<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)(1/)
CMI CORPORATION
- --------------------------------------------------------------------------------
(Name of Issuer)
VOTING CLASS A COMMON STOCK, PAR VALUE $0.10 PER SHARE
- --------------------------------------------------------------------------------
(Title of Class of Securities)
125761205
------------------------------------------------
(CUSIP Number)
PHILIP H. WERNER, ESQ. MORGAN, LEWIS & BOCKIUS LLP
101 PARK AVENUE, NEW YORK, NEW YORK 10178
(212) 309-6000
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
JANUARY 6, 1997
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement on Schedule 13D)
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 / /.
Check the following box if a fee is being paid with the statement / /. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
NOTE: Six copies of this statement on Schedule 13D, including all exhibits,
should be filed with the Securities and Exchange Commission. See Rule 13d-1(a)
for other parties to whom copies are to be sent.
SCHEDULE 13D
CUSIP NO. 125761205
- -------------------
- --------
(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 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 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> 2
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RECOVERY EQUITY INVESTORS, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or (e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 7,116,667 SHARES OF VOTING CLASS A COMMON STOCK
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 2,730,948 SHARES OF VOTING CLASS A COMMON STOCK
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 7,116,667 SHARES OF VOTING CLASS A COMMON STOCK
REPORTING 10 SHARED DISPOSITIVE POWER
PERSON WITH NONE(1/)
-------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,116,667 SHARES OF VOTING CLASS A COMMON STOCK(1/)
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
34.77
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
- --------
(1/) Does not include 2,730,948 shares of Voting Class A Common Stock, with
respect to which shares the Reporting Person may (i) vote or direct the
vote with respect to certain matters or (ii) elect to acquire pursuant to
a right of first refusal or participate in the sale thereof pursuant to
tag-along rights, in each case under the Shareholders Agreement.
<PAGE> 3
SCHEDULE 13D
CUSIP NO. 125761205
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RECOVERY EQUITY PARTNERS, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or (e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 7,116,667 SHARES OF VOTING CLASS A COMMON STOCK
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 2,730,948 SHARES OF VOTING CLASS A COMMON STOCK
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 7,116,667 SHARES OF COMMON STOCK
REPORTING 10 SHARED DISPOSITIVE POWER
PERSON WITH NONE(1/)
-----------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,116,667 SHARES OF VOTING CLASS A COMMON STOCK(1/)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
34.77
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
- --------
(1/) Does not include 2,730,948 shares of Voting Class A Common Stock, with
respect to which shares the Reporting Person may (i) vote or direct the
vote with respect to certain matters or (ii) elect to acquire pursuant to
a right of first refusal or participate in the sale thereof pursuant to
tag-along rights, in each case under the Shareholders Agreement.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
SCHEDULE 13D
CUSIP NO. 125761205
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JOSEPH JAMES FINN-EGAN
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or (e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES CITIZEN
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 7,116,667 SHARES OF VOTING CLASS A COMMON STOCK
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 2,730,948 SHARES OF VOTING CLASS A COMMON STOCK
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 7,116,667 SHARES OF VOTING CLASS A COMMON STOCK
REPORTING 10 SHARED DISPOSITIVE POWER
PERSON WITH NONE(1/)
----------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,116,667 SHARES OF VOTING CLASS A COMMON STOCK(1/)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
34.77
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
- --------
(1/) Does not include 2,730,948 shares of Voting Class A Common Stock, with
respect to which shares the Reporting Person may (i) vote or direct the
vote with respect to certain matters or (ii) elect to acquire pursuant to
a right of first refusal or participate in the sale thereof pursuant to
tag-along rights, in each case under the Shareholders Agreement.
<PAGE> 5
SCHEDULE 13D
CUSIP NO. 125761205
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JEFFREY ALAN LIPKIN
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or (e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES CITIZEN
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 7,116,667 SHARES OF VOTING CLASS A COMMON STOCK
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 2,730,948 SHARES OF VOTING CLASS A COMMON STOCK
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 7,116,667 SHARES OF VOTING CLASS A COMMON STOCK
REPORTING 10 SHARED DISPOSITIVE POWER
PERSON WITH NONE(1/)
------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,116,667 SHARES OF VOTING CLASS A COMMON STOCK(1/)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
34.77
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
- --------
(1/) Does not include 2,730,948 shares of Voting Class A Common Stock, with
respect to which shares the Reporting Person may (i) vote or direct the
vote with respect to certain matters or (ii) elect to acquire pursuant to
a right of first refusal or participate in the sale thereof pursuant to
tag-along rights, in each case under the Shareholders Agreement.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 6
This Amendment No. 2 (the "Second Amendment") to the Statement
on Schedule 13D originally filed on May 8, 1992, as amended by Amendment No. 1
thereto filed on January 19, 1993 (such Statement, as so amended, the "Original
Statement" and the Original Statement together with the Second Amendment, the
"Statement") amends Items 3, 4 and 5 of the Original Statement. Capitalized
terms used and not defined herein shall have the meanings ascribed to them in
the Original Statement.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 as set forth in the Original Statement is amended by
adding the following to the end of such item.
On January 6, 1997, REI elected to exercise the
Warrant Certificate to purchase 450,000 shares of Voting Class
A Common Stock for an aggregate exercise price of $1,687,500.
The source of funds for such purchase came from working
capital of REI available for investment.
Item 4. Purposes of Transactions
Item 4 as set forth in the Original Statement is amended by
adding the following after the penultimate paragraph of such item.
On January 6, 1997, REI elected to exercise the
Warrant Certificate as described in Item 3 above.
Item 5. Interest in Securities of the Issuer.
Item 5 as set forth in the Original Statement is amended by
deleting subsections 5(a) and 5(b) and replacing them with the following.
(a) As a result of the issuance to REI of 450,000
shares of Voting Class A Common Stock upon the exercise of the
Warrant Certificate, the aggregate number of shares of Voting
Class A Common Stock beneficially owned by the Reporting
Persons is 7,116,667, or approximately 34.77% of the class
of such securities.
(b) The responses of the Reporting Persons set forth
above in Items (7) through (11) of pages 1, 2, 3 and 4 of this
Statement which relate to shares of Voting Class A Common
Stock beneficially owned by the Reporting Persons are
incorporated herein by reference.
<PAGE> 7
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 Second Amendment with respect to the undersigned
is true, complete and correct and each of the undersigned agrees that this
Second Amendment may be filed jointly.
Dated: January 13, 1997
Recovery Equity Investors, L.P.
By: Recovery Equity Partners, L.P.,
Its General Partner
By: /s/ Joseph J. Finn-Egan
__________________________________
Joseph J. Finn-Egan
General Partner
By: /s/ Jeffrey A. Lipkin
__________________________________
Jeffrey A. Lipkin
General Partner
Recovery Equity Partners, L.P.
By: /s/ Joseph J. Finn-Egan
__________________________________
Joseph J. Finn-Egan
General Partner
By: /s/ Jeffrey A. Lipkin
__________________________________
Jeffrey A. Lipkin
General Partner
Joseph J. Finn-Egan
______________________________________
Joseph J. Finn-Egan
Jeffrey A. Lipkin
______________________________________
Jeffrey A. Lipkin
