belief, the undersigned certify that the information set forth in this statement
is true, complete and correct.
Date: MARCH 3, 1998
KRG CAPITAL PARTNERS, LLC
(FOR ITSELF AND FOR THE MEMBERS
PURSUANT TO POWER OF ATTORNEY)
By: \s\ Bruce Rogers
------------------------------------
Bruce Rogers
Managing Director
Page 6 of 8
<PAGE> 7
EXHIBIT A
---------
AGREEMENT REGARDING THE JOINT FILING OF
SCHEDULE 13G
---------------------
The undersigned hereby agree as follows:
(i) Each of them is individually eligible to use the Schedule 13G
to which this Exhibit is attached, and such Schedule 13G is filed on behalf of
each of them; and
(ii) Each of them is responsible for the timely filing of such
Schedule 13G and any amendments thereto, and for the completeness and accuracy
of the information concerning such person contained therein; but none of them is
responsible for the completeness or accuracy of the information concerning the
other persons making the filing, unless such person knows or has reason to
believe that such information is inaccurate.
Date: MARCH 3, 1998
KRG CAPITAL PARTNERS, LLC
(FOR ITSELF AND FOR THE MEMBERS
PURSUANT TO POWER OF ATTORNEY)
By: \s\ Bruce Rogers
------------------------------------
Bruce Rogers
Managing Director
Page 7 of 8
<PAGE> 8
SCHEDULE A
<TABLE>
<CAPTION>
SH TAX ID NUMBER NAME BALANCE HELD
<C> <S> <C>
###-##-#### Steven M. Bathgate 4,311
###-##-#### Carylyn K. Bell 10,285
###-##-#### D. Randall Blank 9,455
###-##-####/###-##-#### John J. Borer, III and Cynthia A. Van Osch 7,439
###-##-#### Roger T. Felthoven 4,311
###-##-#### Harry E. Gwirtsman 237
###-##-#### Helen Gwirtsman 4,089
###-##-#### Joseph J. Gwirtsman 5,303
###-##-#### Stephen H. Hamrick 7,199
###-##-#### Brenda K. King 71,346
###-##-#### Mark M. King 217,517
81-0476122 KKA Enterprises, Inc. 17,617
23-2629222 Mathers Associates 80,374
###-##-#### Mark S. Maymar and Nancy L. Maymar 8,585
###-##-#### MBK Children's Trust 24,360
###-##-#### Sheryl B. Osten 3,594
###-##-#### Julian F. Reichman 3,815
###-##-####/###-##-#### Bruce L. Rogers and Sally K. Rogers, Ten in Common 225,303
23-2754626 Skippack Partners 8,086
84-6291627 AM Trust 122,496
###-##-#### Andrew J. Gwirtsman 13,230
###-##-#### Ann M. Fox 1,740
###-##-#### Arthur R. Miller 12,211
84-6319096 Barry Bank Irrevocable Trust 2,610
###-##-#### Brenda A. Rogers 1,740
###-##-#### Bruce L. Rogers, Custodian for Madison Ann Rogers 174
84-1363522 Capital Resources Growth, Inc. 208,800
###-##-#### Carole A. Haase 1,740
###-##-#### Carylyn K. Bell, Custodian For Caitlyn Bell 174
###-##-####/###-##-#### Charles R. Gwirtsman and Nancy J. Reichman 93,707
36-3393607 CRL, Inc. 122,496
###-##-#### Daniel L. Gwirtsman 13,230
###-##-#### Darren J. Dines 4,524
###-##-#### Darren R. Hensley 497
###-##-#### Diane M. Rodwell 1,740
###-##-#### Harry E. Gwirtsman, custodian for Benjamin 1,653
Elliott Gwirtsman, UTMA, age 21
###-##-#### Harry E. Gwirtsman, custodian for Gabriel Thomas 1,653
Gwirtsman, UTMA, age 21
###-##-#### Harry E. Gwirtsman, custodian for Mia Erin 1,653
Gwirtsman, UTMA, age 21
###-##-#### Jacob Bank 2,806
###-##-#### John E. Hayes, III 1,952
###-##-#### Jonathan P. Johnson 12,211
###-##-#### Kevin A. Cudney 4,899
###-##-#### Kimie L. and Bradley James Kreidle, Custodians 174
for Katherine Gail Kreidle
</TABLE>
8
<PAGE> 9
<TABLE>
<CAPTION>
SH TAX ID NUMBER NAME BALANCE HELD
<C> <S> <C>
47-6023978 Kutak Rock 401(k) Profit Sharing Plan - M. Lou 12,211
Raders Division 32-329-932
###-##-#### Lance Balk 9,761
###-##-#### Lee W. Dines 72,968
###-##-#### Lee W. Dines, Jr. 4,524
###-##-#### Lewis P. Rogers 1,740
###-##-#### Martha Louise Hagerty 3,636
###-##-####/###-##-#### Michael K. Haines and Judith A. Haines 13,081
###-##-#### Nancy J. Reichman 45,901
###-##-#### Peter M. Dines 4,524
###-##-#### Philip E. Johnson 12,211
###-##-#### Piper Jaffray as Custodian FBO Jonathan P. 12,211
Johnson IRA
###-##-####/###-##-#### Robert C. Lewis and Carylyn B. Lewis, Ten in Common 1,740
###-##-#### Rogers Family Trust 26,100
84-6318743 Rosalind Bank Irrevocable Trust 2,610
###-##-#### Sally K. Rogers 3,480
###-##-#### Sally K. Rogers Trust 43,500
84-6287974 Sara Elizabeth Cudney Trust 435
23-2620168 Skippack Capital Corp. 649
84-6287975 Terence William Cudeny Trust 435
84-1435328 The College Fund, LLC 2,449
84-6284474 Trust fbo Drew P. Dines under Art 1.8 of Carla* 4,524
84-6284475 Trust fbo Jeffrey F. Dines under Art 1.8 of Carla* 4,524
84-6284479 Trust fbo Kevn C. Dines under Art 1.9 of Carla* 4,524
=========
TOTAL 1,629,074
</TABLE>
*W. Lewis 87 Trust U/A dtd 6/19/87, Lee W. Dines, Trustee
9
