UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(Amendment No. __)*
UNDER THE SECURITIES EXCHANGE ACT OF 1934
SPECIALTY PAPERBOARD, INC.
-----------------------------------------
(Name of Issuer)
Common Stock
-----------------------------------------
(Title of Class of Securities)
847504-10-7
-----------------------------------------
(CUSIP Number)
*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 in 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).
Page 1 of 10 pages
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
- --------------------------------------------- ------------------------------------
13G
CUSIP No. 847504-10-7 Page 2 of 10 Pages
- --------------------------------------------- ------------------------------------
- --------- -------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
McCown De Leeuw & Co.
- --------- -------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- -------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -------------------------------------------------------------------------------------------------------------
4 Citizenship or place of organization
California
- --------- -------------------------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 392,832
-------- --------------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY OWNED BY
- 0 -
-------- --------------------------------------------------------------------------------
EACH REPORTING PERSON WITH 7 SOLE DISPOSITIVE POWER
392,832
-------- --------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
- 0 -
- ----------------------------- -------- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
392,832
- --------- -------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------- -------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.73%
- --------- -------------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------- -------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
Page 2 of 10 pages
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
- --------------------------------------------- ------------------------------------
13G
CUSIP No. 847504-10-7 Page 3 of 10 Pages
- --------------------------------------------- ------------------------------------
- --------- -------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
MDC Management Company
- --------- -------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- -------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -------------------------------------------------------------------------------------------------------------
4 Citizenship or place of organization
California
- --------- -------------------------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 452,599
-------- --------------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY OWNED BY
- 0 -
-------- --------------------------------------------------------------------------------
EACH REPORTING PERSON WITH 7 SOLE DISPOSITIVE POWER
452,599
-------- --------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
- 0 -
- ----------------------------- -------- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
452,599
- --------- -------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------- -------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11.20%
- --------- -------------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------- -------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
Page 3 of 10 pages
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
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13G
CUSIP No. 847504-10-7 Page 4 of 10 Pages
- --------------------------------------------- ------------------------------------
- --------- -------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
MDC/JAFCO Ventures, a California limited partnership
- --------- -------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- -------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -------------------------------------------------------------------------------------------------------------
4 Citizenship or place of organization
California
- --------- -------------------------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 58,579
-------- --------------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY OWNED BY
-0-
-------- --------------------------------------------------------------------------------
EACH REPORTING PERSON WITH 7 SOLE DISPOSITIVE POWER
58,579
-------- --------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- ----------------------------- -------- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
58,579
- --------- -------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------- -------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.45%
- --------- -------------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------- -------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
Page 4 of 10 pages
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
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13G
CUSIP No. 847504-10-7 Page 5 of 10 Pages
- --------------------------------------------- ------------------------------------
- --------- -------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
George E. McCown
- --------- -------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- -------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -------------------------------------------------------------------------------------------------------------
4 Citizenship or place of organization
United States
- --------- -------------------------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 32,063
-------- --------------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY OWNED BY
452,599
-------- --------------------------------------------------------------------------------
EACH REPORTING PERSON WITH 7 SOLE DISPOSITIVE POWER
32,063
-------- --------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
452,599
- ----------------------------- -------- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
484,662
- --------- -------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------- -------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11.99%
- --------- -------------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------- -------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
Page 5 of 10 pages
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
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13G
CUSIP No. 847504-10-7 Page 6 of 10 Pages
- --------------------------------------------- ------------------------------------
- --------- -------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
David E. De Leeuw
- --------- -------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- -------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -------------------------------------------------------------------------------------------------------------
4 Citizenship or place of organization
United States
- --------- -------------------------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 24,563
-------- --------------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY OWNED BY
452,599
-------- --------------------------------------------------------------------------------
EACH REPORTING PERSON WITH 7 SOLE DISPOSITIVE POWER
24,563
-------- --------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
452,599
- ----------------------------- -------- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
477,162
- --------- -------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------- -------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11.80%
- --------- -------------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------- -------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
Page 6 of 10 pages
<PAGE>
Item 1.
(a) Name of Issuer: Specialty Paperboard, Inc. ("Issuer")
(b) Address of Issuer's Principal Executive Offices:
Brudies Road
P.O. Box 498
Brattleboro, VT 05302
Item 2.
(a) Name of Person Filing:
McCown De Leeuw & Co. ("MDC")
MDC Management Company ("MDCMC")
MDC/JAFCO Ventures, a California limited partnership ("MDC/JAFCO")
George E. McCown ("McCown")
David E. DeLeeuw ("DeLeeuw")
(b) Address of Principal Business Office:
3000 Sand Hill Road
Building 3, Suite 290
Menlo Park, CA 94025
(c) Citizenship/Place of Organization:
MDC: California
MDCMC: California
MDC/JAFCO: California
McCown: United States
DeLeeuw: United States
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 847504 10 7
Item 3. Not applicable.
Page 7 of 10 pages
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<TABLE>
Item 4 Ownership.
<CAPTION>
- ------ ------------------------ -------------- ----------------- --------------- ----------------- --------------
MDC MDCMC MDC/JAFCO McCown DeLeeuw
- ------ ------------------------ -------------- ----------------- --------------- ----------------- --------------
<S> <C> <C> <C> <C> <C> <C>
(a) Beneficial Ownership 392,832 452,599 58,579 484,662 477,162
- ------ ------------------------ -------------- ----------------- --------------- ----------------- --------------
(b) Percentage of Class 9.73% 11.20% 1.45% 11.99% 11.80%
- ------ ------------------------ -------------- ----------------- --------------- ----------------- --------------
(c) Sole Voting Power 392,832 452,599 58,579 32,063 24,563-
- ------ ------------------------ -------------- ----------------- --------------- ----------------- --------------
Shared Voting Power -0- -0- -0- 452,599 452,599
- ------ ------------------------ -------------- ----------------- --------------- ----------------- --------------
Sole Dispositive Power 392,832 452,599 58,579 32,063 24,563
- ------ ------------------------ -------------- ----------------- --------------- ----------------- --------------
Shared Dispositive -0- -0- -0- 452,599 452,599
Power
- ------ ------------------------ -------------- ----------------- --------------- ----------------- --------------
</TABLE>
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
Under certain circumstances set forth in the partnership agreements of each of
MDC, MDCMC and MDC/JAFCO, the general and/or limited partners of each such
partnership have the right to receive dividends from, or the proceeds from the
sale of, the Common Stock of Issuer beneficially owned by each such partnership.
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
No reporting person is a member of a group as defined in Section
240.13d-1(b)(1)(ii)(H) of the Act.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
Not applicable.
EXHIBITS
A: Joint Filing Statement
Page 8 of 10 pages
<PAGE>
SIGNATURE
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.
Date: February 12, 1997
McCown De Leeuw & Co., California limited partnership
By: MDC Management Company, its general partner
By: /s/ George E. McCown
---------------------------------------
General Partner
MDC Management Company
By: /s/ George E. McCown
-------------------------------------------------
General Partner
MDC/JAFCO Ventures, a California limited partnership
By: MDC Management Company, its general partner
By: /s/ George E. McCown
---------------------------------------
General Partner
/s/ George E. McCown
- ----------------------------------------------------
George E. McCown
/s/ David E. De Leeuw
- ----------------------------------------------------
David E. De Leeuw
Page 9 of 10 pages
<PAGE>
EXHIBIT A
We, the undersigned, hereby express our agreement that the attached
Schedule 13G is filed on behalf of us.
Date: February 12, 1997
McCown De Leeuw & Co., California limited partnership
By: MDC Management Company, its general partner
By: /s/ George E. McCown
------------------------------------------
General Partner
MDC Management Company
By: /s/ George E. McCown
---------------------------------------------------
General Partner
MDC/JAFCO Ventures, a California limited partnership
By: MDC Management Company, its general partner
By: /s/ George E. McCown
-----------------------------------------
General Partner
/s/ George E. McCown
- ------------------------------------------------------
George E. McCown
/s/ David E. De Leeuw
- ------------------------------------------------------
David E. De Leeuw
Page 10 of 10 pages
