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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Questron Technology, Inc.
(Name of Issuer)
Common Stock, par value $.001 per share
(Title of Class of Securities)
7483720109
(CUSIP Number)
July 6, 1998
(Date of Event Which Required Filing of 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 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).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.
1
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- -------------------------- ----------------------------
CUSIP No. 7483720109 13G Page 2 of 11 Pages
----------- ------ -----
- -------------------------- ----------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mr. Jay R. Petschek
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [ ]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
179,197
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 49,982
OWNED BY
------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 179,197
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
49,982
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
229,179
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[X]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
6.0%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ---------- ---------------------------------------------------------------------
2
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CUSIP No. 7483720109 13G Page 3 of 11 Pages
----------- ----- ------
- --------------------------- ----------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Corsair Management Company, Inc.
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
-0-
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 49,982
OWNED BY
------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
49,982
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
49,982
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[X]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.3%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- ---------- ---------------------------------------------------------------------
3
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- ------------------------- ------------------------------
CUSIP No. 7483720109 13G Page 4 of 11 Pages
----------- ---- ------
- ------------------------- ------------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Corsair Managing Partners
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
-0-
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 49,982
OWNED BY
------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
49,982
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
49,982
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[X]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.3%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ---------- ---------------------------------------------------------------------
4
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Item 1(a). Name of Issuer:
- ---------- ---------------
Questron Technology Inc. (the "Issuer")
Item 1(b). Address of Issuer's Principal Executive
- ---------- ---------------------------------------
Offices:
--------
6400 Congress Avenue
Boca Raton, Florida 33487
Items 2(a) Name of Person Filing; Address of Principal
and (b). Business Office:
This statement is filed on behalf of Mr.
Jay R. Petschek ("Mr. Petschek"),
Corsair Management Company, Inc., a New
York corporation ("Corsair Management"),
and Corsair Managing Partners, a New
York general partnership ("CMP"). Each
of Mr. Petschek, Corsair Management and
CMP has its principal office at 590
Madison Avenue, New York, New York
10022.
This statement relates to shares of
Common Stock (as defined below) held for
the accounts of each of Corsair Capital
Partners, L.P., a Delaware limited
partnership ("Corsair Partners") and
Corsair Capital Partners II, L.P., a
Delaware limited partnership ("Corsair
Partners II").
Mr. Petschek is filing in his capacity
as (a) the sole general partner of
Corsair Partners, and (b) the sole
shareholder of Corsair Management which
is a general partner of CMP (with CMP as
the sole general partner of Corsair
Partners II).
Item 2(c). Citizenship:
- ---------- ------------
United States
Item 2(d). Title of Class of Securities:
- ---------- -----------------------------
Common Stock, par value $.001 per share (the
"Common Stock")
5
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Item 2(e). CUSIP Number:
- ---------- -------------
7483720109
Item 3. If this statement is filed pursuant to
ss.ss.240.13d-1(b) or 240.13d-2(b) or (c),
check whether the person filing is a:
Not Applicable
Item 4(a)-(c). Ownership:
- -------------- ----------
As of the date of this Statement:
(1) Mr. Petschek has beneficial
ownership of 229,179 shares of Common
Stock by virtue of his position as (i)
the sole general partner of Corsair
Partners, which holds 168,397 shares of
Common Stock and warrants exercisable
for 10,800 shares of Common Stock, for
which shares Mr. Petschek has sole
voting power and dispositive power and
(ii) the sole shareholder of Corsair
Management which is a general partner of
CMP (with CMP as the sole general
partner of Corsair Partners II), with
Corsair Partners II holding 46,782
shares of Common Stock and warrants
exercisable for 3,200 shares of Common
Stock, for which shares Mr. Petschek may
be deemed to have shared power to direct
the vote and shared power to direct the
disposition with CMP and Corsair
Management.
(2) Corsair Management has beneficial
ownership of 49,982 shares of Common
Stock by virtue of its position as a
general partner of CMP (which is the
sole general partner of Corsair Partners
II), with Corsair Partners II holding
46,782 shares of Common Stock and
warrant exercisable for 3,200 shares of
Common Stock, for which shares Corsair
Management may be deemed to have shared
power to direct the vote and shared
power to direct the disposition with Mr.
Petschek and CMP.
6
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(3) CMP has beneficial ownership of
49,982 shares of Common Stock by virtue
of its position as the sole general
partner of Corsair Partners II, with
Corsair Partners II holding 46,782
shares of Common Stock and warrants
exercisable for 3,200 shares of Common
Stock, for which shares CMP may be
deemed to have shared power to direct
the vote and shared power to direct the
disposition with Mr. Petschek and
Corsair Management.
The percentages used herein are
calculated based upon the 2,139,783
shares of Common Stock stated to be
issued and outstanding as of May 12,
1998, as reflected in the Company's
Quarterly Report on Form 10-QSB for the
quarterly period ended March 31, 1998
and the 1,653,125 shares of Common Stock
issued upon the conversion of the
Convertible Series B Preferred Stock of
the Company, par value $.01 per share,
on or about July 6, 1998.
Mr. Petschek, Corsair Management and CMP
expressly disclaim beneficial ownership
of any shares of Common Stock not
directly held for the accounts of
Corsair Partners or Corsair Partners II.
Item 5. Ownership of Five Percent or Less of a Class:
- ------- ---------------------------------------------
Not Applicable
Item 6. Ownership of More than Five Percent on
- ------- --------------------------------------
Behalf of Another Person:
-------------------------
Not Applicable
Item 7. Identification and Classification of the
- ------- ----------------------------------------
Subsidiary Which Acquired the Security Being
--------------------------------------------
Reported on By the Parent Holding Company:
------------------------------------------
Not Applicable
7
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Item 8. Identification and Classification of Members
- ------- --------------------------------------------
of the Group:
-------------
Not Applicable.
Item 9. Notice of Dissolution of Group:
- ------- -------------------------------
Not Applicable
Item 10. Certification:
- -------- --------------
By signing below each of the
undersigned certifies that, to the
best of the undersigned's 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.
8
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SIGNATURE
---------
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: July 16, 1998
/s/ Jay R. Petschek
--------------------
Jay R. Petschek
CORSAIR MANAGEMENT COMPANY, INC.
By: /s/ Jay R. Petschek
--------------------
Name: Jay R. Petschek
Title: President
CORSAIR MANAGING PARTNERS
By: Corsair Management
Company, Inc., a general
partner
By: /s/ Jay R. Petschek
--------------------
Name: Jay R. Petschek
Title: President
9
<PAGE>
EXHIBIT INDEX
-------------
Exhibit A: Joint Filing Agreement, dated July 16, 1998,
among the signatories to this Schedule 13G.
10
<PAGE>
Exhibit A
JOINT FILING AGREEMENT
PURSUANT TO RULE 13d-1(k)(1)
The undersigned acknowledge and agree that the foregoing Statement on
Schedule 13G is filed on behalf of each of the undersigned and that all
subsequent amendments to the Statement on Schedule 13G shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
filing agreements. The undersigned acknowledge that each shall be responsible
for the timely filing of such amendments, and for the completeness and accuracy
of the information concerning it contained therein, but shall not be responsible
for the completeness and accuracy of the information concerning the others,
except to the extent that it knows or has reason to believe that such
information is inaccurate. This Agreement may be executed in any number of
counterparts and all of such counterparts taken together shall constitute one
and the same instrument.
By: /s/ Jay R. Petschek
-----------------------
Jay R. Petschek
CORSAIR MANAGEMENT COMPANY, INC.
By: /s/ Jay R. Petschek
-----------------------
Name: Jay R. Petschek
Title: President
CORSAIR MANAGING PARTNERS
By: Corsair Management
Company, Inc., a general
partner
By: /s/ Jay R. Petschek
-----------------------
Name: Jay R. Petschek
Title: President
