SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )
Kreisler Manufacturing Corporation
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(Name of Issuer)
Common Stock, $.125 par value per share
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(Title of Class of Securities)
500773106
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(CUSIP Number)
Dean M. Schwartz, Esquire
Stradley, Ronon, Stevens & Young, LLP
2600 One Commerce Square
Philadelphia, Pennsylvania 19103-7089
(215) 564-8078
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(Name, Address, and Telephone Number of Person Authorized to
Receive Notices and Communications)
November 17, 2000
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(Date of Event which Requires Filing of this Statement)
<PAGE>
Page 1A CUSIP No. 500773106
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1. Name(s) of Reporting Person: Henry Partners, L.P.
IRS Identification number: 23-2888396
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2. Member of a Group: (a)
-----
(b) x
-----
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3. SEC Use Only: ________
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4. Source of Funds: WC
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5. Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(c): ____
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6. Citizenship: Delaware, U.S.A.
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7. Sole Voting Power: 0 shares
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8. Shared Voting Power: 140,300 shares
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9. Sole Disposition Power: 0 shares
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10. Shared Disposition Power: 140,300 shares
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11. Aggregate Amount Beneficially owned: 140,300 shares
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12. Check if line 11 excludes shares: ____
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13. Percent of class on line 11: 7.2%
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14. Type of Reporting Person: PN
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<PAGE>
Page 1B CUSIP No. 500773106
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1. Name(s) of Reporting Person: Henry Investment Trust, L.P.
IRS Identification number: 23-2887157
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2. Member of a Group: (a)
-----
(b) x
------
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3. SEC Use Only: ________
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4. Source of Funds: OO
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5. Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(c): ____
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6. Citizenship: Commonwealth of
Pennsylvania, U.S.A.
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7. Sole Voting Power: 0 shares
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8. Shared Voting Power: 140,300 shares
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9. Sole Disposition Power: 0 shares
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10. Shared Disposition Power: 140,300 shares
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11. Aggregate Amount Beneficially owned: 140,300 shares
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12. Check if line 11 excludes shares: ____
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13. Percent of class on line 11: 7.2%
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14. Type of Reporting Person: PN
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<PAGE>
Page 1C CUSIP No. 500773106
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1. Name(s) of Reporting Person: Canine Partners, L.L.C.
IRS Identification number: omitted
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2. Member of a Group: (a)
-----
(b) x
-----
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3. SEC Use Only: ________
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4. Source of Funds: OO
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5. Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(c): ____
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6. Citizenship: Commonwealth of
Pennsylvania, U.S.A.
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7. Sole Voting Power: 117,500 shares
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8. Shared Voting Power: 22,800 shares
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9. Sole Disposition Power: 117,500 shares
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10. Shared Disposition Power: 22,800 shares
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11. Aggregate Amount Beneficially owned: 140,300 shares
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12. Check if line 11 excludes shares: ____
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13. Percent of class on line 11: 7.2%
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14. Type of Reporting Person: OO
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<PAGE>
Page 1D CUSIP No. 500773106
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1. Name(s) of Reporting Person: David W. Wright
IRS Identification number: omitted
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2. Member of a Group: (a)
-----
(b) x
------
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3. SEC Use Only: ________
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4. Source of Funds: PF
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5. Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(c): ____
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6. Citizenship: U.S.A.
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7. Sole Voting Power: 22,800 shares
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8. Shared Voting Power: 117,500 shares
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9. Sole Disposition Power: 22,800 shares
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10. Shared Disposition Power: 117,500 shares
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11. Aggregate Amount Beneficially owned: 140,300 shares
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12. Check if line 11 excludes shares: ____
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13. Percent of class on line 11: 7.2%
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14. Type of Reporting Person: IN
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<PAGE>
ITEM 1. Security and Issuer
This statement (the "Statement") relates to the common stock, par value
$.125, (the "Shares"), of Kreisler Manufacturing Corporation (the "Issuer"). The
principal executive offices of the Issuer are located at 5960 Central Avenue,
Suite H., St. Petersburg, Florida 33707.
ITEM 2. Identity and Background
(a) This Statement is being filed by Henry Partners, L.P. ("Henry"), Henry
Investment Trust, L.P. ("HIT"), Canine Partners, L.L.C. ("Canine"), and David W.
Wright ("Wright") (collectively, the "Reporting Persons"). Henry is a Delaware
limited partnership, HIT is a Pennsylvania limited partnership, and Canine is a
Pennsylvania limited liability company.
(b) The business address of Henry, HIT, Canine, and Wright is 255 South 17th
Street, Suite 2501, Philadelphia, PA 19103.
(c) Henry is a private investment partnership engaged in the purchase and sale
of securities. HIT is the general partner of Henry, and Canine is the general
partner of HIT. Wright is the President of Canine.
(d) During the last five years, none of the Reporting Persons have been
convicted in a criminal proceeding (excluding traffic violations and similar
misdemeanors).
(e) During the last five years, none of the Reporting Persons were a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
resulting in a judgment, decree, or final order, as specified in this item.
(f) Wright is a citizen of the United States.
ITEM 3. Source and Amount of Funds or Other Consideration
(a) The amount of funds used in purchasing the Shares (including commissions
thereon) attributable to the Shares purchased by Henry, through the date hereof,
and which may be deemed to be beneficially owned by HIT, Canine, and Wright, is
$466,996.44. The funds used to acquire such Shares represent available cash
balances of Henry.
(b) The amount of funds used in purchasing the Shares (including commissions
thereon) attributable to the Shares purchased by Wright, and which may be deemed
to be beneficially owned by Henry, HIT and Canine, is $105,771.50. The funds
used to acquire such Shares represent personal funds of Wright.
ITEM 4. Purpose of Transaction
The Reporting Persons believe that the Shares of the Issuer are undervalued
and represent an attractive investment opportunity. The Reporting Persons
presently have no plans or proposals which would relate to or result in any of
the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D
except as set forth herein. The Reporting Persons intend to monitor closely
management's efforts to increase stockholder value and may communicate with the
management and Board of Directors of the Issuer in that regard. Depending on
various factors including, without limitation, the Reporting Persons' financial
<PAGE>
position and investment strategy, the price level of the Shares, conditions in
the securities markets, and general economic and industry conditions, the
Reporting Persons may in the future take such actions with respect to their
investment in the Issuer as they deem appropriate including, without limitation,
purchasing additional Shares in the open market or otherwise, contacting others
concerning a possible acquisition of the Issuer, seeking to nominate a
representative to the Issuer's board of directors or presenting proposals for
stockholder approval. The Reporting Persons may also sell some or all of their
Shares in the open market or through privately negotiated transactions, or
change their intentions with respect to any and all matters referred to in this
Item 4.
ITEM 5. Interest in Securities of Issuer
(a) As of the date of this Statement, Henry beneficially owns, and HIT, Canine,
and Wright may be deemed to beneficially own 117,500 Shares of the Issuer. In
addition, Wright beneficially owns 22,800 Shares of the Issuer, which Henry,
HIT, and Canine may be deemed to beneficially own. As such, in the aggregate,
Henry, HIT, Canine, and Wright may be deemed to beneficially own 140,300 Shares
of the Issuer; constituting 7.2% of the class of securities identified pursuant
to Item 1. This percentage is based on the belief that 1,955,379 Shares of the
Issuer are outstanding, as of the date hereof, as set forth in the Issuer's most
recent Form 10-QSB for the quarterly period ended September 30, 2000.
(b) Henry and HIT have shared voting and dispositive power over 140,300 Shares
of the Issuer. Canine as the general partner of HIT has sole voting and
dispositive power with respect to 117,500 Shares of the Issuer and shared voting
and dispositive power with respect to 22,800 Shares of the Issuer, which
represent the Shares held by Wright. Wright has sole voting and dispositive
power with respect to such 22,800 Shares of the Issuer and shared voting and
dispositive power with respect to such 117,500 Shares of the Issuer, which
represent the number of shares that may be deemed to be beneficially owned by
Wright through his position as President of Canine.
(c) During the past 60 days, Henry engaged in the following transactions in
Shares of the Issuer:
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DATE NUMBER OF SHARES PRICE PER SHARE
PURCHASED (SOLD)
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9/28/00 2,500 3.78
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10/3/00 2,000 3.70
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11/17/00 41,000 3.55
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11/21/00 2,000 3.888
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Each of the above transactions were effected in the open market through the
National Association of Securities Dealers, Inc., Automated Quotation System
(NASDAQ). The Reporting Persons beneficially own no Shares of the Issuer except
as set forth herein.
<PAGE>
ITEM 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
HIT is the general partner of Henry pursuant to an agreement of limited
partnership which provides HIT with the authority, among other things, to invest
the funds of Henry in securities, including Shares of the Issuer, to hold, to
vote and dispose of those Shares and to file this Statement on behalf of Henry.
Pursuant to such agreement of limited partnership, HIT is entitled to fees and
allocations based on the assets and net profits of Henry. Canine is the general
partner of Henry pursuant to an agreement of limited partnership, which provides
Canine with the authority, among other things, to direct HIT with respect to its
responsibilities as general partner of Henry. Wright is the President of Canine.
ITEM 7. Materials to be filed
None. No joint filing agreement has been established, and each filing party
has signed this Schedule 13D.
SIGNATURES:
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.
Henry Partners, L.P., by its general partner,
Henry Investment Trust, L.P., by its
general partner, Canine Partners, L.L.C.
By: /s/ David W. Wright Date: November 27, 2000
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David W. Wright,
President
Henry Investment Trust, L.P., by its general partner
Canine Partners, L.L.C.
By: /s/ David W. Wright Date: November 27, 2000
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David W. Wright,
President
Canine Partners, L.L.C.
By: /s/ David W. Wright Date: November 27, 2000
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David W. Wright,
President
/s/ David W. Wright Date: November 27, 2000
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David W. Wright
