<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
CYBEX INTERNATIONAL, INC.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
23252E 10 6
(CUSIP Number)
James H. Carll, Esq.
Archer & Greiner, One Centennial Square, Haddonfield, NJ 08033
(609-795-2121)
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
August 3, 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-l(b)(3) or (4), check the following box[ ].
Check the following box if a fee is being paid with this statement [ ].
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).
(Continued on the following pages)
Page 1 of 13 Pages
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_______________________________________________________________________________
CUSIP NO. 23252E 10 6 13D
_______________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
UM Holdings, Ltd. 22-1982496
______________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [ ]
______________________________________________________________________________
3 SEC USE ONLY
______________________________________________________________________________
4 SOURCE OF FUNDS (See Instructions)
00
______________________________________________________________________________
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
______________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New Jersey
_______________________________________________________________________________
| |
| 7 | SOLE VOTING POWER
| | Zero
NUMBER OF |_____|________________________________________________________
SHARES | |
BENEFICIALLY | 8 | SHARED VOTING POWER
OWNED BY | | Zero
EACH |_____|________________________________________________________
REPORTING | |
PERSON WITH | 9 | SOLE DISPOSITIVE POWER
| | Zero
|_____|________________________________________________________
| |
| 10 | SHARED DISPOSITIVE POWER
| | Zero
_______________|_____|_________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
______________________________________________________________________________
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
______________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.00%
______________________________________________________________________________
14 TYPE OF REPORTING PERSON (See Instructions)
HC and CO
______________________________________________________________________________
2
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_______________________________________________________________________________
CUSIP NO. 23252E 10 6 13D
_______________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
UM Equity Corp. 22-3343565
______________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [ ]
______________________________________________________________________________
3 SEC USE ONLY
______________________________________________________________________________
4 SOURCE OF FUNDS (See Instructions)
00
______________________________________________________________________________
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
______________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_______________________________________________________________________________
| |
| 7 | SOLE VOTING POWER
| | 4,173,056
NUMBER OF |_____|________________________________________________________
SHARES | |
BENEFICIALLY | 8 | SHARED VOTING POWER
OWNED BY | | Zero
EACH |_____|________________________________________________________
REPORTING | |
PERSON WITH | 9 | SOLE DISPOSITIVE POWER
| | 4,173,056
|_____|________________________________________________________
| |
| 10 | SHARED DISPOSITIVE POWER
| | Zero
_______________|_____|_________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,173,056
______________________________________________________________________________
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
______________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
48.0%
______________________________________________________________________________
14 TYPE OF REPORTING PERSON (See Instructions)
CO
______________________________________________________________________________
3
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_______________________________________________________________________________
CUSIP NO. 23252E 10 6 13D
_______________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
UM Investment Corp. 51-0266463
______________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [ ]
______________________________________________________________________________
3 SEC USE ONLY
______________________________________________________________________________
4 SOURCE OF FUNDS (See Instructions)
WC
______________________________________________________________________________
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
______________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_______________________________________________________________________________
| |
| 7 | SOLE VOTING POWER
| | 5,000
NUMBER OF |_____|________________________________________________________
SHARES | |
BENEFICIALLY | 8 | SHARED VOTING POWER
OWNED BY | | Zero
EACH |_____|________________________________________________________
REPORTING | |
PERSON WITH | 9 | SOLE DISPOSITIVE POWER
| | 5,000
|_____|________________________________________________________
| |
| 10 | SHARED DISPOSITIVE POWER
| | Zero
_______________|_____|_________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000
______________________________________________________________________________
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
______________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.06%
______________________________________________________________________________
14 TYPE OF REPORTING PERSON (See Instructions)
CO
______________________________________________________________________________
4
<PAGE>
_______________________________________________________________________________
CUSIP NO. 23252E 10 6 13D
_______________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
John Aglialoro - ###-##-####
______________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [ ]
______________________________________________________________________________
3 SEC USE ONLY
______________________________________________________________________________
4 SOURCE OF FUNDS (See Instructions)
00
______________________________________________________________________________
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
______________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
_______________________________________________________________________________
| |
| 7 | SOLE VOTING POWER
| | 3,666
NUMBER OF |_____|________________________________________________________
SHARES | |
BENEFICIALLY | 8 | SHARED VOTING POWER
OWNED BY | | Zero
EACH |_____|________________________________________________________
REPORTING | |
PERSON WITH | 9 | SOLE DISPOSITIVE POWER
| | 3,666
|_____|________________________________________________________
| |
| 10 | SHARED DISPOSITIVE POWER
| | Zero
_______________|_____|_________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,666
______________________________________________________________________________
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
______________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.04%
______________________________________________________________________________
14 TYPE OF REPORTING PERSON (See Instructions)
IN
______________________________________________________________________________
5
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_______________________________________________________________________________
CUSIP NO. 23252E 10 6 13D
_______________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
Joan Carter - ###-##-####
______________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [ ]
______________________________________________________________________________
3 SEC USE ONLY
______________________________________________________________________________
4 SOURCE OF FUNDS (See Instructions)
00
______________________________________________________________________________
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
______________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
_______________________________________________________________________________
| |
| 7 | SOLE VOTING POWER
| | 749
NUMBER OF |_____|________________________________________________________
SHARES | |
BENEFICIALLY | 8 | SHARED VOTING POWER
OWNED BY | | Zero
EACH |_____|________________________________________________________
REPORTING | |
PERSON WITH | 9 | SOLE DISPOSITIVE POWER
| | 749
|_____|________________________________________________________
| |
| 10 | SHARED DISPOSITIVE POWER
| | Zero
_______________|_____|_________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
749
______________________________________________________________________________
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
______________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.009%
______________________________________________________________________________
14 TYPE OF REPORTING PERSON (See Instructions)
IN
______________________________________________________________________________
6
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The Statement on Schedule 13-D dated May 23, 1997 (the "Schedule
13-D"), is hereby amended as follows:
Item 2 - Identity and Background.
Item 2 of the Schedule 13-D is hereby amended to read in its entirety
as follows:
"This Statement is filed jointly by UM Equity Corp., a Delaware
corporation ("UME"), UM Investment Corporation, a Delaware corporation ("UMI"),
UM Holdings, Ltd., a New Jersey corporation ("UM"), John Aglialoro and Joan
Carter.
"The principal business of UME, which is a wholly-owned subsidiary of
UM, is maintaining and managing investments. Its principal business and office
address is 103 Springer Boulevard, 3411 Silverside Road, Wilmington, Delaware
19810.
"The principal business of UMI, which is a wholly-owned subsidiary of
UM, is maintaining and managing investments. Its principal place of business and
office address is 103 Springer Boulevard, 3411 Silverside Road, Wilmington,
Delaware 19810.
"UM is a holding company. Companies which it owns or in which it has a
substantial equity interest provide services to the pharmaceutical industry,
provide management services to providers of executive physicals and related
services, manufacture and sell exercise equipment, operate a commercial airline,
develop, sell and distribute proprietary concrete products and provide
specialized staffing services. Its principal business and office address is 56
Haddon Avenue, Haddonfield, New Jersey O8033.
"John Aglialoro and Joan Carter, who are married, own substantially all
of the
7
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outstanding capital stock of UM and accordingly are controlling persons of UM.
"Schedule I hereto sets forth the following information with respect to
such shareholders and each director and executive officer of UM, UME and UMI
(each of whom is a citizen of the United States):
(a) name;
(b) business address;
(c) present principal occupation or employment and the name, principal
business and address of any corporation or other organization in which such
employment is conducted.
"During the past five years neither UMI, UM, UME, Mr. Aglialoro, nor
Ms. Carter, nor to the best of their respective knowledge, any person named in
Schedule I has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) or has been party to a civil proceeding as a
result of which such person was or is subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any violation with
respect to such laws".
Item 4 - Purpose of Transactions.
Item 4 of the Schedule 13-D is hereby amended by adding the following
additional paragraph:
"UM issued a press release on August 3, 1998 (a copy of which is
attached to this Schedule as Exhibit 2), announcing that it intends from time to
time to acquire up to an additional 1,000,000 shares of Cybex common stock. It
is UM's contemplation that the stock purchases will be effectuated through UMI.
The timing and amount of the stock purchases will
8
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depend upon market and other factors and, based upon such factors, UM may from
time-to-time choose to maintain its then present level of investment or choose
to sell a portion of its shares of Common Stock."
Item 5- Interest in Securities of the Issuer.
Item 5 of the Schedule 13-D is hereby amended to read in its entirety
as follows:
"UME owns 4,173,056 shares of the Common Stock, representing 40.0% of
the outstanding Common Stock (all percentages set forth herein being based upon
the outstanding shares as indicated in CYBEX's most recent available filing with
the Securities and Exchange Commission).
"UMI owns 5,000 shares of the Common Stock, representing 0.06% of the
outstanding Common Stock.
John Aglialoro owns 3,366 shares of the Common Stock, representing
0.04% of the outstanding Common Stock.
Joan Carter owns 749 shares of the Common Stock, representing 0.009% of
the outstanding Common Stock.
"Each of UME, UMI, Mr. Aglialoro and Ms. Carter possesses the sole
power to vote or to direct the vote and to dispose or to direct the disposition
of all shares of Common Stock owned by it.
"Neither UM, UME, UMI, Mr. Aglialoro nor Ms. Carter nor, to the best of
their respective knowledge, any of the persons listed on Schedule I hereto,
beneficially owns any shares of Common Stock, except (i) as listed above, (ii)
2,749 shares owned by Mr. Carll, (iii)
9
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options to acquire 42,730 shares held by Mr. Hicks, and (iv) 749 shares owned by
Mr. Hicks."
Item 7 - Material to be Filed as Exhibits.
Exhibit 1 - Joint Filing Agreement dated August 3, 1998.
Exhibit 2 - Press Release of UM Holdings, Ltd.
- -------------------
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: August 3, 1998 /s/ John Aglialoro
-------------------------
John Aglialoro,
Individually and as Chairman,
UM Holdings, Ltd., UM Equity Corp.
and UM Investment Corporation
/s/ Joan Carter
-------------------------
Joan Carter, Individually
10
<PAGE>
SCHEDULE I
Shareholders, Directors and Executive Officers
of
UM, UME and UMI
<TABLE>
<CAPTION>
Relationship
to UM, UME Principal
Name Business Address and UMI Occupation (1)
- ---- ---------------- ------------- --------------
<S> <C> <C> <C>
John Aglialoro UM Holdings, Ltd. Shareholder, Chairman
56 Haddon Avenue Director and of UM
Haddonfield, NJ 08033 Executive Officer
of UM; Director
and Executive
Officer of UME
and UMI
Joan Carter UM Holdings, Ltd. Shareholder, President of UM
56 Haddon Avenue Director and
Haddonfield, NJ 08033 Executive Officer
of UM; Director
and Executive
Officer of UME
and UMI
Arthur W. Hicks, Jr. UM Holdings, Ltd. Executive Officer Chief Financial
56 Haddon Avenue of UM; Executive Officer of UM
Haddonfield, NJ 08033 Officer and
Director of UME
and UMI
James H. Carll Archer & Greiner Director of UM, Member of the
One Centennial Square UME and UMI Law Firm of
Haddonfield, NJ 08033 Archer & Greiner
</TABLE>
(1) Address of employer is same as the individual's business address.
11
<PAGE>
EXHIBIT I
JOINT FILING AGREEMENT
In accordance with Rule 13d-l(f) under the Securities Exchange Act of
1934, the persons named below agree to the joint filing on behalf of each of
them of a Statement on Schedule 13D (including amendments thereto) with respect
to the common stock of CYBEX International, Inc., and further agree that this
Joint Filing Agreement be included as an Exhibit to such joint filings. In
evidence thereof the undersigned, being duly authorized, hereby execute this
Agreement this third day of August, 1998.
UM HOLDINGS, LTD.
By: /s/ John Aglialoro
------------------------
John Aglialoro, Chairman
UM EQUITY CORPORATION
By: /s/ John Aglialoro
------------------------
John Aglialoro, Chairman
UM INVESTMENT CORPORATION
By: /s/ John Aglialoro
------------------------
John Aglialoro, Chairman
/s/ John Aglialoro
------------------------
John Aglialoro, Individually
/s/ Joan Carter
------------------------
Joan Carter, Individually
12
<PAGE>
EXHIBIT 2
UM HOLDINGS, LTD. ANNOUNCES THAT IT INTENDS TO ACQUIRE
ADDITIONAL SHARES OF THE COMMON STOCK OF
CYBEX INTERNATIONAL, INC.
Haddonfield, N.J., August 3, 1998 - UM Holdings, Ltd., which is the
beneficial owner of approximately 48% of the outstanding common stock of Cybex
International, Inc. (AMEX:CYB), today announced that it intends to from time to
time acquire up to an additional one million shares of Cybex common stock. Cybex
currently has approximately 8.7 million shares of stock outstanding.
John Aglialoro, Chairman of UM Holdings, Ltd., stated: "We believe that
Cybex represents an attractive investment opportunity. For this reason, we have
decided to increase our investment position in the company. While the timing and
amount of these stock purchases will depend upon market and other factors, we do
not intend to acquire more than an additional one million shares of the stock."
Cybex International, Inc. is a leading strength and cardiovascular
equipment company providing customers with premium quality, professional
performance products for the commercial and consumer markets. UM Holdings, Ltd
is a private investment company located in Haddonfield, New Jersey.
13
