<PAGE> 1
----------------------------
OMB APPROVAL
OMB Number: 3235-0145
Expires: December 31, 1997
Estimated average burden
hours per response. . .14.90
----------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1 )*
PAREXEL International Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
699462 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> 2
- ------------------------- ------------------------------
CUSIP NO. 699462 10 7 13G PAGE 2 OF 11 PAGES
----------- --- ----
- ------------------------- ------------------------------
SCHEDULE 13G
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Essex Venture Partners, L.P. Fund I
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 11 pages
<PAGE> 3
- ------------------------- ------------------------------
CUSIP NO. 699462 10 7 13G PAGE 3 OF 11 PAGES
----------- --- ----
- ------------------------- ------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Essex Venture Management, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 11 pages
<PAGE> 4
- ------------------------- ------------------------------
CUSIP NO. 699462 10 7 13G PAGE 4 OF 11 PAGES
----------- --- ----
- ------------------------- ------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James L. Currie
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
21,333
NUMBER OF -------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 21,333
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,333
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
Less than 5%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 11 pages
<PAGE> 5
- ------------------------- ------------------------------
CUSIP NO. 13G PAGE 5 OF 11 PAGES
----------- --- ----
- ------------------------- ------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Marc S. Sandroff
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 11 pages
<PAGE> 6
NOTE: This Statement on Schedule 13G is being filed on behalf of (i) Essex
Venture Partners, L.P., Fund I, an Illinois limited partnership; (ii) Essex
Venture Management, L.P., a Delaware limited partnership; (iii) James L. Currie;
and (iv) Marc S. Sandroff.
ITEM 1.
(a) NAME OF ISSUER
--------------
PAREXEL International Corporation
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
-----------------------------------------------
195 West Street
Waltham, MA 02154
ITEM 2.
ITEM 2(a) ITEM 2(b) ITEM 2(c)
--------- --------- ---------
NAME OF PERSON FILING ADDRESS CITIZENSHIP
--------------------- ------- -----------
OR PLACE OF
-----------
ORGANIZATION
------------
Essex Venture Partners, L.P. Fund I 190 South LaSalle St. Illinois
("Essex") Chicago, IL 60603
Essex Venture Management, L.P. 190 South LaSalle St. Delaware
the general partner of Essex Chicago, IL 60603
("Venture")
James L. Currie, the managing 190 South LaSalle St. United States
general partner of Venture Chicago, IL 60603
Marc S. Sandroff, a general partner 190 South LaSalle St. United States
of Venture Chicago, IL 60603
ITEM 2(d).
TITLE OF CLASS OF SECURITIES
----------------------------
Common Stock, $.01 par value
Page 6 of 11 pages
<PAGE> 7
ITEM 2(e).
CUSIP NUMBER
------------
699462 10 7
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR 13(d)-2(b),
--------------------------------------------------------------------
CHECK WHETHER THE PERSON FILING IS A:
-------------------------------------
(a) --- Broker or Dealer registered under Section 15 of the
Securities Exchange act of 1934 ("the Act").
(b) --- Bank as defined in Section 3(a)(6) of the Act.
(c) --- Insurance Company as defined in Section 3(a)(19) of the
Act.
(d) --- Investment Company registered under Section 8 of the
Investment Company Act of 1940.
(e) --- Investment adviser registered under Section 203 of the
Investment Advisers Act of 1940.
(f) --- Employee Benefit Plan, Pension Fund which is subject
to the provision of the Employee Retirement Income
Security Act of 1974 or endowment Fund; see Rule
13-d(b)(1)(ii)(F) of the Act.
(g) --- Parent Holding company, in accordance with Rule
13(d)-1(b)(ii)(G) of the Act.
(h) --- Group, in accordance with rule 13d-1(b)(ii)(H) of the
Act.
None of the above.
ITEM 4. OWNERSHIP.
----------
(a) AMOUNT BENEFICIALLY OWNED
-------------------------
As of December 31, 1996, each of the following is the holder of record
of the number of shares of Common Stock set forth next to his or its name.
Essex 0 shares
Venture 0 shares
Mr. Currie 21,333 shares
Mr. Sandroff 0 shares
(b) PERCENT OF CLASS
----------------
Essex Less than 5%
Venture Less than 5%
Mr. Currie Less than 5%
Page 7 of 11 pages
<PAGE> 8
Mr. Sandroff Less than 5%
(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
---------------------------------------------
(i) sole power to vote or direct the vote:
--------------------------------------
Essex 0
Venture 0
Mr. Currie 21,333
Mr. Sandroff 0
(ii) shared power to vote or direct the vote:
----------------------------------------
Essex 0
Venture 0
Mr. Currie 0
Mr. Sandroff 0
(iii) sole power to dispose or to direct the disposition of:
------------------------------------------------------
Essex 0
Venture 0
Mr. Currie 21,333
Mr. Sandroff 0
(iv) shared power to dispose or to direct the disposition of:
--------------------------------------------------------
Essex 0
Venture 0
Mr. Currie 0
Mr. Sandroff 0
Each of Essex, Venture and Messrs. Currie and Sandroff expressly disclaims
beneficial ownership of any shares of Common Stock of PAREXEL International
Corporation, except any shares held directly of record or any shares in which
they have an actual pecuniary interest.
Page 8 of 11 pages
<PAGE> 9
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]
Each of the reporting persons have ceased to own beneficially more than 5%
of the Common Stock of PAREXEL International Corporation.
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.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBER OF THE GROUP.
---------------------------------------------------------
Not applicable. Essex, Venture and Messrs. Currie and Sandroff
expressly disclaim membership in a "group" as defined in
Rule 13d-1(b)(1)(ii)(H).
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
-------------------------------
Not applicable.
ITEM 10. CERTIFICATION.
----------------
Not applicable. This statement on Schedule 13G is not filed
pursuant to Rule 13d-1(b).
Attached as Exhibit 1 hereto is a Joint Filing Agreement executed by each
of the filing persons pursuant to Rule 13-1(f) under Section 13(d) of the Act.
Page 9 of 11 pages
<PAGE> 10
SIGNATURE
---------
After reasonable inquiry and to the best of his or its knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: February 12, 1997
ESSEX VENTURE PARTNERS, L.P. FUND I
By: Essex Venture Management, L.P.
By: /s/ James L. Currie
-----------------------------
James L. Currie
Managing General Partner
ESSEX VENTURE MANAGEMENT, L.P.
By: /s/ James L. Currie
------------------------------
James L. Currie
Managing General Partner
/s/ James L. Currie
- ---------------------
James L. Currie
/s/ Marc s. Sandroff
- ---------------------
Marc S. Sandroff
Page 10 of 11 pages
<PAGE> 11
EXHIBIT 1
---------
JOINT FILING AGREEMENTS OF
ESSEX VENTURE PARTNERS, L.P. FUND I,
ESSEX VENTURE MANAGEMENT, L.P.
JAMES L. CURRIE AND
MARC S. SANDROFF
The undersigned hereby agree that the Schedule 13G with respect to the
securities of PAREXEL International Corporation, dated as of even date herewith
is filed on behalf of each of us pursuant to and in accordance with the
provisions of Rule 13d-1(f) under the Securities Exchange Act of 1934, as
amended.
Dated: February 12, 1997
ESSEX VENTURE PARTNERS, L.P. FUND I
By: /s/ James L. Currie
-----------------------------
James L. Currie
Managing General Partner
ESSEX VENTURE MANAGEMENT, L.P.
By: /s/ James L. Currie
-----------------------------
James L. Currie
Managing General Partner
/s/ James L. Currie
- ----------------------
James L. Currie
/s/ Marc S. Sandroff
- ----------------------
Marc S. Sandroff
Page 11 of 11 pages
