SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. _____________)*
Transit Group, Inc.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
893691105
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(CUSIP Number)
May 14, 1999
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
*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 ("Exchange 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 13 Pages
NY2:\521182\01\B65@01!.DOC\47660.1654
<PAGE>
<TABLE>
<CAPTION>
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CUSIP NO. 893691105 13G PAGE 2 OF 13 PAGES
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<S> <C>
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GE Capital Equity Investments, Inc., a Delaware corporation
- -------------- --------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
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5 SOLE VOTING POWER
0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
- ---------------------------- ----------- ------------------------------------------------------------------------------------------
6 SHARED VOTING POWER
5,000,000
- ---------------------------- ----------- ------------------------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
- ---------------------------- ----------- ------------------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
5,000,000
- -------------- --------------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
- -------------- --------------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
16.1%
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12 TYPE OF REPORTING PERSON
CO
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Page 2 of 13 Pages
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CUSIP NO. 893691105 13G PAGE 3 OF 13 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Capital Corporation, a New York corporation
13-1500700
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- -------------- --------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------- --------------------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York, USA
- -------------- --------------------------------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
- ---------------------------- ----------- ------------------------------------------------------------------------------------------
6 SHARED VOTING POWER
5,000,000
- ---------------------------- ----------- ------------------------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
- ---------------------------- ----------- ------------------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
5,000,000
- -------------- --------------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000,000
- -------------- --------------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
- -------------- --------------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
16.1%
- -------------- --------------------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
CO
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Page 3 of 13 Pages
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CUSIP NO. 893691105 13G PAGE 4 OF 13 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Capital Services, Inc., a Delaware corporation
06-1109503
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
- -------------- --------------------------------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
Disclaimed (see 9 below)
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
- ---------------------------- ----------- ------------------------------------------------------------------------------------------
6 SHARED VOTING POWER
0
- ---------------------------- ----------- ------------------------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
Disclaimed (see 9 below)
- ---------------------------- ----------- ------------------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- -------------- --------------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Beneficial ownership of all shares disclaimed by General
Electric Capital Services, Inc.
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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
Not applicable (see 9 above)
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12 TYPE OF REPORTING PERSON
CO
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Page 4 of 13 Pages
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CUSIP NO. 893691105 13G PAGE 5 OF 13 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Company, a New York corporation
14-0689340
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York, USA
- -------------- --------------------------------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
Disclaimed (see 9 below)
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
- ---------------------------- ----------- ------------------------------------------------------------------------------------------
6 SHARED VOTING POWER
0
- ---------------------------- ----------- ------------------------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
Disclaimed (see 9 below)
- ---------------------------- ----------- ------------------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- -------------- --------------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Beneficial ownership of all shares disclaimed by General Electric Company
- -------------- --------------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
- -------------- --------------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
Not applicable (see 9 above)
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12 TYPE OF REPORTING PERSON
CO
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</TABLE>
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 5 of 13 Pages
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ITEM 1. NAME OF ISSUER AND ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
(a) and (b) This statement relates to the Common Stock, par value $.01
per share (the "Common Stock"), of Transit Group, Inc., a Florida corporation
(the "Issuer"), which is issuable upon conversion of the Series A Convertible
Preferred Stock ("Preferred Stock") of the Issuer. The address of the principal
executive offices of the Issuer is 2859 Pacer Ferry Road, Suite 1740, Atlanta,
Georgia 30339.
ITEM 2. PERSON FILING:
(a)-(c) This statement is being filed by GE Capital Equity Investments,
Inc., a Delaware corporation ("GECEI") for and on behalf of itself, General
Electric Capital Corporation ("GE Capital"), General Electric Capital Services,
Inc. ("GECS") and General Electric Company ("GE"). The agreement among each of
GECEI, GE Capital, GECS and GE that this statement be filed on behalf of each of
them is attached hereto as Exhibit A. GECS is a wholly-owned subsidiary of GE,
GE Capital is a subsidiary of GECS and GECEI is a subsidiary of GE Capital.
GECEI's principal business office is located at 120 Long Ridge Road, Stamford,
Connecticut 06927. GE Capital is a New York corporation with its principal
business office is located at 260 Long Ridge Road, Stamford, Connecticut 06927.
GECS is a Delaware corporation with its principal business office located at 260
Long Ridge Road, Stamford, Connecticut 06927. GE is a New York corporation with
its principal business office located at 3135 Easton Turnpike, Fairfield,
Connecticut 06431.
(d)-(e) This statement relates to the Common Stock of the Issuer, par
value $.01 per share. The CUSIP No. for such shares is 893691105. Such stock is
issuable upon the conversion of the Preferred Stock beneficially owned by GECEI.
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B) OR 13D-2(B) OR (C),
CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under Section 15 of the
Exchange Act
(b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act
(c) [ ] Insurance company as defined in Section 3(a)(19) of the
Exchange Act
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act of 1940
(e) [ ] An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E)
(f) [ ] An employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F)
(g) [ ] A parent holding company or control person in accordance
with Rule 13d-1(b)(1)(ii)(G)
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act
(i) [ ] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J)
If this statement is filed pursuant to Rule 13d-1(c), check this
box. [X]
Page 6 of 13 Pages
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ITEM 4. OWNERSHIP.
(a)-(c) The response of GECEI, GE Capital, GECS and GE to Items 5, 6,
7, 8, 9 and 11 of each of their respective Cover Sheets which relate to the
beneficial ownership of the Common Stock of the Issuer is incorporated herein by
reference. All of such shares are owned directly by GECEI.
Each of GECS and GE hereby expressly disclaims the beneficial ownership
of any Common Stock of the Issuer over which it does not have sole dispositive
power.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
N/A
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
N/A
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
N/A
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
N/A
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
N/A
ITEM 10. CERTIFICATION.
(a) N/A
(b) By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
Page 7 of 13 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.
Dated: May 20, 1999
GE CAPITAL EQUITY INVESTMENTS, INC.
By: /s/ Michael E. Pralle
--------------------------------
Name: Michael E. Pralle
Title: President
Page 8 of 13 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.
Dated: May 20, 1999
GENERAL ELECTRIC CAPITAL CORPORATION
By: /s/ Michael E. Pralle
--------------------------------
Name: Michael E. Pralle
Title: Vice President
Page 9 of 13 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.
Dated: May 20, 1999
GENERAL ELECTRIC CAPITAL SERVICES, INC.
By: /s/ Michael E. Pralle
--------------------------------
Name: Michael E. Pralle
Title: Attorney in Fact
* Power of attorney, dated as of April 30, 1998, by General Electric Capital
Services, Inc., is hereby incorporated by reference to Schedule 13D for
Telescan, Inc., filed January 14, 1999 by GE Capital Equity Services, Inc.
Page 10 of 13 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.
Dated: May 20, 1999
GENERAL ELECTRIC COMPANY
By: /s/ Michael E. Pralle
--------------------------------
Name: Michael E. Pralle
Title: Attorney in Fact
* Power of attorney, dated as of April 30, 1998, by General Electric Company, is
hereby incorporated by reference to Schedule 13D for Telescan, Inc., filed
January 14, 1999 by GE Capital Equity Services, Inc.
Page 11 of 13 Pages
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EXHIBIT INDEX
EXHIBIT DESCRIPTION
------- -----------
A Joint Filing Agreement, dated May 20, 1999, among
GECEI, GE Capital, GECS and GE to file joint
statement on Schedule 13G.
Page 12 of 13 Pages
EXHIBIT A
JOINT FILING AGREEMENT
This will confirm the agreement by and among all the undersigned that
the Schedule 13G filed on or about this date with respect to the beneficial
ownership of the undersigned of shares of the Common Stock, par value $.01 per
share, of Transit Group, Inc. is being filed on behalf of each of the
undersigned. This agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument.
Dated: May 20, 1999
GE CAPITAL EQUITY INVESTMENTS, INC.
By: /s/ Michael E. Pralle
------------------------------------
Name: Michael E. Pralle
Title: President
GENERAL ELECTRIC CAPITAL CORPORATION
By: /s/ Michael E. Pralle
------------------------------------
Name: Michael E. Pralle
Title: Vice President
GENERAL ELECTRIC CAPITAL SERVICES, INC.
By: /s/ Michael E. Pralle
------------------------------------
Name: Michael E. Pralle
Title: Attorney in Fact
GENERAL ELECTRIC COMPANY
By: /s/ Michael E. Pralle
------------------------------------
Name: Michael E. Pralle
Title: Attorney in Fact
* Powers of attorney, each dated as of April 30, 1998, by General Electric
Capital Services, Inc. and General Electric Company, respectively, are hereby
incorporated by reference to Schedule 13D for Telescan, Inc., filed January 14,
1999 by GE Capital Equity Services, Inc.
Page 13 of 13 Pages
