SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
UNDER THE SECURITIES AND EXCHANGE ACT OF 1934
(AMENDMENT NO. 11)*
ATLANTIS PLASTICS, INC.
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(Name of Issuer)
CLASS A COMMON STOCK, $.10 PAR VALUE
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(Title of Class of Securities)
049156102
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(CUSIP Number)
DECEMBER 31, 1998
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(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)
[ ] Rule 13d-1(c)
[x] Rule 13d-1(d)
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*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 9 Pages
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CUSIP NO. 049156102 SCHEDULE 13G PAGE 2 OF 9 PAGES
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
EARL W. POWELL
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
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5 SOLE VOTING POWER 1,112,637(1)
--------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER 1,568,163(1)
SHARES
BENEFICIALLY --------------------------------------------------
OWNED BY
EACH 7 SOLE DISPOSITIVE POWER 1,112,637(1)
REPORTING --------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER 1,568,163(1)
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,680,800(1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
[X](2)
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
39.7%(1)
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12 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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(1) See Item 4 herein.
(2) The aggregate amount in Row 9 does not include 1,790 shares of Class A
Common Stock owned of record by the Reporting Person's spouse (in such
spouse's Individual Retirement Account), with respect to which the Reporting
Person disclaims beneficial ownership.
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CUSIP NO. 049156102 SCHEDULE 13G PAGE 3 OF 9 PAGES
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
PHILLIP T. GEORGE, M.D.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
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5 SOLE VOTING POWER
994,291(1)
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NUMBER OF 6 SHARED VOTING POWER
SHARES 1,568,163(1)
BENEFICIALLY --------------------------------------------------
OWNED BY 7 SOLE DISPOSITIVE POWER 994,291(1)
EACH
REPORTING --------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER 1,568,163(1)
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,562,454(1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
39.0%(1)
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12 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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(1) See Item 4 herein.
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CUSIP NO. 049156102 SCHEDULE 13G PAGE 4 OF 9 PAGES
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
TRIAD CAPITAL FUND
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
STATE OF ILLINOIS
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5 SOLE VOTING POWER - 0 -
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NUMBER OF 6 SHARED VOTING POWER 1,554,385(1)
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY
EACH 7 SOLE DISPOSITIVE POWER - 0 -
REPORTING -------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER 1,554,385(1)
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,554,385(1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
NOT APPLICABLE [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
26.5%(1)
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12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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(1) See Item 4 herein.
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CUSIP NO. 049156102 SCHEDULE 13G PAGE 5 OF 9 PAGES
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ITEM 1(A). NAME OF ISSUER.
Atlantic Plastics, Inc.
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES.
1870 The Exchange
Suite 200
Atlanta, Georgia 30339
ITEM 2(A). NAME OF PERSON FILING.
This statement is filed on behalf of Earl W. Powell, Phillip T.
George, M.D., and Triad Capital Fund (individually, a "Reporting
Person," and collectively, the "Reporting Persons"). See Exhibit
A for the Reporting Persons' agreement for a joint filing of a
single statement on their behalf.
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE.
The address of the principal business office for each Reporting
Person is:
2665 South Bayshore Drive, Suite 800
Miami, Florida 33133
ITEM 2(C). CITIZENSHIP.
Each of Earl W. Powell and Phillip T. George, M.D. is a citizen
of the United States of America.
Triad Capital Fund was organized under the laws of the State of
Illinois.
ITEM 2(D). TITLE OF CLASS OF SECURITIES.
Class A Common Stock
ITEM 2(E). CUSIP NUMBER.
049156102
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR
13D-2(B) OR (C), IDENTIFY THE STATUS OF THE PERSON FILING.
Not applicable.
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CUSIP NO. 049156102 SCHEDULE 13G PAGE 6 OF 9 PAGES
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ITEM 4. OWNERSHIP.
<TABLE>
<CAPTION>
AMOUNT
REPORTING PERSON BENEFICIALLY OWNED(1) PERCENT OF CLASS(1)(2)
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<S> <C> <C>
Earl W. Powell 2,680,800(3)(4) 39.7%(5)
Phillip T. George, M.D. 2,562,454(4)(6) 39.0%(7)
Triad Capital Fund 1,554,385(8) 26.5%(9)
POWER TO VOTE POWER TO DISPOSE
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REPORTING PERSON SOLE SHARED SOLE SHARED
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Earl W. Powell 1,112,637(3) 1,568,163(4) 1,112,637(3) 1,568,163(4)
Phillip T. George, M.D. 994,291(6) 1,568,163(4) 994,291(6) 1,568,163(4)
Triad Capital Fund 0 1,554,385(8) 0 1,554,385(8)
</TABLE>
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(1) The number of shares and percentage of Class A Common Stock includes
shares to which such Reporting Person has the right to acquire
beneficial ownership as specified in Rule 13d-3(d)(1) of the Act. Each
share of Class B Common Stock is convertible at the election of the
holder thereof into one share of Class A Common Stock.
(2) Calculated on the basis of 4,538,054 shares of Class A Common Stock
outstanding on December 31, 1998.
(3) Includes (i) 235,178 shares of Class A Common Stock directly owned by
the Reporting Person; (ii) 717,834 shares of Class A Common Stock
issuable upon conversion of Class B Common Stock directly owned by the
Reporting Person; and (iii) 159,625 shares of Class A Common Stock
issuable upon exercise of options that are either immediately
exercisable or exercisable within 60 days.
(4) Includes the shares of Class A Common Stock and Class B Common Stock
directly owned by Triad Capital Fund ("Triad") and Trivest of Florida,
Ltd., a Florida limited partnership ("Trivest of Florida"). Trivest of
Florida is the general partner of Triad. Trivest, Inc., a Delaware
corporation ("Trivest"), is the general partner of Trivest of Florida.
Mr. Powell, President and Chief Executive Officer of Trivest, and Dr.
George, Chairman of the Board of Trivest, own 100 percent of Trivest's
outstanding common stock. Triad is the record owner of 221,353 shares of
Class A Common Stock and 1,333,032 shares of Class B Common Stock;
Trivest of Florida is the record owner of 1,279 shares of Class A Common
Stock and 12,499 shares of Class B Common Stock.
(5) Assuming the issuance of (i) 2,063,365 shares of Class A Common Stock
upon conversion of all the Class B Common Stock beneficially owned by
the Reporting Person and (ii) 159,625 shares of Class A Common Stock
upon exercise of options that are either immediately exercisable or
exercisable within 60 days.
(6) Includes (i) 241,833 shares of Class A Common Stock directly owned by
the Reporting Person; (ii) 61,764 shares of Class A Common Stock held of
record by the Reporting Person as custodian for his minor children under
the Florida Uniform Gifts to Minors Act (with respect to which the
Reporting Person disclaims beneficial ownership); (iii) 608,319 shares
of Class A Common Stock issuable upon conversion of Class B Common Stock
directly owned by the Reporting Person; and (iv) 82,375 shares of Class
A Common Stock issuable upon exercise of options that are either
immediately exercisable or exercisable within 60 days.
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CUSIP NO. 049156102 SCHEDULE 13G PAGE 7 OF 9 PAGES
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(7) Assuming the issuance of (i) 1,953,850 shares of Class A Common Stock
upon conversion of all the Class B Common Stock beneficially owned by
the Reporting Person; and (ii) 82,375 shares of Class A Common Stock
upon exercise of options that are either immediately exercisable or
exercisable within 60 days.
(8) The Reporting Person owns of record and has shared power to vote and
dispose of 221,353 shares of Class A Common Stock and 1,333,032 shares
of Class B Common Stock.
(9) Assuming the issuance of 1,333,032 shares of Class A Common Stock upon
conversion of all the Class B Common Stock beneficially owned by the
Reporting Person.
Mr. Powell and Dr. George beneficially own, directly or indirectly
(through their shared control of Triad and Trivest of Florida), in the
aggregate, 3,675,091 shares of Class A Common Stock (after giving effect to
conversion of Class B Common Stock and exercise of options), representing 49.3%
of the Class A Common Stock (after giving effect to conversion of Class B Common
Stock and exercise of options). Mr. Powell and Dr. George may be deemed
controlling persons of the Issuer by virtue of their direct and indirect
beneficial ownership of Class A Common Stock as well as by virtue of their
serving as the Issuer's Chairman and Vice Chairman of the Board, respectively.
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. [ ]
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 MEMBERS OF THE GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
ITEM 10. CERTIFICATION.
Not Applicable.
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CUSIP NO. 049156102 SCHEDULE 13G PAGE 8 OF 9 PAGES
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SIGNATURES
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.
February 5, 1999 /s/ EARL W. POWELL
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Earl W. Powell
/s/ PHILLIP T. GEORGE, M.D.
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Phillip T. George, M.D.
TRIAD CAPITAL FUND
By: Trivest of Florida, Ltd.,
General Partner
By: Trivest, Inc.,
General Partner
By: /s/ B. JAY ANDERSON
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B. Jay Anderson
Vice President
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CUSIP NO. 049156102 SCHEDULE 13G PAGE 9 OF 9 PAGES
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EXHIBIT A
AGREEMENT TO FILE JOINT SCHEDULE 13G
Pursuant to Rule 13d-1(k)(1), the undersigned hereby consent to the
joint filing of a single statement on their behalf.
February 5, 1999 /s/ EARL W. POWELL
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Earl W. Powell
/s/ PHILLIP T. GEORGE, M.D.
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Phillip T. George, M.D.
TRIAD CAPITAL FUND
By: Trivest of Florida, Ltd.,
General Partner
By: Trivest, Inc.,
General Partner
By:/s/ B. JAY ANDERSON
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B. Jay Anderson
Vice President
