INTERLAKE CORP
SC 13D/A, 1999-02-23
PARTITIONS, SHELVG, LOCKERS, & OFFICE & STORE FIXTURES
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                     SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C. 20549

                              ----------------
  
                                SCHEDULE 13D
                               (RULE 13d-101)
  
                             (AMENDMENT NO. 3)
  
         INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
         13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
  
  
                         THE INTERLAKE CORPORATION
    --------------------------------------------------------------------
                              (Name of Issuer)
  

                       COMMON STOCK, $1.00 PAR VALUE
    --------------------------------------------------------------------
                       (Title of Class of Securities)
  

                                458702 10 7
    --------------------------------------------------------------------
                               (CUSIP Number)
  

                               John F. Keane
                             Tinicum Investors
                             990 Stewart Avenue
                        Garden City, New York 11530
                               (516) 222-2874
  

                                  Copy to:

                           Paul T. Schnell, Esq.
                  Skadden, Arps, Slate, Meagher & Flom LLP
                              919 Third Avenue
                          New York, New York 10022
                               (212) 735-3000
    --------------------------------------------------------------------
        (Name, Address and Telephone Number of Person Authorized to
                    Receive Notices and Communications)
  
  
                             FEBRUARY 10, 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 which is the subject of this Schedule 13D, and is
 filing this schedule because of Rule 13d-1(b)(3) or (4), check the
 following box: ( ) 
  
      NOTE: Six copies of this statement, including all exhibits, should be
 filed with the Commission. See Rule 13d-1(a) for other parties to whom
 copies are to be sent. 
  





 CUSIP No. 458702 10 7               13D              
 ---------------------------------------------------------------------------
 1.   NAME OF REPORTING PERSON  
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. 
  
      Tinicum Investors 
      I.R.S. ID No. 13-3800339                      
 ---------------------------------------------------------------------------
 2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  
                                                                   (a) ( ) 
                                                                   (b) ( )
 ---------------------------------------------------------------------------
 3.   SEC USE ONLY 

 ---------------------------------------------------------------------------
 4.   SOURCE OF FUNDS 

 ---------------------------------------------------------------------------
 5.   CHECK BOX 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 - 0           (See Item 5)
   NUMBER OF                                                              
    SHARES              ----------------------------------------------------
 BENEFICIALLY           8.    SHARED VOTING POWER - 0                 
   OWNED BY                                                           
     EACH               ----------------------------------------------------
  REPORTING             9.    SOLE DISPOSITIVE POWER - 0      (See Item 5)
   PERSON                                                                  
    WITH                ----------------------------------------------------
                        10.   SHARED DISPOSITIVE POWER - 0                  
                                         
 ---------------------------------------------------------------------------
 11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 

      0                                                       (See Item 5)
 ---------------------------------------------------------------------------
 12.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES 
                                                                       ( )
 ---------------------------------------------------------------------------
 13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 

      0%
 ---------------------------------------------------------------------------
 14.  TYPE OF REPORTING PERSON 

      PN
 ---------------------------------------------------------------------------



  
 CUSIP No. 458702 10 7               13D              
 ---------------------------------------------------------------------------
 1.   NAME OF REPORTING PERSON  
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. 
  
      Seth M. Hendon 
      S.S. No. ###-##-####                          
 ---------------------------------------------------------------------------
 2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  
                                                                   (a) ( ) 
                                                                   (b) ( )
 ---------------------------------------------------------------------------
 3.   SEC USE ONLY 

 ---------------------------------------------------------------------------
 4.   SOURCE OF FUNDS 
  
 ---------------------------------------------------------------------------
 5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
      ITEMS 2(d) or 2(e) 
                                                                       ( )
 ---------------------------------------------------------------------------
 6.   CITIZENSHIP OR PLACE OF ORGANIZATION 
  
      United States of America
 ---------------------------------------------------------------------------
                        7.    SOLE VOTING POWER - 0           (See Item 5)  
   NUMBER OF                                                                
    SHARES              ----------------------------------------------------
 BENEFICIALLY           8.    SHARED VOTING POWER - 0                       
   OWNED BY                                                                 
    EACH                ----------------------------------------------------
  REPORTING             9.    SOLE DISPOSITIVE POWER - 0       (See Item 5) 
   PERSON                                                                   
    WITH                ----------------------------------------------------
                        10.   SHARED DISPOSITIVE POWER - 0                  
                        
 ---------------------------------------------------------------------------
 11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 

      0                                                       (See Item 5)
 ---------------------------------------------------------------------------
 12.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES 
                                                                       ( )
 ---------------------------------------------------------------------------
 13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 

      0%
 ---------------------------------------------------------------------------
 14.  TYPE OF REPORTING PERSON 

      IN
 ---------------------------------------------------------------------------



  
 CUSIP No. 458702 10 7               13D              
 ---------------------------------------------------------------------------
 1.   NAME OF REPORTING PERSON  
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. 
  
      Robert J. Kelly 
      S.S. No. ###-##-####                          
 ---------------------------------------------------------------------------
 2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  
                                                                   (a) ( ) 
                                                                   (b) ( )
 ---------------------------------------------------------------------------
 3.   SEC USE ONLY 

 ---------------------------------------------------------------------------
 4.   SOURCE OF FUNDS 
  
 ---------------------------------------------------------------------------
 5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
      ITEMS 2(d) or 2(e) 
                                                                       ( )
 ---------------------------------------------------------------------------
 6.   CITIZENSHIP OR PLACE OF ORGANIZATION 
  
      United States of America
 ---------------------------------------------------------------------------
                        7.   SOLE VOTING POWER - 0            (See Item 5)  
   NUMBER OF                                                                
    SHARES              ----------------------------------------------------
 BENEFICIALLY           8.     SHARED VOTING POWER - 0                      
   OWNED BY                                                                 
     EACH               ----------------------------------------------------
  REPORTING             9.     SOLE DISPOSITIVE POWER -  0    (See Item 5) 
    PERSON                                                                  
     WITH               ----------------------------------------------------
                        10.    SHARED DISPOSITIVE POWER - 0                 
                                         
 ---------------------------------------------------------------------------
 11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 

      0                                                       (See Item 5)
 ---------------------------------------------------------------------------
 12.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES 
                                                                       ( )
 ---------------------------------------------------------------------------
 13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 
 
      0%
 ---------------------------------------------------------------------------
 14.  TYPE OF REPORTING PERSON 

      IN
 ---------------------------------------------------------------------------



  
 CUSIP No. 458702 10 7               13D             
 ---------------------------------------------------------------------------
 1.   NAME OF REPORTING PERSON  
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. 
  
      Edward R. Civello 
      S.S. No. ###-##-####                          
 ---------------------------------------------------------------------------
 2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  
                                                                   (a) ( )
                                                                   (b) ( )
 ---------------------------------------------------------------------------
 3.   SEC USE ONLY 

 ---------------------------------------------------------------------------
 4.   SOURCE OF FUNDS 
  
      PF
 ---------------------------------------------------------------------------
 5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
      ITEMS 2(d) or 2(e) 
                                                                       ( )
 ---------------------------------------------------------------------------
 6.   CITIZENSHIP OR PLACE OF ORGANIZATION 
  
      United States of America
 ---------------------------------------------------------------------------
                        7.    SOLE VOTING POWER - 0           (See Item 5)  
   NUMBER OF                                                                
    SHARES              ----------------------------------------------------
 BENEFICIALLY           8.    SHARED VOTING POWER - 0                       
   OWNED BY                                                                 
     EACH               ----------------------------------------------------
  REPORTING             9.    SOLE DISPOSITIVE POWER - 0      (See Item 5)  
    PERSON                                                                  
     WITH               ----------------------------------------------------
                        10.   SHARED DISPOSITIVE POWER - 0                  
                                         
 ---------------------------------------------------------------------------
 11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 

      0                                                       (See Item 5)
 ---------------------------------------------------------------------------
 12.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES 
                                                                       ( )
 ---------------------------------------------------------------------------
 13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 

      0%
 ---------------------------------------------------------------------------
 14.  TYPE OF REPORTING PERSON 

      IN
 ---------------------------------------------------------------------------



  
 CUSIP No. 458702 10 7               13D              
 ---------------------------------------------------------------------------
 1.   NAME OF REPORTING PERSON  
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. 
  
      Joseph A. Marino 
      S.S. No. ###-##-####                          
 ---------------------------------------------------------------------------
 2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  
                                                                   (a) ( ) 
                                                                   (b) ( )
 ---------------------------------------------------------------------------
 3.   SEC USE ONLY 

 ---------------------------------------------------------------------------
 4.   SOURCE OF FUNDS 
  
      PF
 ---------------------------------------------------------------------------
 5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
      ITEMS 2(d) or 2(e) 
                                                                       ( )
 ---------------------------------------------------------------------------
 6.   CITIZENSHIP OR PLACE OF ORGANIZATION 
  
      United States of America
 ---------------------------------------------------------------------------
                        7.     SOLE VOTING POWER - 0          (See Item 5)  
  NUMBER OF                                                                 
   SHARES               ----------------------------------------------------
 BENEFICIALLY           8.     SHARED VOTING POWER - 0                      
   OWNED BY                                                                 
    EACH                ----------------------------------------------------
  REPORTING             9.     SOLE DISPOSITIVE POWER - 0     (See Item 5)  
   PERSON                                                                   
    WITH                ----------------------------------------------------
                        10.    SHARED DISPOSITIVE POWER - 0                 
                        
 ---------------------------------------------------------------------------
 11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 

      0                                                       (See Item 5)
 ---------------------------------------------------------------------------
 12.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES 
                                                                       ( )
 ---------------------------------------------------------------------------
 13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 

      0%
 ---------------------------------------------------------------------------
 14.  TYPE OF REPORTING PERSON 

      IN
 ---------------------------------------------------------------------------



  
 CUSIP No. 458702 10 7               13D              
 ---------------------------------------------------------------------------
 1.   NAME OF REPORTING PERSON  
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. 
  
      John F. Keane 
      S.S. No. ###-##-####                          
 ---------------------------------------------------------------------------
 2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  
                                                                   (a) ( ) 
                                                                   (b) ( )
 ---------------------------------------------------------------------------
 3.   SEC USE ONLY 

 ---------------------------------------------------------------------------
 4.   SOURCE OF FUNDS 
  
      PF
 ---------------------------------------------------------------------------
 5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
      ITEMS 2(d) or 2(e) 
                                                                       ( )
 ---------------------------------------------------------------------------
 6.   CITIZENSHIP OR PLACE OF ORGANIZATION 
  
      United States of America
 ---------------------------------------------------------------------------
                        7.     SOLE VOTING POWER - 0          (See Item 5)  
   NUMBER OF                                                                
    SHARES              ----------------------------------------------------
 BENEFICIALLY           8.     SHARED VOTING POWER - 0                      
   OWNED BY                                                                 
    EACH                ----------------------------------------------------
  REPORTING             9.     SOLE DISPOSITIVE POWER -  0    (See Item 5)  
   PERSON                                                                   
    WITH                ----------------------------------------------------
                        10.    SHARED DISPOSITIVE POWER - 0                 
                        
 ---------------------------------------------------------------------------
 11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 

      0                                                       (See Item 5)
 ---------------------------------------------------------------------------
 12.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES 
                                                                       ( )
 ---------------------------------------------------------------------------
 13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 

      0%
 ---------------------------------------------------------------------------
 14.  TYPE OF REPORTING PERSON 

      IN
 ---------------------------------------------------------------------------



  
 CUSIP No. 458702 10 7               13D              
 ---------------------------------------------------------------------------
 1.   NAME OF REPORTING PERSON  
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. 
  
      Putnam L. Crafts, Jr. 
      S.S. No. ###-##-####                          
 ---------------------------------------------------------------------------
 2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  
                                                                   (a) ( ) 
                                                                   (b) ( )
 ---------------------------------------------------------------------------
 3.   SEC USE ONLY 

 ---------------------------------------------------------------------------
 4.   SOURCE OF FUNDS 
  
 ---------------------------------------------------------------------------
 5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
      ITEMS 2(d) or 2(e) 
                                                                       ( )
 ---------------------------------------------------------------------------
 6.   CITIZENSHIP OR PLACE OF ORGANIZATION 
  
      United States of America
 ---------------------------------------------------------------------------
                        7.     SOLE VOTING POWER -  0         (See Item 5)  
  NUMBER OF                                                                 
   SHARES               ----------------------------------------------------
 BENEFICIALLY           8.     SHARED VOTING POWER - 0                      
   OWNED BY                                                                 
    EACH                ----------------------------------------------------
  REPORTING             9.     SOLE DISPOSITIVE POWER -  0     (See Item 5) 
   PERSON                                                                   
    WITH                ----------------------------------------------------
                        10.    SHARED DISPOSITIVE POWER - 0                 
                                         
 ---------------------------------------------------------------------------
 11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 

      0                                                       (See Item 5)
 ---------------------------------------------------------------------------
 12.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES 
                                                                       ( )
 ---------------------------------------------------------------------------
 13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 

      0%
 ---------------------------------------------------------------------------
 14.  TYPE OF REPORTING PERSON 

      IN
 ---------------------------------------------------------------------------



 ITEM 1.   SECURITY AND ISSUER 
  
      This statement amends and supplements the Statement on Schedule 13D
 filed with the U.S. Securities and Exchange Commission on July 27, 1998, as
 amended on August 18, 1998 and on October 5, 1998 (the "Schedule 13D"), by
 Tinicum Investors, Seth M. Hendon, Robert J. Kelly, Edward R. Civello,
 Joseph A. Marino, John F. Keane, and Putnam L. Crafts, Jr., relating to
 shares of common stock, $1.00 par value (the "Shares"), of The Interlake
 Corporation, a Delaware corporation (the "Issuer").  All capitalized terms
 used herein but not otherwise defined herein shall have the meanings
 ascribed to such terms in the Schedule 13D. 
  
 ITEM 5.   INTEREST IN SECURITIES OF THE ISSUER. 
  
      Item 5 is hereby amended and supplemented by adding the following: 
  
      (a)  As of the date hereof, none of Investors, Mr. Hendon, Mr. Kelly,
 Mr. Civello, Mr. Marino, Mr. Keane and Mr. Crafts have direct beneficial
 ownership of any Shares. 
  
      (b)  Not applicable. 
  
      (c)  On February 10, 1999, each of Investors, Mr. Hendon, Mr. Kelly,
 and Mr. Crafts transferred all of the Shares of which they had direct
 beneficial ownership (in the aggregate, 3,235,700 Shares, constituting
 approximately 9.4% of the 34,274,104 Shares outstanding as reported in the
 Issuer's Form 8-K dated February 5, 1999) to a related entity, Tinicum
 Capital Partners, L.P., a Delaware limited partnership, which itself
 transferred on February 10, 1999, 3,235,700 Shares to GKN North America
 Manufacturing, Inc. at a purchase price in cash of $7.25 per Share. 
  
      (d)  Not applicable. 
  
      (e)  On February 10, 1999, the Reporting Persons ceased to be 5%
 holders of the Issuer's outstanding common stock. 



                                 SIGNATURE 
  
      After reasonable inquiry and to the best of its knowledge and belief,
 the undersigned certifies that the information set forth in this statement
 is true, complete and correct. 
  
 Dated:    February 23, 1999 
  
  
                                              TINICUM INVESTORS 
  
                                                                        
                                              By:  /s/ Eric M. Ruttenberg    
                                                 ---------------------------
                                                 Name:  Eric M. Ruttenberg 
                                                 Title: General Partner




                                 SIGNATURE 
  
      After reasonable inquiry and to the best of his knowledge and belief,
 the undersigned certifies that the information set forth in this statement
 is true, complete and correct. 
  
 Dated:    February 23, 1999 
  
  
                                              /s/ Seth M. Hendon
                                              -----------------------------
                                              SETH M. HENDON 




                                 SIGNATURE 
  
      After reasonable inquiry and to the best of his knowledge and belief,
 the undersigned certifies that the information set forth in this statement
 is true, complete and correct. 
  
 Dated:    February 23, 1999 
  
  
                                              /s/ Robert J. Kelly
                                              -----------------------------
                                              ROBERT J. KELLY 




                                 SIGNATURE 
  
      After reasonable inquiry and to the best of his knowledge and belief,
 the undersigned certifies that the information set forth in this statement
 is true, complete and correct. 
  
 Dated:    February 23, 1999 
  
  
                                              /s/ Edward R. Civello
                                              -----------------------------
                                              EDWARD R. CIVELLO




                                 SIGNATURE 
  
      After reasonable inquiry and to the best of his knowledge and belief,
 the undersigned certifies that the information set forth in this statement
 is true, complete and correct. 
  
 Dated:    February 23, 1999 
  
  
                                              /s/ Joseph A. Marino
                                              -----------------------------
                                              JOSEPH A. MARINO




                                 SIGNATURE 
  
      After reasonable inquiry and to the best of his knowledge and belief,
 the undersigned certifies that the information set forth in this statement
 is true, complete and correct. 
  
 Dated:    February 23, 1999 
  
  
                                              /s/ John F. Keane
                                              -----------------------------
                                              JOHN F. KEANE 




                                  SIGNATURE 
  
      After reasonable inquiry and to the best of his knowledge and belief,
 the undersigned certifies that the information set forth in this statement
 is true, complete and correct. 
  
 Dated:    February 23, 1999 
  
  
                                              /s/ Putnam L. Crafts, Jr.
                                              -----------------------------
                                              PUTNAM L. CRAFTS, JR. 




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