<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
(RULE 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b) (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
(AMENDMENT NO. 2 )*
NORTEK INC.
- -------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK
- -------------------------------------------------------------------------------
(Title of Class of Securities)
65655 9 101
- -------------------------------------------------------------------------------
(CUSIP Number)
FEBRUARY 4, 2000
- -------------------------------------------------------------------------------
(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 disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act
(however, SEE the NOTES).
Page 1 of 8
<PAGE>
CUSIP No. 65655 9 101 13G PAGE 2 OF 8
----------- - -
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
CANYON CAPITAL ADVISORS LLC
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
DELAWARE
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 449,500
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 0
--------------------------------------------------
(7) Sole Dispositive Power
449,500
--------------------------------------------------
(8) Shared Dispositive Power
0
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
449,500
- -------------------------------------------------------------------------------
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
4.1%
- -------------------------------------------------------------------------------
(12) Type of Reporting Person (See Instructions)
IA
- -------------------------------------------------------------------------------
<PAGE>
CUSIP No. 65655 9 101 13G PAGE 3 OF 8
----------- - -
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
MITCHELL R. JULIS
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
UNITED STATES
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 0
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 449,500
--------------------------------------------------
(7) Sole Dispositive Power
0
--------------------------------------------------
(8) Shared Dispositive Power
449,500
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
449,500
- -------------------------------------------------------------------------------
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
4.1%
- -------------------------------------------------------------------------------
(12) Type of Reporting Person (See Instructions)
IN
- -------------------------------------------------------------------------------
<PAGE>
CUSIP No. 65655 9 101 13G PAGE 4 OF 8
----------- - -
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
JOSHUA S. FRIEDMAN
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
UNITED STATES
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 0
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 449,500
--------------------------------------------------
(7) Sole Dispositive Power
0
--------------------------------------------------
(8) Shared Dispositive Power
449,500
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
449,500
- -------------------------------------------------------------------------------
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
4.1%
- -------------------------------------------------------------------------------
(12) Type of Reporting Person (See Instructions)
IN
- -------------------------------------------------------------------------------
<PAGE>
CUSIP No. 65655 9 101 13G PAGE 5 OF 8
----------- - -
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
R. CHRISTIAN B. EVENSEN
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
UNITED STATES
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 0
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 449,500
--------------------------------------------------
(7) Sole Dispositive Power
0
--------------------------------------------------
(8) Shared Dispositive Power
449,500
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
449,500
- -------------------------------------------------------------------------------
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
4.1%
- -------------------------------------------------------------------------------
(12) Type of Reporting Person (See Instructions)
IN
- -------------------------------------------------------------------------------
<PAGE>
ITEM 1.
(a) Name of Issuer
Nortek Inc.
---------------------------------------------------------------------
(b) Address of Issuer's Principal Executive Offices
50 Kennedy Plaza
Providence, RI 02903-2360
---------------------------------------------------------------------
ITEM 2.
(a) Name of Person Filing
This Schedule 13G is being filed on behalf of the following
persons*:
(i) Canyon Capital Advisors LLC ("CCA")
(ii) Mitchell R. Julis
(iii) Joshua S. Friedman
(iv) R. Christian B. Evensen
CCA is the investment advisor to the following persons:
(i) The Value Realization Fund, L.P. ("VRF")
(ii) The Value Realization Fund B, L.P. ("VRFB")
(iii) The Canyon Value Realization Fund (Cayman), Ltd. ("CVRF")
* Attached as Exhibit A is a copy of an agreement among the persons
filing (as specified hereinabove) that this Schedule 13G is being
filed on behalf of each of them.
---------------------------------------------------------------------
(b) Address of Principal Business Office or, if none, Residence
The principal business office of the persons comprising the group
filing this Schedule 13G is located at 9665 Wilshire Boulevard,
Suite 200, Beverly Hills, CA 90212.
---------------------------------------------------------------------
(c) Citizenship
CCA: a Delaware limited liability company
VRF: a Delaware limited partnership
VRFB: a Delaware limited partnership
CVRF: a Cayman Island corporation
Mitchell R. Julis: United States
Joshua S. Friedman: United States
R. Christian B. Evensen: United States
---------------------------------------------------------------------
(d) Title of Class of Securities
The class of securities beneficially owned by the persons filing
this statement is common stock.
---------------------------------------------------------------------
(e) CUSIP Number
65655 9 101
---------------------------------------------------------------------
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 240.13d-1(b) OR
240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS:
Not applicable as this Schedule 13G is filed pursuant to Rule 13d
1(c).
Page 6 of 8
<PAGE>
ITEM 4. OWNERSHIP
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
The information in items 1 and 5 through 11 on the cover pages (pp.
2 - 5) on this Schedule 13G is hereby incorporated by reference.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the following. /X/
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
CCA is an investment advisor to various managed accounts, including
VRF, VRFB and CVRF, with the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of the securities
held by such accounts. Messrs. Julis, Friedman and Evensen are the sole
general partners of entities which own 100% of CCA.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
Page 7 of 8
<PAGE>
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired and are held in the ordinary
course of business and 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.
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: February 11, 2000
CANYON CAPITAL ADVISORS LLC,
A DELAWARE LIMITED LIABILITY COMPANY
By: /s/ Joshua S. Friedman
--------------------------------
Name: Joshua S. Friedman
Title: Managing Director
JOSHUA S. FRIEDMAN
/s/ Joshua S. Friedman
- -----------------------------
MITCHELL R. JULIS
/s/ Mitchell R. Julis
- -----------------------------
R. CHRISTIAN B. EVENSEN
/s/ R. Christian B. Evensen
- -----------------------------
Page 8 of 8
<PAGE>
EXHIBIT 99A
EXHIBIT A
AGREEMENT REGARDING JOINT FILING
The undersigned hereby agree and consent to the joint filing on their
behalf of this Schedule 13G in connection with their beneficial ownership of the
common stock of Nortek Inc.
Dated: February 11, 2000
CANYON CAPITAL ADVISORS LLC,
A DELAWARE LIMITED LIABILITY COMPANY
By: /s/ Joshua S. Friedman
------------------------------
Name: Joshua S. Friedman
Title: Managing Director
JOSHUA S. FRIEDMAN
/s/ Joshua S. Friedman
- -----------------------------
MITCHELL R. JULIS
/s/ Mitchell R. Julis
- -----------------------------
R. CHRISTIAN B. EVENSEN
/s/ R. Christian B. Evensen
- -----------------------------
EXHIBIT A
