================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)
----------
AVIALL, INC.
(Name of Issuer)
Common Stock, $.01 par value per share 05366B102
(Title of class of securities) (CUSIP number)
David E. Zeltner, Esq.
Weil, Gotshal & Manges LLP
767 Fifth Avenue
New York, New York 10153 (212) 310-8000
(Name, address and telephone number of person authorized
to receive notices and communications)
March 1, 1999
(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 that is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss. 240.13d-7 for other
parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 16 pages)
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NY2:\285238\01\643@01!.DOC\65575.0003
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------- --------------------------------------------------------
CUSIP No. 05366B102 13D Page 2 of 16 pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
<S> <C>
1 NAME OF REPORTING PERSON NOLAN ACQUISITION PARTNERS
S.S. OR I.R.S. IDENTIFICATION NO. 75-2787642
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- ----------------------------------------------------------------- -------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------- ------------------------------------------------------------------------------------------------- -----
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
- ---------------------- ------------------------------------------------------------------------ ------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Texas
- ---------------------- ------------------------------------------------------------------------ ------------------------------
7 SOLE VOTING POWER: 1,452,900
NUMBER OF
SHARES
------------------- ------------------------------------------------ ------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
------------------- ------------------------------------------------ ------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 1,452,900
REPORTING
------------------- ------------------------------------------------ ------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.0%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
- ---------------------- -------------------------------------------------------------------------------------------------------
<PAGE>
- ----------------------------------------------------------- --------------------------------------------------------
CUSIP No. 05366B102 13D Page 3 of 16 pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON NOLAN ACQUISITION GROUP, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. 75-2786370
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- -------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------- -------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
- ---------------------- -------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER: 0
NUMBER OF
SHARES
------------------- ------------------------------------------------ ------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,452,900
OWNED BY
------------------- ------------------------------------------------ ------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- ------------------------------------------------ ------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.0%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
- ---------------------- -------------------------------------------------------------------------------------------------------
<PAGE>
- ----------------------------------------------------------- --------------------------------------------------------
CUSIP No. 05366B102 13D Page 4 of 16 pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON KINCAID CAPITAL GROUP,
a Texas corporation
S.S. OR I.R.S. IDENTIFICATION NO. 75-2779494
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- -------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------- -------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Texas
- ---------------------- -------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER: 0
NUMBER OF
SHARES
------------------- ------------------------------------------------ ------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,452,900
OWNED BY
------------------- ------------------------------------------------ ------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- ------------------------------------------------ ------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.0%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
- ---------------------- -------------------------------------------------------------------------------------------------------
<PAGE>
- ----------------------------------------------------------- --------------------------------------------------------
CUSIP No. 05366B102 13D Page 5 of 16 pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON THOMAS R. KINCAID
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- -------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: PF
- ---------------------- -------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States of America
- ---------------------- -------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER: 0
NUMBER OF
SHARES
------------------- ------------------------------------------------ ------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,452,900
OWNED BY
------------------- ------------------------------------------------ ------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- ------------------------------------------------ ------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.0%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
- ---------------------- -------------------------------------------------------------------------------------------------------
<PAGE>
- ----------------------------------------------------------- --------------------------------------------------------
CUSIP No. 05366B102 13D Page 6 of 16 pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON DAN KOMNENOVICH
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- -------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: PF
- ---------------------- -------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States of America
- ---------------------- -------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER: 0
NUMBER OF
SHARES
------------------- ------------------------------------------------ ------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,452,900
OWNED BY
------------------- ------------------------------------------------ ------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- ------------------------------------------------ ------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.0%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
- ---------------------- -------------------------------------------------------------------------------------------------------
<PAGE>
- ----------------------------------------------------------- --------------------------------------------------------
CUSIP No. 05366B102 13D Page 7 of 16 pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON RICHARD JONES
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- -------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: PF
- ---------------------- -------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States of America
- ---------------------- -------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER: 0
NUMBER OF
SHARES
------------------- ------------------------------------------------ ------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,452,900
OWNED BY
------------------- ------------------------------------------------ ------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- ------------------------------------------------ ------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.0%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
- ---------------------- -------------------------------------------------------------------------------------------------------
<PAGE>
- ----------------------------------------------------------- --------------------------------------------------------
CUSIP No. 05366B102 13D Page 8 of 16 pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON CONESE CAPITAL, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. 58-2423275
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- -------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------- -------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
- ---------------------- -------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER: 0
NUMBER OF
SHARES
------------------- ------------------------------------------------ ------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,452,900
OWNED BY
------------------- ------------------------------------------------ ------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- ------------------------------------------------ ------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.0%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
- ---------------------- -------------------------------------------------------------------------------------------------------
<PAGE>
- ----------------------------------------------------------- --------------------------------------------------------
CUSIP No. 05366B102 13D Page 9 of 16 pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON CONESE FAMILY PARTNERSHIP
(NEVADA), L.P.
S.S. OR I.R.S. IDENTIFICATION NO. 88-0381099
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- -------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------- -------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Nevada
- ---------------------- -------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER: 0
NUMBER OF
SHARES
------------------- ------------------------------------------------ ------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,452,900
OWNED BY
------------------- ------------------------------------------------ ------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- ------------------------------------------------ ------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.0%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
- ---------------------- -------------------------------------------------------------------------------------------------------
<PAGE>
- ----------------------------------------------------------- --------------------------------------------------------
CUSIP No. 05366B102 13D Page 10 of 16 pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON CONESE GENERAL PARTNER
(NEVADA), INC.
S.S. OR I.R.S. IDENTIFICATION NO. 88-0381098
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- -------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------- -------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Nevada
- ---------------------- -------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER: 0
NUMBER OF
SHARES
------------------- ------------------------------------------------ ------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,452,900
OWNED BY
------------------- ------------------------------------------------ ------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- ------------------------------------------------ ------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.0%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
- ---------------------- -------------------------------------------------------------------------------------------------------
<PAGE>
- ----------------------------------------------------------- --------------------------------------------------------
CUSIP No. 05366B102 13D Page 11 of 16 pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON EUGENE P. CONESE
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- -------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: PF
- ---------------------- -------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States of America
- ---------------------- -------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER: 0
NUMBER OF
SHARES
------------------- ------------------------------------------------ ------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,452,900
OWNED BY
------------------- ------------------------------------------------ ------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- ------------------------------------------------ ------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,452,900
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.0%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
- ---------------------- -------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
This Amendment No. 4 ("Amendment No. 4") amends the Statement on
Schedule 13D (the "Schedule 13D") filed on November 9, 1998, as amended by
Amendment No. 1 filed on December 5, 1998, Amendment No. 2 filed on January 22,
1999 and Amendment No. 3 filed February 2, 1999, by and on behalf of the
following persons (collectively, the "Reporting Persons"): Nolan Acquisition
Partners, a Texas general partnership ("NAP"), Nolan Acquisition Group, L.P., a
Delaware limited partnership ("NAG"), Kincaid Capital Group, a Texas Corporation
("Kincaid Capital"), Thomas R. Kincaid ("Kincaid"), Richard Jones ("Jones"), Dan
Komnenovich ("Komnenovich"), Conese Capital, L.L.C., a Delaware limited
liability company ("CCL"), Conese Family Partnership (Nevada), L.P., a Nevada
limited partnership ("CFP"), Conese General Partner (Nevada), Inc., a Nevada
corporation ("CGN") and Eugene P. Conese ("Conese"). Capitalized terms used
herein and not defined herein have the meanings ascribed thereto in the Schedule
13D.
ITEM 4. PURPOSE OF TRANSACTION.
On February 23, 1999, the Issuer publicly announced, among
other things, that it had retained Merrill Lynch & Co. to assist the Company in
exploring possible strategic alternatives to improve shareholder value. On March
1, 1999, Mr. Eugene P. Conese, Sr., on behalf of the Reporting Persons, sent a
letter to the Issuer's Board of Directors (the "March 1 Letter") that reads as
follows:
NOLAN ACQUISITION PARTNERS
125 E. John Carpenter Freeway
Suite 190
Irving, Texas 75062
972-501-0007
972-501-0477 Fax
March 1, 1999
Board of Directors
Aviall, Inc.
2075 Diplomat Drive
Dallas, Texas 75234-8999
Attn: Mr. Eric Anderson,
Chairman, President and Chief Executive Officer
Dear Directors:
As you know, in our letter to Eric Anderson of January 29,
1999, we recommended that Aviall engage a reputable investment banking firm to
explore a sale of the Company or other transaction that would create shareholder
value. We are therefore encouraged by the Company's February 23 announcement
that it has engaged Merrill Lynch & Co. to assist the Company in exploring
possible strategic alternatives to improve shareholder value.
12
<PAGE>
As the holders of 1,452,900 shares of the common stock of
Aviall, constituting approximately 8.0% of the outstanding shares, we share your
belief that Aviall's potential has not been reflected in its stock price and
that Aviall should pursue strategic alternatives to enhance shareholder value.
We are prepared to offer just such an alternative and hereby propose a
"friendly" cash merger transaction of Aviall with a corporation to be formed by
our group for that purpose in which all Aviall shareholders (other than our
group) would receive $15.50 per share in cash in exchange for their common
stock. We are highly confident that we can obtain commitments for debt and
equity financing sufficient to fund the acquisition.
Our proposal is subject to our being afforded the opportunity
to, and our being satisfied with the results of, a diligence review of Aviall,
its properties and businesses. Depending upon the results of our review, we may
be prepared to increase our offer. We and our advisors are also prepared to
commence such a review promptly with your cooperation and would be willing to
enter into a confidentiality agreement in connection therewith (but not any such
agreement that would limit our rights as shareholders).
We will keep our cash merger proposal open while you are
studying strategic alternatives until March 26, 1999. If the Board of Directors
does not determine to proceed with our cash merger proposal, we assume that it
will be because the Board of Directors has determined that an alternative plan
will provide greater value for Aviall's shareholders. If, in our opinion, any
such alternative plan provides greater value for Aviall's shareholders, we will
be supportive of such alternative plan unless we determine to increase our cash
merger bid.
Although we do not regard our interest in Aviall as anything
other than "friendly," in view of the upcoming annual meeting of shareholders
and the importance of these strategic issues, we reserve our right to initiate
shareholder proposals in favor of a sale of the Company at the highest possible
price and/or nominate a slate of directors who would pursue such a sale. We also
reserve the right to initiate a tender offer for Aviall stock at a price which
may differ from the proposed merger price or to pursue other alternatives to
maximize shareholder value.
We hope that our proposal will be favorably acted upon by the
Board of Directors so that our respective advisors can proceed with the
preparation of definitive agreements containing customary representations, terms
and conditions.
Sincerely,
/s/Eugene P. Conese
Eugene P. Conese, Sr.
Cc: Thomas Kincaid
EPC,Sr/ml
13
<PAGE>
The Reporting Persons' future course of action will be
influenced by the Issuer's response to the cash merger proposal set forth in the
March 1 Letter (the "Nolan Group Proposal") and by any alternative plan adopted
by the Issuer's Board of Directors.
As indicated in the March 1 Letter and in view of the fact
that the Issuer's Board of Directors has not announced that it has determined to
sell the Company, the Reporting Persons may initiate shareholder proposals in
favor of such a sale at the highest possible price and/or nominate a slate of
directors who would pursue such a sale. In addition, the Reporting Persons
reserve the right to initiate a tender offer for the Common Stock at a price
that may differ from the price per share offered in the Nolan Group Proposal.
The Reporting Persons may also acquire additional shares of Common Stock
(subject to availability of shares at prices deemed favorable) in the open
market or in privately negotiated transactions, and may contact the Issuer, its
representatives, other persons interested in the Issuer or persons interested in
financing the Nolan Group Proposal or participating in any proxy solicitation
that may be commenced by the Reporting Persons.
Alternatively, while it is not the Reporting Persons' present
intention to do so, the Reporting Persons reserve the right to dispose of some
or all of their shares of Common Stock in the open market or in privately
negotiated transactions to third parties, or otherwise, depending upon the
course of action that the Reporting Persons pursue, market conditions and other
factors.
Although the foregoing represents the range of activities
presently contemplated by the Reporting Persons with respect to the Common
Stock, it should be noted that the possible activities of the Reporting Persons
are subject to change at any time.
Except as set forth above, as of the date of this statement
none of the Reporting Persons has any plans or proposals which relate to or
would result in any of the actions set forth in parts (a) through (j) of Item 4.
Such persons may at any time reconsider and change their plans or proposals
relating to the foregoing.
14
<PAGE>
SIGNATURE
The undersigned, after reasonable inquiry and to the best of their knowledge and
belief, certify that the information set forth in this Statement is true,
complete and correct.
Dated: March 2, 1999 NOLAN ACQUISITION PARTNERS
By: Nolan Acquisition Group, L.P.,
its Managing General Partner
By: Kincaid Capital Group,
a Texas corporation,
its General Partner
By: /s/ Richard Jones
-------------------------------
Print Name: Richard Jones
Title: Senior Vice President
NOLAN ACQUISITION GROUP, L.P.
By: Kincaid Capital Group,
a Texas corporation,
its General Partner
By: /s/ Richard Jones
-----------------------------------
Print Name: Richard Jones
Title: Senior Vice President
KINCAID CAPITAL GROUP, a Texas corporation
By: /s/ Richard Jones
---------------------------------------
Print Name: Richard Jones
Title: Senior Vice President
/s/ Thomas R. Kincaid
---------------------------------------
Thomas R. Kincaid
/s/ Richard Jones
---------------------------------------
Richard Jones
/s/ Dan Komnenovich
---------------------------------------
Dan Komnenovich
15
<PAGE>
CONESE CAPITAL, L.L.C.
By: Conese Family Partnership
(Nevada), L.P., its sole member
By: Conese General Partner (Nevada), Inc.,
its General Partner
By: /s/ Eugene P. Conese, Jr.
-----------------------------------
Print Name: Eugene P. Conese, Jr.
Title: Vice President
CONESE FAMILY PARTNERSHIP (NEVADA), L.P.
By: Conese General Partner (Nevada), Inc.,
its General Partner
By: /s/ Eugene P. Conese, Jr.
---------------------------------------
Print Name: Eugene P. Conese, Jr.
Title: Vice President
CONESE GENERAL PARTNER (NEVADA), INC.
By: /s/ Eugene P. Conese, Jr.
-------------------------------------------
Print Name: Eugene P. Conese, Jr.
Title: Vice President
/s/ Eugene P. Conese
-------------------------------------------
Eugene P. Conese
16
