UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
PLAYTEX PRODUCTS, INC.
(Name of Issuer)
Common Stock, Par Value $.01
(Title of Class of Securities)
72813P-10-0
(CUSIP Number)
Murray A. Indick
Richard C. Blum & Associates, L.P.
909 Montgomery Street, Suite 400
San Francisco, CA 94133
(415) 434-1111
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 22, 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 [ ].
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.
*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
disclosures provided in a prior cover page.
The information required on 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 20
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 2 of 20
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON STINSON CAPITAL PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3432358
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(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 California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,360,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,360,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,360,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 3 of 20
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON STINSON CAPITAL PARTNERS II, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3264850
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(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 California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,360,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,360,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,360,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 4 of 20
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BK CAPITAL PARTNERS IV, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3139027
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(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 California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,360,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,360,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,360,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 5 of 20
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON THE CARPENTERS PENSION TRUST
FOR SOUTHERN CALIFORNIA
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-6042875
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(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 California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,360,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,360,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,360,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON EP
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 6 of 20
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON UNITED BROTHERHOOD OF CARPENTERS
AND JOINERS OF AMERICA LOCAL UNIONS
AND COUNCILS PENSION FUND
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 35-6075035
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(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 Washington, DC
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,360,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,360,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,360,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON EP
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 7 of 20
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON INSURANCE COMPANY SUPPORTED
ORGANIZATIONS PENSION PLAN
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 13-6284703
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(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 Washington, DC
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,360,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,360,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,360,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON EP
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 8 of 20
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3205364
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* Not Applicable
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,360,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,360,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,360,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 9 of 20
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-2967812
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* Not Applicable
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,360,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,360,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,360,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 10 of 20
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ###-##-####
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* Not Applicable
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,360,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,360,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,360,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 11 of 20
Item 1. Security and Issuer
- ----------------------------
This Schedule 13D relates to shares of common stock, par value $.01 (the
"Common Stock") of Playtex Products, Inc., a Delaware corporation (the
"Issuer"). The principal executive office and mailing address of the Issuer
is 300 Nyala Farms Road, Westport, CT 06880.
Item 2. Identity and Background
- --------------------------------
This Schedule 13D is filed on behalf of Stinson Capital Partners, L.P., a
California limited partnership ("Stinson"); Stinson Capital Partners II, L.P.,
a California limited partnership ("Stinson II"); BK Capital Partners IV, L.P.,
a California limited partnership ("BK IV"); the Carpenters Pension Trust for
Southern California (the "Carpenters Trust"); United Brotherhood of Carpenters
and Joiners of America Local Unions and Councils Pension Fund ("UBC");
Insurance Company Supported Organizations Pension Plan ("ICSOPP"); Richard C.
Blum & Associates, L.P., a California limited partnership ("RCBA L.P.");
Richard C. Blum & Associates, Inc., a California corporation ("RCBA Inc.");
and Richard C. Blum, the Chairman and a substantial shareholder of RCBA Inc.
(collectively, the "Reporting Persons").
Stinson, Stinson II, and BK IV are each a California limited partnership whose
principal business is investing in securities, and whose principal office is
located at 909 Montgomery Street, Suite 400, San Francisco, California 94133.
RCBA L.P. is the sole general partner of Stinson, Stinson II, and BK IV, and
an investment advisor to the Carpenters Trust, UBC and ICSOPP.
RCBA L.P. is a California limited partnership whose principal business is
acting as general partner for investment partnerships and providing investment
advisory and financial consulting services. RCBA L.P. is a registered
investment adviser with the Securities and Exchange Commission and with the
State of California. The sole general partner of RCBA L.P. is RCBA Inc. The
principal business office address of RCBA L.P. and RCBA Inc. is 909 Montgomery
Street, Suite 400, San Francisco, California 94133. The names of the
executive officers and directors of RCBA Inc., their addresses, citizenship
and principal occupations are as follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- --------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman
President, Chairman Suite 400 RCBA L.P.
and Director San Francisco, CA 94133
Nils Colin Lind 909 Montgomery St. Norway Managing Director
Managing Director Suite 400 RCBA L.P.
and Director San Francisco, CA 94133
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 12 of 20
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- --------------------
Jeffrey W. Ubben 909 Montgomery St. USA Managing Director
Managing Director Suite 400 of Investments,
of Investments San Francisco, CA 94133 RCBA L.P.
George F. Hamel, Jr. 909 Montgomery St. USA Managing Director
Managing Director Suite 400 of Marketing,
of Marketing San Francisco, CA 94133 RCBA L.P.
Marc T. Scholvinck 909 Montgomery St. USA Managing Director
Managing Director Suite 400 and Chief Financial
and Chief Financial San Francisco, CA 94133 Officer,
Officer RCBA, L.P.
Thomas L. Kempner 40 Wall Street USA Chairman, Loeb
Director New York, NY 10005 Partners Corporation,
Investment Banking
Business
The Carpenters Trust is a trust, governed by a board of trustees. Its
principal office is located at 520 South Virgil Avenue, 4th Floor, Los
Angeles, California 90020. The names of the executive officers and trustees
of the Carpenters Trust, their addresses, citizenship and principal occupation
are as follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- --------------------
Kim Fromer 22225 Acorn Street USA President,
Trustee Chatsworth, CA 91311 Fromer, Inc.
Curtis Conyers, Jr. 4719 Exposition Blvd. USA President,
Trustee Los Angeles, CA 90016 Richard Lane Company
Richard Harris 292 North Wilshire USA General Manager,
Trustee Anaheim, CA 92801 Wesseln Construction
Company, Inc.
Ralph Larison 1925 Water Street USA President,
Trustee Long Beach, CA 90802 Connolly-Pacific Co.
Bert Lewitt 2901 28th Street USA President, Morley
Trustee Santa Monica, CA 90405 Construction Co.
Ronald W. Tutor 15901 Olden Street USA President,
Co-Chairman, Sylmar, CA 91342 Tutor-Saliba Corp.
Trustee
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 13 of 20
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- --------------------
J.D. Butler 412 Dawson Drive USA Executive Secretary,
Trustee Camarillo, CA 93010 Gold Coast District
Council of Carpenters
James K. Bernsen, 520 South Virgil Ave USA Secretary-Treasurer,
Trustee Los Angeles, CA 90020 Southern California-
Nevada Regional
Council of Carpenters
Douglas J. McCarron, 520 South Virgil Ave USA Secretary-Treasurer,
Co-Chairman, Los Angeles, CA 90020 Southern California
Trustee District Council of
Carpenters
Bill Perry 520 South Virgil Ave USA Retired
Trustee Los Angeles, CA 90020
Buddy Self 911 20th Street USA Financial Secretary,
Trustee Bakersfield, CA 91301 Carpenters Local
Union 743
UBC is a trust governed by a board of trustees. Its principal office is
located at 101 Constitution Avenue, N.W., Washington, DC 20001. The name,
address, citizenship and principal occupation of the executive officers and
trustees are as follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- --------------------
Douglas J. McCarron, 520 South Virgil Ave USA General President,
General President Los Angeles, CA 90020 UBC
and Trustee
Douglas J. Banes, 101 Constitution Ave NW USA First General Vice
First General Vice Washington, DC 20001 President, UBC
President and
Trustee
Andres J. Silins, 101 Constitution Ave NW USA Second General Vice
Second General Vice Washington, DC 20001 President, UBC
President and
Trustee
Byron G. Black 150 Cambria Road North USA Business Representa-
Goderich, Ontario tive, Carpenters
N7A 2R1 Local Union 2222
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 14 of 20
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- --------------------
Kenneth H. Busch 130 Tri-County Parkway USA Secretary and Busi-
Suite 403 ness Manager, South-
Cincinnati, OH 45246 west Ohio District
Council of Carpenters
Jim R. Green 448 Hegenberger Road USA Executive Secretary,
Oakland, CA 94621-1418 Bay Counties District
Council of Carpenters
ICSOPP is a trust, governed by a board of trustees. The principal
administrative office of ICSOPP is located at 1130 Connecticut Avenue, N.W.,
Washington, D.C. 20036. The name, business address and present principal
occupation of each of the trustees and executive officers of ICSOPP are as
follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- --------------------
Robert E. Vagley American Insurance Assn USA President, American
Fiduciary 1130 Connecticut Ave NW Insurance Assn
Washington, DC 20036
Fred R. Marcon Insurance Svcs Office USA President, Insurance
Fiduciary 7 World Trade Center Services Office
New York, NY 10048
Gail P. Norstrom Industrial Risk Insurers USA President & CEO
Fiduciary 85 Woodland Street Industrial Risk
Hartford, CT 06102 Insurers
A. James Brodsky Insurance Company USA Director, Insurance
Director Supported Organizations Company Supported
Pension Plan and Trust Organizations
1130 Connecticut Ave NW Pension Plan and
Washington, DC 20036 Trust
To the best knowledge of the Reporting Persons, none of the entities or
persons identified in this Item 2 has, during the past five years, been
convicted of any criminal proceeding (excluding traffic violations or similar
misdemeanors), nor been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with respect to such
laws.
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 15 of 20
Item 3. Source and Amount of Funds or Other Consideration
- ----------------------------------------------------------
The source of funds for the purchases of securities was the working capital of
the Reporting Persons.
Item 4. Purpose of Transaction
- -------------------------------
The Reporting Persons acquired the securities of the Issuer in the ordinary
course of their business, which is an investment business. In the ordinary
course of that business, the Reporting Persons may discuss from time to time
with representatives of the Issuer and with selected shareholders of the
Issuer ideas that the Reporting Persons believe might enhance shareholder
value, including ideas that might, if effected, result in any of the
following: the acquisition by persons of additional securities of the Issuer,
an extraordinary corporate transaction involving the Issuer, and/or changes in
the board of directors or management of the Issuer. Depending upon market
conditions and other factors, the Reporting Persons may acquire additional
securities of the Issuer in the open market, in privately negotiated
transactions or otherwise. Alternatively, depending upon market conditions or
other factors, the Reporting Persons may, from time to time, dispose of some
or all of the securities of the Issuer that they own beneficially.
Other than as set forth in this statement, the Reporting Persons do not have
any present plans or proposals that relate to or would result in any of the
consequences listed in paragraphs (a)-(j) of Schedule 13D, or any agreement
regarding such matters, although they may in the future take actions that
would have such consequences.
Item 5. Interest in Securities of the Issuer
- ---------------------------------------------
(a),(b) According to the Issuer's most recent Form 10-K, there were 50,913,804
shares of Common Stock issued and outstanding as of March 18, 1997. Based
on such information, after taking into account the transactions described in
Item 5(c) below, the following Reporting Persons report the following direct
holdings and corresponding percentage interests in the Common Stock:
Shares of Common Percentage
Name Stock Owned Owned
- ------------------- ------------------- -----------
Stinson 373,800 0.7%
Stinson II 115,100 0.2%
BK IV 169,000 0.3%
Carpenters Trust 1,886,000 3.7%
UBC 239,300 0.5%
ICSOPP 296,100 0.6%
--------- ----
Total 3,079,300 6.0%
========= ====
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 16 of 20
In addition, because RCBA L.P. has voting and investment power with respect to
281,200 shares that are legally owned by The Common Fund for the account of
its Equity Fund ("The Common Fund"), those shares are reported as beneficially
owned by RCBA L.P. The Common Fund is principally engaged in the business of
managing investments for educational institutions. The principal
administrative office of The Common Fund is located at 450 Post Road East,
Westport, Connecticut 06881-0909. The Common Fund disclaims membership in a
group with any of the Reporting Persons, and disclaims beneficial ownership of
any shares held by the Reporting Persons.
Voting and investment power concerning the above shares are held solely by
RCBA L.P. The Reporting Persons therefore may be deemed to be members in a
group, in which case each Reporting Person would be deemed to have beneficial
ownership of an aggregate of 3,360,500 shares of the Common Stock, which is
6.6% of the outstanding Common Stock. As the sole general partner of RCBA
L.P., RCBA Inc. is deemed the beneficial owner of the securities over which
RCBA L.P. has voting and investment power. As Chairman, director and a
substantial shareholder of RCBA Inc., Richard C. Blum might be deemed to be
the beneficial owner of the securities beneficially owned by RCBA Inc.
Although Mr. Blum is joining in this Schedule as a Reporting Person, the
filing of this Schedule shall not be construed as an admission that he, or any
of the other shareholders, directors or executive officers of RCBA Inc. is,
for any purpose, the beneficial owner of any of the securities that are
beneficially owned by RCBA Inc.
(c) During the last 60 days, the Reporting Persons purchased the following
shares of Common Stock in the open market:
Name Trade Date Shares Price/Share
- ------------------- ---------- ------- -----------
Stinson 03-07-97 1,600 10.13
03-12-97 2,200 10.13
03-13-97 1,600 10.13
04-16-97 8,700 9.88
04-21-97 1,600 10.25
04-22-97 47,600 10.13
04-23-97 9,700 9.50
Stinson II 04-10-97 50,000 9.75
04-11-97 25,500 9.75
04-16-97 11,300 9.88
04-17-97 700 10.00
04-21-97 700 10.25
04-22-97 21,300 10.13
04-23-97 5,100 9.50
04-29-97 500 9.25
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 17 of 20
Name Trade Date Shares Price/Share
- ------------------- ---------- ------- -----------
BK IV 03-07-97 2,900 10.13
03-12-97 3,900 10.13
03-13-97 3,200 10.13
04-16-97 400 9.88
04-21-97 200 10.25
04-22-97 5,800 10.13
04-23-97 2,500 9.50
04-29-97 300 9.25
Carpenters Trust 03-07-97 9,200 10.13
03-12-97 12,300 10.13
03-13-97 14,700 10.13
04-16-97 3,300 9.88
04-21-97 2,100 10.25
04-22-97 61,400 10.13
04-23-97 26,500 9.50
04-29-97 4,200 9.25
UBC 03-07-97 1,300 10.13
03-12-97 1,700 10.13
03-13-97 1,800 10.18
ICSOPP 03-07-97 2,100 10.13
03-12-97 2,800 10.13
03-13-97 2,400 10.13
04-21-97 200 10.25
04-22-97 7,200 10.13
04-23-97 2,900 9.50
The Common Fund 02-25-97 25,000 9.72
02-27-97 70,300 9.96
03-03-97 60,000 9.94
03-07-97 24,800 10.13
03-12-97 32,900 10.13
03-13-97 26,300 10.13
04-16-97 1,600 9.88
04-21-97 200 10.25
04-22-97 6,700 10.13
04-23-97 3,300 9.50
04-29-97 9,500 9.25
(d) and (e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
- ------------------------------------------------------------------------------
None.
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 18 of 20
Item 7. Material to be Filed as Exhibits
- -----------------------------------------
Exhibit A Joint Filing Undertaking.
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 19 of 20
SIGNATURES
After reasonable inquiry and to the best or our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: April 30, 1997
RICHARD C. BLUM & ASSOCIATES, L.P. RICHARD C. BLUM & ASSOCIATES, INC.
By /s/ Marc T. Scholvinck By /s/ Marc T. Scholvinck
------------------------------- -----------------------------------
Marc T. Scholvinck Marc T. Scholvinck
Managing Director and Managing Director and
Chief Financial Officer Chief Financial Officer
STINSON CAPITAL PARTNERS, L.P. /s/ Marc T. Scholvinck
STINSON CAPITAL PARTNERS II, L.P. ---------------------------------------
BK CAPITAL PARTNERS IV, L.P. RICHARD C. BLUM
By Richard C. Blum & Associates, By Marc T. Scholvinck,
L.P., its General Partner Attorney-in-Fact
By /s/ Marc T. Scholvinck THE CARPENTERS PENSION TRUST FOR
--------------------------- SOUTHERN CALIFORNIA
Marc T. Scholvinck,
Managing Director and UNITED BROTHERHOOD OF CARPENTERS
Chief Financial Officer AND JOINERS OF AMERICA LOCAL UNIONS
AND COUNCILS PENSION FUND
INSURANCE COMPANY SUPPORTED
ORGANIZATIONS PENSION PLAN
By Richard C. Blum & Associates, L.P.,
its Investment Advisor
By /s/ Marc T. Scholvinck
-------------------------------
Marc T. Scholvinck,
Managing Director and
Chief Financial Officer
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 20 of 20
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to this Schedule 13D to evidence the agreement of the
below-named parties, in accordance with the rules promulgated pursuant to the
Securities Exchange Act of 1934, to file this Schedule jointly on behalf of
each such party.
Dated: April 30, 1997
RICHARD C. BLUM & ASSOCIATES, L.P. RICHARD C. BLUM & ASSOCIATES, INC.
By /s/ Marc T. Scholvinck By /s/ Marc T. Scholvinck
------------------------------- -----------------------------------
Marc T. Scholvinck Marc T. Scholvinck
Managing Director and Managing Director and
Chief Financial Officer Chief Financial Officer
STINSON CAPITAL PARTNERS, L.P. /s/ Marc T. Scholvinck
STINSON CAPITAL PARTNERS II, L.P. ---------------------------------------
BK CAPITAL PARTNERS IV, L.P. RICHARD C. BLUM
By Richard C. Blum & Associates, By Marc T. Scholvinck,
L.P., its General Partner Attorney-in-Fact
By /s/ Marc T. Scholvinck THE CARPENTERS PENSION TRUST FOR
--------------------------- SOUTHERN CALIFORNIA
Marc T. Scholvinck,
Managing Director and UNITED BROTHERHOOD OF CARPENTERS
Chief Financial Officer AND JOINERS OF AMERICA LOCAL UNIONS
AND COUNCILS PENSION FUND
INSURANCE COMPANY SUPPORTED
ORGANIZATIONS PENSION PLAN
By Richard C. Blum & Associates, L.P.,
its Investment Advisor
By /s/ Marc T. Scholvinck
-------------------------------
Marc T. Scholvinck,
Managing Director and
Chief Financial Officer
