<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 27, 1998
CONSOLIDATED CAPITAL OF NORTH AMERICA, INC.
------------------------------------------------------
(Exact Name of Registrant as Specified in Its Charter)
Colorado 0-21821 93-0962072
- -------------------------------- ----------- ------------------
State or Other Jurisdiction Commission IRS Employer
Of Incorporation or Organization File Number Identification No.
410 17th Street, Suite 400, Denver, Colorado 80202
---------------------------------------------------
Address of Principal Executive Offices and Zip Code
Registrant's telephone number, including area code (888) 313-8051
<PAGE> 2
Item 5. OTHER EVENTS
Consolidated Capital of North America, Inc. (the
"Company") has entered into a letter of intent to acquire
privately held Form Tech Steel, Inc. ("Form Tech"), a
Midwest-based steel service center, for a purchase price of
$22.5 million. The purchase will be financed through a
combination of senior notes, the assumption of existing
indebtedness, cash and the issuance of a convertible note to
the sellers. Form Tech processes and sells slit coil steel,
including hot rolled, cold rolled, hot-dipped galvanized and
galvanneal, electrolytic galvanized, and aluminized steel
coils. The Company expects to utilize Form Tech as the core of
an aggressive acquisition effort in the Midwest, and also
expects to grow the business through expansion of Form Tech's
existing facilities, currently consisting of a 55,000 square
foot facility on 10 acres of land in Temperance, Michigan
which is 2 miles north of Toledo, Ohio, and 45 miles south of
Detroit.
The consummation of the transaction is contingent
upon certain closing conditions being met by the parties
including the execution of definitive agreements, completion
of a review of the business of Form Tech and attainment of
adequate financing to consummate the transaction.
Safe Harbor Statement: The statements contained in this report
that are not historical facts may contain forward looking
statements that involve a number of known and unknown risks
and uncertainties that could cause actual results to differ
materially from those discussed or anticipated by management.
Potential risks and uncertainties include, among other
factors, general business conditions, competitive market
conditions, success of the Company's growth and sales
strategy, whether the Company will suffer customer attrition,
whether the transaction between the Company and Form Tech will
be successfully completed and integrated, whether the Company
will have sufficient resources to realize its growth plans,
fluctuations in margins, and other risks and uncertainties
currently unknown to management.
<PAGE> 3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CONSOLIDATED CAPITAL OF NORTH AMERICA, INC.
By: /s/ Donald R. Jackson
-----------------------
Donald R. Jackson
Treasurer and Secretary
Date: May 1, 1998
