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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
GLOBAL VACATION GROUP, INC.
(Name of Issuer)
Common Stock, $0.01 par value per share
(Title of Class of Securities)
37937F 10 6
(CUSIP Number)
Daniel A. Raskas, Esq.
Thayer Capital Partners
1455 Pennsylvania Avenue, N.W., Suite 350
Washington, D.C. 20004
(202) 371-0150
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
June 20, 2000
(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 that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [ ].
Note. Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See Rule 13d-7
for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 5 Pages)
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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
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).
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CUSIP No. 37937F 10 6 13D Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Thayer Equity Investors III, L.P.
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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 SOURCE OF FUNDS*
OO
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5 CHECK BOX 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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7 SOLE VOTING POWER
9,457,249
NUMBER OF ------------------------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH ------------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 9,457,249
------------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,457,249
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
64.1%
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14 TYPE OF REPORTING PERSON*
PN
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</TABLE>
*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.
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CUSIP No. 37937F 10 6 13D Page 3 of 5 Pages
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<S> <C>
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
TC Equity Partners, L.L.C.
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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 SOURCE OF FUNDS*
OO
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5 CHECK BOX 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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7 SOLE VOTING POWER
9,457,249
NUMBER OF ------------------------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH ------------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 9,457,249
------------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,457,249
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
----------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
64.1%
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14 TYPE OF REPORTING PERSON*
PN
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</TABLE>
*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.
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CUSIP No. 37937F 10 6 13D Page 4 of 5 Pages
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This Amendment No. 1 amends the Schedule 13D filed on August 14, 1998 by
Thayer Equity Investors III, L.P., a Delaware limited partnership ("Thayer"),
and TC Equity Partners, L.L.C., a Delaware limited liability company ("TC
Equity"), relating to shares of Common Stock, $.01 par value per share ("Common
Stock"), of Global Vacation Group, Inc., a New York corporation (the "Issuer").
Capitalized terms used herein without definition have the meaning set forth in
the prior Schedule 13D statement.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Pursuant to a Note Purchase Agreement (the "Purchase Agreement"), dated
as of June 20, 2000, by and between the Issuer and GV Investment LLC, a Delaware
limited liability company ("GVI"), the Issuer has issued and sold $27,500,000 of
its 9% Convertible Subordinated Notes (the "Convertible Notes") to GVI, which
Convertible Notes are convertible into shares of Common Stock.
In connection with the Purchase Agreement, Thayer and GVI entered into a
Shareholders Agreement, dated as of June 20, 2000 (the "Shareholders
Agreement"), which is attached hereto as Exhibit 7. Pursuant to the Shareholders
Agreement: (a) certain transfer restrictions were imposed on the Common Stock
and other equity securities, including securities convertible into or
exercisable or exchangeable for equity securities, of the Issuer (collectively,
"Equity Securities") owned by the parties to such agreement; (b) each of Thayer
and GVI agreed to vote all of their respective Equity Securities to cause the
Issuer's Board of Directors to be comprised of eight (8) directors, initially
with six (6) nominated by Thayer and two (2) nominated by GVI (such number to
decrease if GVI's holdings in the Issuer decrease); (b) Thayer agreed to vote
all of its Equity Securities in favor of a shareholder proposal to approve the
issuance to GVI of the shares of Common Stock issuable upon conversion of the
Convertible Notes and to take all other actions within its control to ensure
that a shareholder meeting to consider this proposal is held by June 20, 2001;
and (c) both parties agreed that (i) if either party requests a change in the
Issuer's Chief Executive Officer or Chief Financial Officer, then the other
party shall do all things in its power to effect that change and (ii) both
parties shall support only replacement candidates for these offices as are
mutually agreed upon.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
Exhibit 7 Shareholders Agreement, dated as of June 20, 2000, by and
between Thayer Equity Investors III, L.P. and GV Investment
LLC.
* * * * *
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CUSIP No. 37937F 10 6 13D Page 5 of 5 Pages
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SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief of
each of the undersigned, each of the undersigned certifies that the information
set forth in this statement is true, complete and correct.
Dated: June 23, 2000
THAYER EQUITY INVESTORS III, L.P.
By: TC Equity Partners, L.L.C.,
its General Partner
By: /s/ Daniel Raskas
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Name: Daniel Raskas
---------------------------------
Title: Vice President
--------------------------------
TC EQUITY PARTNERS, L.L.C.
By: /s/ Daniel Raskas
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Name: Daniel Raskas
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Title: Vice President
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