<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
SYBRON CHEMICALS INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE
- --------------------------------------------------------------------------------
(Title of Class of Securities)
870903 10 1
__________________
(CUSIP Number)
DECHERT PRICE & RHOADS
4000 Bell Atlantic Tower
1717 Arch Street
Philadelphia, PA 19103
Attention: G. Daniel O' Donnell, Esquire
(215) 994-2762
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
February 25, 1998
_______________________________
(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
/X/.
Note: Six copies of this Statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
The remainder of this coverage shall be filed 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).
-1-
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 870903 10 1 Page 2 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
399 VENTURE PARTNERS, INC.
I.R.S. ID NO. 13-3413727
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [_]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,025,000
OWNED BY ---------------------------------------------------------
EACH
REPORTING 8 SHARED VOTING POWER
PERSON WITH
None
---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
2,025,000
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
NONE
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,025,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
35.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
-2-
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 870903 10 1 Page 3 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citibank, N.A.
I.R.S. ID NO. 13-5266470
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [_]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(c) [X]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
A National Banking Association
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,025,000
-------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING None
-------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
2,025,000
-------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
399 Venture Partners, Inc., a wholly-owned subsidiary of Citibank, N.A.,
beneficially and directly owns the 2,025,000 shares referred to herein.
Citibank, N.A. is a wholly-owned subsidiary of Citicorp.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
35.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
-3-
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP No. 870903 10 1 Page 4 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
CITICORP
I.R.S ID. NO. 13-2614988
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [_]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [X]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,025,000
----------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING None
----------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
2,025,000
----------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
399 Venture Partners, Inc., a wholly-owned subsidiary of Citibank, N.A.,
beneficially and directly owns the 2,025,000 shares referred to herein.
Citibank, N.A., is a wholly-owned subsidiary of Citicorp.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
35.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
-4-
<PAGE>
SCHEDULE 13D
This Statement on Schedule 13D (the "Statement") is being filed
pursuant to Rule 13d-1 of the Securities Exchange Act of 1934, as amended (the
"Exchange Act").
ITEM 1. SECURITY AND ISSUER.
This Statement relates to shares of the common stock, par value
$.01 per share, (individually, a "Share" and collectively, the "Shares") of
Sybron Chemicals Inc., a Delaware corporation ("Sybron"), with its principal
executive offices at Birmingham Road, Birmingham, New Jersey 08011.
ITEM 2. IDENTITY AND BACKGROUND.
(a) This Statement is being filed jointly pursuant to Rule
13d-1(f)(1) ("Rule 13d-1(f)(1)") promulgated under the Exchange Act by: (1) 399
Venture Partners, Inc., a Delaware corporation ("399 Venture"), formerly known
as Citicorp Investments Inc., (2) Citibank, N.A., a national banking association
("Citibank"); and (3) Citicorp, a Delaware corporation ("Citicorp")
(hereinafter, each such person or entity may be referred to individually as a
"Reporting Person" and collectively as the "Reporting Persons").
(b) The address of the principal business office of each
Reporting Person is as follows:
Reporting Person Address
399 Venture Partners, Inc. 399 Park Avenue
New York, New York 10043
Citibank, N.A. 399 Park Avenue
New York, New York 10043
Citicorp 399 Park Avenue
New York, New York 10043
(c) 399 Venture is a wholly-owned subsidiary of Citibank. 399
Venture is a small business investment company which is primarily engaged in
making equity investments.
Citibank is a wholly-owned subsidiary of Citicorp. Citibank is
principally engaged in the general banking business.
Citicorp is a multi-bank holding company principally engaged,
through its subsidiaries, in the general financial services business.
(d) During the last five years, none of the Reporting Persons,
and to the knowledge of each Reporting Person, none of the executive officers or
directors of 399 Venture, Citibank or Citicorp, have been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) Except as described herein, during the last five years, none
of the Reporting Persons, and to the knowledge of each Reporting Person, none of
the executive officers or directors of such
-5-
<PAGE>
Reporting Person, as applicable, have been a party to an civil proceeding of a
judicial or administrative body of competent jurisdiction as a result of which
such person or entity was or is subject to a judgment, decree or final order in
joining future violation of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with respect to such
laws. In 1992 Citibank consented to orders issued by the Securities and
Exchange Commission (the "SEC") and the Comptroller of the Currency, without
admitting or denying allegations and findings, with respect to findings that
Citibank violated certain securities laws in its role as a transfer agent with
respect to the proper safeguarding and destruction of canceled securities
certificates. The orders, and related facts and circumstances, were described
in Current Reports on Form 8-K, dated July 21, 1992, and January 19, 1993, that
Citicorp previously filed with the SEC.
(f) Citicorp is a Delaware corporation. Citibank is a national
banking association. 399 Venture is a Delaware corporation. Except as
indicated on Annex A, to the knowledge of Citicorp, Citibank and 399 Venture,
each executive officer or director of such Reporting Person is a citizen of the
United States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The Shares were acquired by the Reporting Persons in July, 1987
pursuant to the acquisition by Sybron of the Sybron Chemical Group from Sybron
Corporation. The funds used to purchase the Shares came from the Reporting
Persons' investment capital.
ITEM 4. PURPOSE OF TRANSACTION.
399 Venture currently holds the Shares as an investment. 399
Venture may, subject to applicable securities laws, applicable laws regulating
the percentage of voting securities of Sybron that 399 Venture may own, market
conditions and its assessment of the business prospects of Sybron, acquire
additional Shares of Sybron from time to time through open market purchases or
otherwise, as it determines in its sole discretion. 399 Venture is continuously
evaluating the business and business prospects of Sybron, and its present and
future interests in, and intentions with respect to, Sybron and may at any time
decide to dispose of any or all of the Shares currently owned by 399 Venture.
Other than as discussed above, 399 Venture currently has no plans
to effect:
(a) any extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving Sybron or any of its
subsidiaries;
(b) a sale or transfer of a material amount of the assets of
Sybron or any of its subsidiaries;
(c) any change in the present Board of Directors or management
of Sybron, including any change in the number or term of
directors or the filling of any vacancies of the Board of
Directors;
(d) any material change in the present capitalization or
dividend policy of Sybron;
(e) any other material change in Sybron business or corporate
structure;
-6-
<PAGE>
(f) any change in Sybron's charter, by-laws or instruments
corresponding thereto or any other actions which may impede the
acquisition of control of Sybron by any person;
(g) the delisting of any class of securities of Sybron from a
national securities exchange or the ceasing to be authorized to be
quoted in an interdealer quotation system of a registered national
securities association;
(h) any class of equity securities of Sybron becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the
Securities Exchange Act of 1934; or
(i) any action similar to any of those enumerated above.
399 Venture intends to re-evaluate continuously its investment in
Sybron and may, based on such re-evaluation, determine at a future rate to
change its current position with respect to any action enumerated above.
ITEM 5. INTEREST IN SECURITIES OF THE ISSURER.
(a) 399 Venture is the record and beneficial owner of 2,025,000
Shares or approximately 35.7% of the issued and outstanding Shares.
399 Venture is a wholly owned subsidiary of Citibank, N.A., and
Citibank, N.A. is a wholly owned subsidiary of Citicorp. Citibank, N.A. and
Citicorp own no Shares directly.
(b) 399 Venture has sole ownership of, and voting and dispositive
powers over, 2,025,000 Shares. Citicorp and Citibank, N.A. own no Shares
directly.
(c) None.
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSURER.
To the extent such information was available on the date hereof, to
the knowledge of each Reporting Person on the date hereof, except as set forth
herein or in the Exhibits, if any, filed herewith, no Reporting Person nor any
of its executive officers or directors, as applicable, has any other contracts,
arrangements, understandings or relationships (legal or otherwise) with any
person with respect to securities issued by Sybron, including, but not limited
to, transfer or voting of any such securities, finder's fees, joint ventures,
loan or option arrangements, puts or calls, guarantees of profits, divisions of
profits or loss or the giving or withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit Description Page
Exhibit 1 Amended and Restated Joint Filing 13
-7-
<PAGE>
Agreement, date February 25, 1998
among 399 Venture, Citibank, N.A.,
and Citicorp.
-8-
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of their knowledge and
belief, the undersigned certify that the information set forth in this statement
is true, complete and correct. In executing this statement, the undersigned
agree, to the extent required by Rule 13d-1(f), that this statement is being
filed on behalf of each of the reporting persons herein.
Dated: February 25, 1998 399 VENTURE PARTNERS,INC.
By: /s/ Paul C. Schorr IV
------------------------------------
Name: Paul C. Schorr IV
Title: Vice President
CITIBANK, N.A.
By: /s/ Mary Lynn Putney
------------------------------------
Name: Mary Lynn Putney
Title: Managing Director
CITICORP
By: /s/ Ann M. Goodbody
------------------------------------
Name: Ann M. Goodbody
Title: Vice President
-9-
<PAGE>
ANNEX A SCHEDULE 13D RELATING TO
COMMON SHARES OF SYBRON CHEMICALS INC.
(Parenthetical references are to the county of citizenship of persons who are
not United States citizens)
Citicorp
Directors Executive Officers
Alain J.P. Belde (Brazil) William I. Campbell (Canada)
D. Wayne Calloway Paul J. Collins
Paul J. Collins Edward Horowitz
Kenneth T. Derr Thomas E. Jones (England)
John M. Deutch Charles E. Long
Ruben Mark Dionisio R. Martin (Argentina)
Richard D. Parsons Robert A. McCormack
John S. Reed Victor J. Menezes (India)
William R. Rhodes Lawrence R. Phillips
Roseanne L. Ridgeway John S. Reed
H. Onno Ruding (Netherlands) William R. Rhodes
Robert B. Shapiro John J. Roone
Frank A. Shrontz H. Onno Ruding (Netherlands)
Franklin A. Thomas Mary Alice Taylor
Edgar S. Woolard, Jr.
Citibank
Directors Executive Officer
D. Wayne Calloway Paul J. Collins
Paul J. Collins Edward Horowitz
-10-
<PAGE>
John M. Deutch Edward Horowitz
Ruben Mark Thomas E. Jones (England)
Richard D. Parsons Charles E. Long
John S. Reed Dionisio R. Martin (Argentina)
William R. Rhodes Robert A. McCormack
Roseanne L. Ridgeway Victor J. Menezes (India)
Robert B. Shapiro Lawrence R. Phillips
Frank A. Shrontz John S. Reed
Franklin A. Thomas William R. Rhodes
John J. Roone
H. Onno Ruding (Netherlands)
Mary Alice Taylor
399 Venture Partners, Inc.
Directors Executive Officers
William T. Comfort, Jr. William T. Comfort
Ann M. Goodbody David F. Thomas
Thomas E. Jones Bryon L. Knief
Frederick A. Roesch Richard M. Cashin
Charles E. Corpening
Michael A. Delaney
Noelle M. Doumar
David Y. Howe
Richard E. Mayberry
Thomas F. McWilliams
M. Saleem Muqaddam
Paul C. Schorr
-11-
<PAGE>
Joseph M. Silvestri
James A. Urry
John D. Weber
Lauren M. Connelly
Helene B. Shavin
Thomas H. Sanders
-12-
<PAGE>
EXHIBIT 1
Exhibit 1
Amended and Restated Filing Agreement dated February 25, 1998
Re: Joint Filing of Schedule 13D
The undersigned hereby agree that:
(i) each of them is individually eligible to use the Schedule 13D
attached hereto;
(ii) the attached Schedule 13D is filed on behalf of each of them;
(iii) each of them is responsible for the timely filing of such
Schedule 13D and any amendments thereto, and for the
completeness and accuracy of the information therein concerning
himself or itself; but none of them is responsible for the
completeness and accuracy of the information concerning the
other persons making the filing, unless he or it knows or has
reason to believe that such information is inaccurate.
399 VENTURE PARTNERS, INC.
By: /s/ Paul C. Schorr IV
---------------------------
Name: Paul C. Schorr IV
Title: Vice President
CITIBANK, N.A.
By: /s/ Mary Lynn Putney
---------------------------
Name: Mary Lynn Putney
Title: Managing Director
CITICORP
By: /s/ Ann M. Goodbody
---------------------------
Name: Ann M. Goodbody
Title: Vice President
