STERICYCLE INC
SC 13G, 1998-02-17
HAZARDOUS WASTE MANAGEMENT
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<PAGE>

                      SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  ___________

                                  SCHEDULE 13G
                                 (Rule 13d-102)

            INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
                   UNDER THE SECURITIES EXCHANGE ACT OF 1934
                              (Amendment No. 1)/1/


                                Stericycle, Inc.
                                ----------------
                                (Name of Issuer)

                    Common Stock, $0.01 Par Value Per Share
                    ---------------------------------------
                         (Title of Class of Securities)

                                   858912108
                            -----------------------
                                 (CUSIP Number)

                                  ___________



_______________________

/1/ 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 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 10 Pages
<PAGE>

- -----------------------                                  ---------------------
  CUSIP No. 858912108               13G                    Page 2 of 10 Pages
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      James E. Daverman

      ###-##-#### 
                          
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [_]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
      

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      United States of America

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            None
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          1,030,232
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             None
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8    
                          1,030,232    
                          
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
      1,030,232

- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
      9.9%                                                                   

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      IN

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!

<PAGE>

- -----------------------                                  ---------------------
  CUSIP No.  858912108              13G                    Page 3 of 10 Pages
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      Marquette Venture Partners, L.P.
 
      36-3504827
                                                                               
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [_]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      Delaware


- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            None
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          1,030,232
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             None
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          1,030,232

- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
      1,030,232

- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
      9.9%  

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      PN

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!

<PAGE>
- -----------------------                                  ---------------------
  CUSIP No.  858912108              13G                    Page 4 of 10 Pages
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      Marquette Venture Associates, L.P.
 
      36-3504831
                                                                               
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [_]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      Delaware


- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            None
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          1,030,232
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             None
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          1,030,232

- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
      1,030,232

- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
      9.9%  

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      PN

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!

 
<PAGE>
 
- -----------------------                                  ---------------------
  CUSIP No.  858912108              13G                    Page 5 of 10 Pages
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      Marquette Management Partners
 
      36-3504830
                                                                               
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [_]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      Illinois


- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            None
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          1,030,232
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             None
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          1,030,232

- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
      1,030,232

- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
      9.9%  

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      PN

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!

<PAGE>
 
- -----------------------                                  ---------------------
  CUSIP No. 858912108               13G                    Page 6 of 10 Pages
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      Lloyd D. Ruth    

      ###-##-#### 
                          
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [_]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
      

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      United States of America

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            3,073
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          1,030,232
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             3,073
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8    
                          1,030,232    
                          
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
      1,033,305

- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
      9.9%                                                                   

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      IN

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!

 
<PAGE>
 
Item 1(a) Name of Issuer:
          -------------- 

          Stericycle, Inc. ("Stericycle")

Item 1(b) Address of Issuer's Principal Executive Offices:
          ----------------------------------------------- 

          1419 Lake Cook Road
          Suite 410
          Deerfield, IL 60015

Item 2(a) Name of Person Filing:
          --------------------- 

          This Schedule 13G is being jointly filed by each of the following
          persons pursuant to Rule 13d-(1)(f) promulgated by the Securities and
          Exchange Commission pursuant to Section 13 of the Securities Exchange
          Act of 1934, as amended (the "Act"):  (i) Marquette Venture Partners,
          L.P. ("MVP"), a Delaware limited partnership, by virtue of its direct
          beneficial ownership of 1,030,232 shares of common stock, par value
          $0.01 per share (the "Common Stock"), of Stericycle; (ii) Marquette
          Venture Associates, L.P. ("MVA"), a Delaware limited partnership, as
          the sole general partner of MVP; (iii) Marquette Management Partners
          ("MMP"), a Delaware general partnership, as the sole general partner
          of MVA; (iv) James E. Daverman ("Mr. Daverman"), an individual, as a
          general partner of MMP; and (v) Lloyd D. Ruth ("Mr. Ruth"), an
          individual, as a general partner of MMP and by virtue of the vesting
          (as of within 60 days of December 31, 1998) of options to purchase
          3,073 shares of Common Stock.  MVP, MVA, MMP, Mr. Daverman and Mr.
          Ruth are hereinafter collectively referred to as the "Reporting
          Persons."

          The Reporting Persons have entered into a Joint Filing Agreement,
          dated February 13, 1997, a copy of which has previously been filed
          with this Schedule 13G, pursuant to which the Reporting Persons have
          agreed to file this statement jointly in accordance with the
          provisions of Rule 13d-1(f)(1) under the Act.

Item 2(b) Address of Principal Business Office or, if none,
          Residence:
          -------------------------------------------------

          The address of the principal business office of each of the Reporting
          Persons is:

          Corporate 500 Centre
          520 Lake Cook Road, Suite 450
          Deerfield, Illinois 60015

                              Page 7 of 10 pages
<PAGE>
 
Item 2(c) Citizenship
          -----------

          MVP and MVA are limited partnerships organized under the laws of
          Delaware. MMP is a general partnership organized under the laws of
          Illinois. Mr. Daverman and Mr. Ruth are United States citizens.

Item 2(d) Title of Class of Securities:
          ---------------------------- 

          Common Stock, $0.01 par value per share.

Item 2(e) CUSIP No.:
          --------- 

          858912108

Item 3    If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b), 
          check whether the persons filing is a:
          ------------------------------------------------------------------

          The persons filing are not described in any category listed under this
          item.

Item 4    Ownership
          ---------

          MVA is the sole general partner of MVP; MMP is the sole general
          partner of MVA; and Mr. Daverman and Mr. Ruth are the general partners
          of MMP. As a result of such relationships, MVA, MMP and both Messrs.
          Daverman and Ruth may be deemed to share voting and dispositive power
          with respect to the shares held by MVP. The information set forth on
          the cover pages is hereby incorporated by reference.

          Each Reporting Person expressly disclaims beneficial ownership of any
          shares of Common Stock beneficially owned by each other Reporting
          Person.

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:
          ---------------------------------------------------------------

          No other person has the right to receive or the power to direct the
          receipt of dividends from, or other proceeds from the sale, of the
          shares.

                              Page 8 of 10 pages
<PAGE>
 
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.

                              Page 9 of 10 pages
<PAGE>
 
                                   SIGNATURE

          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.

Date:  February 14, 1998

                              MARQUETTE VENTURE PARTNERS, L.P.

                              MARQUETTE VENTURE ASSOCIATES, L.P.

                              MARQUETTE MANAGEMENT PARTNERS


                              By: /s/  Lloyd D. Ruth
                                  --------------------
                                       Lloyd D. Ruth
                                       as authorized signatory


                                /s/  James E. Daverman
                                ------------------------
                                JAMES E. DAVERMAN


                                /s/  Lloyd D. Ruth
                                --------------------
                                LLOYD D. RUTH

                              Page 10 of 10 pages


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