SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)
NutraMax Products, Inc.
-----------------------
(Name of Issuer)
Common Stock, par value $.001 per share
---------------------------------------
(Title of Class of Securities)
67061A30
---------------
(CUSIP Number)
David M. Schulte
Chilmark Fund II, L.P.
875 North Michigan Avenue
Chicago, Illinois 60611
(312) 984-9711
-------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 4, 1997
----------------
(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 [ ].
Page 1 of 11 Pages
Exhibit Index Appears on Page 10
<PAGE>
SCHEDULE 13D
CUSIP NO. 67061A30
--------
- --------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Cape Ann Investors, L.L.C.
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [___]
(b) [ x ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------
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
NUMBER OF None
SHARES ----------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,003,168
EACH ----------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON None
WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,003,168
- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,003,168
- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [___]
- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.9%
- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
Page 2 of 11 Pages
<PAGE>
SCHEDULE 13D
CUSIP NO. 67061A30
--------
- --------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Chilmark Fund II, L.P.
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [___]
(b) [ x ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------
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
NUMBER OF None
SHARES ----------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,008,168
EACH ----------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON None
WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,008,168
- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,008,168
- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [___]
- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.9%
- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
Page 3 of 11 Pages
<PAGE>
SCHEDULE 13D
CUSIP NO. 67061A30
--------
- --------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Chilmark II, L.L.C.
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [___]
(b) [ x ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------
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
NUMBER OF None
SHARES ----------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,008,168
EACH ----------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON None
WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,008,168
- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,008,168
- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [___]
- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.9%
- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
Page 4 of 11 Pages
<PAGE>
SCHEDULE 13D
CUSIP NO. 67061A30
--------
- --------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Chilmark Partners, L.L.C.
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [___]
(b) [ x ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------
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
NUMBER OF None
SHARES ----------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,008,168
EACH ----------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON None
WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,008,168
- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,008,168
- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [___]
- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.9%
- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
Page 5 of 11 Pages
<PAGE>
SCHEDULE 13D
CUSIP NO. 67061A30
--------
- --------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David M. Schulte
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [___]
(b) [ x ]
- --------------------------------------------------------------------------
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
USA
- --------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF None
SHARES ----------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,008,168
EACH ----------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON None
WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,008,168
- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,008,168
- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [___]
- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.9%
- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
Page 6 of 11 Pages
<PAGE>
This Amendment No. 2 (this "Amendment") amends and
supplements the Schedule 13D filed on September 22, 1997, as
previously amended (the "Schedule 13D"), by Cape Ann Investors,
L.L.C. ("Cape Ann"), Chilmark Fund II, L.P. ("Chilmark Fund"),
Chilmark II, L.L.C. ("Chilmark II"), Chilmark Partners, L.L.C.
("Chilmark Partners") and David M. Schulte (collectively, the
"Reporting Persons") with respect to the Common Stock, par value
$.001 per share ("Common Stock"), of NutraMax Products, Inc. (the
"Issuer").
Item 3. Source and Amount of Funds or Other Consideration.
Cape Ann acquired the 193,014 additional shares of
Common Stock to which this Amendment relates on December 4, 1997,
pursuant to the October Agreement, as amended by Amendment No. 1,
dated as of October 16, 1997 (the "Amendment to October
Agreement"), between the Issuer and Cape Ann. A copy of the
Amendment to October Agreement is attached hereto as Exhibit 6
and is incorporated herein by reference. The source of the
$2,460,928.50 used to acquire such shares was capital
contributions from the members of Cape Ann.
Item 4. Purpose of Transaction.
On December 4, 1997, Cape Ann consummated the
previously disclosed purchase of 193,014 additional shares of
Common Stock from the Issuer pursuant to the October Agreement as
amended by the Amendment to October Agreement.
The Reporting Persons intend to continue to review
their investment in Common Stock and, from time to time depending
upon certain factors, including without limitation the financial
performance of the Issuer, the availability and price of shares
of Common Stock, other general economic, market and investment
conditions and options available to them, may determine to
acquire through open market purchases or otherwise additional
shares of Common Stock, or may determine to sell through the open
market or otherwise, in each case, subject to applicable law and
the limitations of the October Agreement and the Agreement
previously described in the Schedule 13D.
Except as stated above, no Reporting Person has any
plans or proposals of the type referred to in clauses (a) through
(j) of Item 4 of Schedule 13D, as promulgated by the Securities
and Exchange Commission.
Item 5. Interest in Securities of the Issuer.
(a) and (b) As of the date hereof, the Reporting
Persons beneficially own 1,008,168 shares of Common Stock
(1,003,168, in the case of Cape Ann). To the best knowledge of
the Reporting Persons, there are 5,619,768 shares of Common Stock
outstanding. The 1,008,168 shares beneficially owned by the
Reporting Persons represent approximately 17.9% of the Common
Stock issued and outstanding. Subject to the limitations of the
Agreement, the Reporting Persons share the power to vote or to
direct the vote of, and the power to dispose or to direct the
disposition of, the Common Stock beneficially owned by them
(except that Cape Ann does not share such powers with respect to
the 5,000 shares of Common Stock held directly by Chilmark Fund).
Page 7 of 11 Pages
<PAGE>
(c) During the last sixty days, the only transaction
in Common Stock effected by the Reporting Persons (or, to the best
knowledge of the Reporting Persons, any of the persons listed in
Appendix A to the Schedule 13D) was the purchase, on December 4,
1997, by Cape Ann of 193,014 shares of Common Stock from the
Issuer at a price of $12.75 per share, or an aggregate of
$2,460,928.50.
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
As described above, Cape Ann is a party to the
Amendment to October Agreement, a copy of which is attached
hereto as Exhibit 6 and is incorporated herein by reference.
Item 7. Material to be Filed as Exhibits.
Exhibit 6 - Amendment to October Agreement.
Page 8 of 11 Pages
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in the statement
is true, complete and correct.
Dated: December 5, 1997
Cape Ann Investors, L.L.C.
By: /s/ David Schulte
-----------------------
Name: David Schulte
Title: President
Chilmark Fund II, L.P.
By: Chilmark II, L.L.C.
By: /s/ David Schulte
-----------------------
Name: David Schulte
Title: President
Chilmark II, L.L.C.
By: /s/ David Schulte
-----------------------
Name: David Schulte
Title: President
Chilmark Partners, L.L.C.
By: /s/ David Schulte
-----------------------
Name: David Schulte
Title: Managing Member
/s/ David Schulte
--------------------------
David Schulte
Page 9 of 11 Pages
<PAGE>
EXHIBIT INDEX
Exhibit Page
Number Description Number
- ------ ----------- ------
1 Joint Filing Agreement, dated *
September 19, 1997, among
the Reporting Persons.
2 Stock Purchase Agreement. *
3 Amendment No. 1. *
4 Form of Share Purchase Agreement, *
dated as of September 18, 1997.
5 October Agreement. *
6 Amendment to October Agreement. 11
- --------
* previously filed
Page 10 of 11 Pages
Exhibit 6
AMENDMENT NO. 1 (this "Amendment"), dated as of
October 16, 1997, to the Agreement (the "Agreement") dated as of
October 14, 1997 by and between NutraMax Products, Inc., a
Delaware corporation (the "Company"), and Cape Ann Investors,
L.L.C., a Delaware limited liability company (the "Purchaser").
All capitalized terms used in this Amendment and not otherwise
defined herein shall have the meanings set forth in the
Agreement.
1. The references to "78%" in the fifth line and to
".78" in the seventh line of Section 2.2 of the Agreement are
hereby amended, respectively, to read "77%" and ".77" and all
references in the Agreement to the Other Purchasers are hereby
amended to be a reference to three other purchasers, rather than
two, as previously set forth in the Agreement.
2. Except as expressly provided herein, the Agreement
shall remain in full force and effect.
IN WITNESS WHEREOF, each of the parties hereto has
duly executed and delivered this Amendment as of the date first
above written.
NUTRAMAX PRODUCTS, INC.
By: /s/ Donald E. Lepone
------------------------
Name: Donald E. Lepone
Title: President/CEO
CAPE ANN INVESTORS, L.L.C.
By: Chilmark Fund II, L.P.,
its Managing Member
By: Chilmark II, L.L.C.,
its General Partner
By: /s/ Joel S. Friedland
------------------------
Name: Joel S. Friedland
Title: Vice President
Page 11 of 11 Pages
