================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-----------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(Amendment No. 1)
-----------------------
SALTON/MAXIM HOUSEWARES, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE 795757103
- ------------------------------------------- --------------------------------
(Title of class of securities) (CUSIP number)
NORMAN D. CHIRITE, ESQ.
WEIL, GOTSHAL & MANGES LLP
767 FIFTH AVENUE
NEW YORK, NY 10153
(212) 310-8000
- --------------------------------------------------------------------------------
(Name, address and telephone number of person authorized to receive notices and
communications)
SEPTEMBER 16, 1998
- --------------------------------------------------------------------------------
(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(e), 13d-1(f) or 13d-1(g), check the following box
[_].
Note: Schedules filed in paper format should include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
(Continued on following pages)
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Page 1 of 18 Pages
NYFS08...:\60\34460\0037\2024\SCH9248J.350
<PAGE>
<TABLE>
<CAPTION>
- -------------------------------------------------------- --------------------------------------
CUSIP No. 795757103 13D Page 2 of 10
- -------------------------------------------------------- --------------------------------------
- --------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSON: CENTRE PARTNERS II LLC
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(b) [ ]
- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
- ---------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF DELAWARE
ORGANIZATION:
- ---------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 2,566,641
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 2,566,641
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 2,566,641
REPORTING PERSON:
- ---------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES:
- ---------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 28.8%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
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Page 2 of 18 Pages
<PAGE>
- -------------------------------------------------------- --------------------------------------
CUSIP No. 795757103 13D PAGE 3 OF 10
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: CENTRE CAPITAL INVESTORS II, L.P.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
- ---------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF DELAWARE
ORGANIZATION:
- ---------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 790,012
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 790,012
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 790,012
REPORTING PERSON:
- ---------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES:
- ---------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.9%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
- ---------------------------------------------------------------------------------------------------------
Page 3 of 18 Pages
<PAGE>
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CUSIP No. 795757103 13D PAGE 4 OF 10
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: CENTRE CAPITAL TAX-EXEMPT INVESTORS
II, L.P.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
- ---------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF DELAWARE
ORGANIZATION:
- ---------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 257,048
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 257,048
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 257,048
REPORTING PERSON:
- ---------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES:
- ---------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 2.9%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
- ---------------------------------------------------------------------------------------------------------
Page 4 of 18 Pages
<PAGE>
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CUSIP No. 795757103 13D PAGE 5 OF 10
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: CENTRE CAPITAL OFFSHORE INVESTORS
II, L.P.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
- ---------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF BERMUDA
ORGANIZATION:
- ---------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 171,900
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 171,900
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 171,900
REPORTING PERSON:
- ---------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES:
- ---------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.9%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
- ---------------------------------------------------------------------------------------------------------
Page 5 of 18 Pages
<PAGE>
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CUSIP No. 795757103 13D PAGE 6 OF 10
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: CENTRE PARTNERS COINVESTMENT, L.P.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
- ---------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF DELAWARE
ORGANIZATION:
- ---------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 135,840
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 135,840
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 135,840
REPORTING PERSON:
- ---------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES:
- ---------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.5%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
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Page 6 of 18 Pages
<PAGE>
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CUSIP No. 795757103 13D PAGE 7 OF 10
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: CENTRE PARALLEL MANAGEMENT PARTNERS, L.P.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
- ---------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF DELAWARE
ORGANIZATION:
- ---------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 12,128
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 12,128
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 12,128
REPORTING PERSON:
- ---------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES:
- ---------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.1%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
- ---------------------------------------------------------------------------------------------------------
Page 7 of 18 Pages
<PAGE>
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CUSIP No. 795757103 13D PAGE 8 OF 10
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: CENTRE PARTNERS MANAGEMENT LLC
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
- ---------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF DELAWARE
ORGANIZATION:
- ---------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,218,960
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,218,960
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 1,218,960
REPORTING PERSON:
- ---------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES:
- ---------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 13.7%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
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Page 8 of 18 Pages
<PAGE>
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CUSIP No. 795757103 13D PAGE 9 OF 10
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: CENTRE PARTNERS II, L.P.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
- ---------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF DELAWARE
ORGANIZATION:
- ---------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,218,960
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,218,960
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 1,218,960
REPORTING PERSON:
- ---------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES:
- ---------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 13.7%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
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Page 9 of 18 Pages
<PAGE>
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CUSIP No. 795757103 13D PAGE 10 OF 10
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- ---------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: STATE BOARD OF ADMINISTRATION OF FLORIDA
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
- ---------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
- ---------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF FLORIDA
ORGANIZATION:
- ---------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,199,713
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,199,713
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 1,199,713
REPORTING PERSON:
- ---------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES:
- ---------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 13.4%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
- ---------------------------------------------------------------------------------------------------------
</TABLE>
Page 10 of 18 Pages
<PAGE>
This Amendment No. 1 ("Amendment No. 1") amends the Statement
on Schedule 13D (the "Schedule 13D") filed on August 7, 1998, by and
on behalf of Centre Partners II LLC, Centre Capital Investors II,
L.P., Centre Capital Tax-Exempt Investors II, L.P., Centre Capital
Offshore Investors II, L.P., Centre Partners Coinvestment, L.P.,
Centre Parallel Management Partners, L.P., Centre Partners
Management LLC, Centre Partners II, L.P. and the State Board of
Administration of Florida (collectively, the "Reporting Persons").
Capitalized terms used herein and not defined herein have the
meanings ascribed thereto in the Schedule 13D.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Since the filing of the Schedule 13D, CCI II purchased an
aggregate of 65,777 shares of Common Stock for total consideration
of $919,031.20 derived from capital of CCI II.
Since the filing of the Schedule 13D, Centre Tax-Exempt
purchased an aggregate of 21,401 shares of Common Stock for total
consideration of $299,013.91 derived from capital of Centre
Tax-Exempt.
Since the filing of the Schedule 13D, Centre Offshore
purchased an aggregate of 14,312 shares of Common Stock for total
consideration of $199,966.72 derived from capital of Centre
Offshore.
Since the filing of the Schedule 13D, Centre Parallel
purchased an aggregate of 1,010 shares of Common Stock for total
consideration of $14,111.62 derived from capital of Centre Parallel.
Since the filing of the Schedule 13D, Centre Coinvestment
purchased an aggregate of 11,311 shares of Common Stock for total
consideration of $158,035.21 derived from capital of Centre
Coinvestment.
Since the filing of the Schedule 13D, the State Board
purchased an aggregate of 99,889 shares of Common Stock for total
consideration of $1,395,641.10 derived from capital of the State
Board.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of the date of this Statement, the Reporting Persons
beneficially owned in the aggregate 2,566,641 shares of Common
Stock, which includes 40,000 shares of Preferred Stock (which shares
of Preferred Stock are convertible into 2,352,941 shares of Common
Stock), constituting 28.8% of the outstanding shares of Common Stock
(the percentage of shares of Common Stock owned being based upon (x)
13,103,644 shares of Common Stock outstanding on July 24, 1998, as
set forth on that certain LaSalle National Bank Transfer Agent's
Certificate, dated July 24, 1998, less (y) 6,535,072 shares of
Common Stock repurchased by the Corporation from Windmere-Durable
Holdings, Inc. on July 28, 1998, plus (z) 2,352,941 shares of Common
Stock representing conversion of the 40,000 outstanding shares of
Preferred Stock).
Page 11 of 18 Pages
<PAGE>
The responses to Items 11 and 13 on each of pages 2-10 hereof
which relate to beneficial ownership of shares of Common Stock with
respect to each reporting person are incorporated herein by
reference.
(b) The responses to Items 7-11 on each of pages 2-10 hereof
which relate to voting and disposition of shares of Common Stock
with respect to each reporting person are incorporated herein by
reference.
Centre Partners is the general partner of Centre Coinvestment
and Centre Parallel and the general partner of the general partner
of CCI II, Centre Tax-Exempt and Centre Offshore, which are the
holders of record of the following amounts of Common Stock (which
includes shares of Preferred Stock convertible into Common Stock):
Common Stock
------------
Centre Partners Coinvestment, L.P. 135,840
Centre Capital Investors II, L.P. 790,012
Centre Capital Tax-Exempt Investors II, L.P. 257,048
Centre Capital Offshore Investors II, L.P. 171,900
Centre Parallel Management Partners, L.P. 12,128
-----------------
TOTAL 1,366,928
In addition, pursuant to certain investment management
arrangements, Centre Partners has been delegated voting and
dispositive power with respect to the 18,697 shares of Preferred
Stock and the 99,889 shares of Common Stock owned by the State
Board. Thus, Centre Partners may be deemed to beneficially own and
have voting and dispositive power over a total of 2,566,641 shares
of Common Stock.
Centre Partners II, L.P. is the general partner of Centre
Offshore, Centre Tax-Exempt and CCI II, which are the holders of
record of the following amounts of Common Stock (which includes
shares of Preferred Stock convertible into Common Stock):
Common Stock
------------
Centre Capital Offshore Investors II, L.P. 171,900
Centre Capital Tax-Exempt Investors II, L.P. 257,048
Centre Capital Investors II, L.P. 790,012
----------------
TOTAL 1,218,960
Thus, Centre Partners II, L.P. may be deemed to beneficially
own and have voting and dispositive power over a total of 1,218,960
shares of Common Stock.
Page 12 of 18 Pages
<PAGE>
Pursuant to a Management Agreement, Centre Management has been
delegated voting and dispositive power with respect to shares owned
by CCI II, Centre Offshore and Centre Tax-Exempt, which are the
holders of record of the following amounts of Common Stock (which
includes shares of Preferred Stock convertible into Common Stock):
Common Stock
------------
Centre Capital Investors II, L.P. 790,012
Centre Capital Tax-Exempt Investors II, L.P. 257,048
Centre Capital Offshore Investors II, L.P. 171,900
----------------
TOTAL 1,218,960
Thus, Centre Management has been delegated voting and
dispositive power with respect to a total of 1,218,960 shares of
Common Stock.
All of the Members disclaim any beneficial ownership of any of
the shares of Common Stock reported herein except to the extent of
their economic interest therein.
(c) Information concerning transactions in shares of Common
Stock by the Reporting Persons during the past sixty days or since
the filing of the Schedule 13D, whichever is less, is set forth in
Exhibit D attached hereto, which is incorporated by reference.
(d) See Item 5(b).
(e) Not applicable.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
Exhibit D - Information concerning transactions in shares of Common
Stock effected by the Reporting Persons during the past sixty days
or since the filing of the Schedule 13D, whichever is less.
Page 13 of 18 Pages
<PAGE>
SIGNATURE
---------
After reasonable inquiry and to the best of his or her knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: September 24, 1998
CENTRE PARTNERS II LLC
By: /s/ Bruce G. Pollack
-----------------------------------------------
Bruce G. Pollack, Managing Director
CENTRE CAPITAL INVESTORS II, L.P.
CENTRE CAPITAL TAX-EXEMPT INVESTORS II, L.P.
CENTRE CAPITAL OFFSHORE INVESTORS II, L.P.
By: Centre Partners II, L.P., as its General Partner
By: Centre Partners Management LLC,
as Attorney-in-fact
By: /s/ Bruce G. Pollack
------------------------------------
Bruce G. Pollack, Managing Director
CENTRE PARALLEL MANAGEMENT PARTNERS, L.P.
CENTRE PARTNERS COINVESTMENT, L.P.
By: Centre Partners II LLC, as its General Partner
By: /s/ Bruce G. Pollack
-----------------------------------------
Bruce G. Pollack, Managing Director
CENTRE PARTNERS MANAGEMENT LLC
By: /s/ Bruce G. Pollack
-----------------------------------------------
Bruce G. Pollack, Managing Director
Page 14 of 18 Pages
<PAGE>
CENTRE PARTNERS II, L.P.
By: Centre Partners Management LLC,
as Attorney-in-fact
By: /s/ Bruce G. Pollack
-----------------------------------------
Bruce G. Pollack, Managing Director
STATE BOARD OF ADMINISTRATION OF FLORIDA
By: Centre Parallel Management Partners, L.P.
Manager
By: Centre Partners Manager LLC,
as Attorney-in-fact
By: /s/ Bruce G. Pollack
-----------------------------------
Bruce G. Pollack, Managing Director
Page 15 of 18 Pages
<PAGE>
EXHIBIT INDEX
-------------
Exhibit Page No.
- ------- --------
D. Information concerning transactions 17
in shares of Common Stock effected
by the Reporting Persons during the
past sixty days or since the filing
of the Schedule 13D, whichever is less.
Page 16 of 18 Pages
<PAGE>
Exhibit D
TRANSACTIONS IN COMMON STOCK OF THE CORPORATION
-----------------------------------------------
The Reporting Persons engaged in the following transactions in
shares of Common Stock of the Corporation during the past 60 days or since the
filing of the Schedule 13D, whichever is less. All transactions involved
purchases of shares on the Nasdaq National Market.
Reporting Person
With Direct
Beneficial Date of Number of Price Per
Ownership Transaction Shares Share
- ------------ ----------- ---------- -----
CCI II 9/10/98 9,234 $13.4687
CCI II 9/14/98 2,155 $14.9375
CCI II 9/15/98 13,820 $14.7250
CCI II 9/16/98 8,280 $14.7500
CCI II 9/17/98 5,879 $14.4375
CCI II 9/18/98 6,802 $14.4687
CCI II 9/22/98 8,834 $13.2452
CCI II 9/23/98 10,773 $12.6742
Centre Tax-Exempt 9/10/98 3,004 $13.4687
Centre Tax-Exempt 9/14/98 701 $14.9375
Centre Tax-Exempt 9/15/98 4,498 $14.7250
Centre Tax-Exempt 9/16/98 2,693 $14.7500
Centre Tax-Exempt 9/17/98 1,913 $14.4375
Centre Tax-Exempt 9/18/98 2,213 $14.4687
Centre Tax-Exempt 9/22/98 2,874 $13.2452
Centre Tax-Exempt 9/23/98 3,505 $12.6742
Centre Offshore 9/10/98 2,009 $13.4687
Centre Offshore 9/14/98 469 $14.9375
Centre Offshore 9/15/98 3,007 $14.7250
Centre Offshore 9/16/98 1,802 $14.7500
Page 17 of 18 Pages
<PAGE>
Centre Offshore 9/17/98 1,279 $14.4375
Centre Offshore 9/18/98 1,480 $14.4687
Centre Offshore 9/22/98 1,922 $13.2452
Centre Offshore 9/23/98 2,344 $12.6742
Centre Parallel 9/10/98 142 $13.4687
Centre Parallel 9/14/98 33 $14.9375
Centre Parallel 9/15/98 212 $14.7250
Centre Parallel 9/16/98 127 $14.7500
Centre Parallel 9/17/98 90 $14.4375
Centre Parallel 9/18/98 105 $14.4687
Centre Parallel 9/22/98 136 $13.2452
Centre Parallel 9/23/98 165 $12.6742
Centre Coinvestment 9/10/98 1,588 $13.4687
Centre Coinvestment 9/14/98 370 $14.9375
Centre Coinvestment 9/15/98 2,376 $14.7250
Centre Coinvestment 9/16/98 1,424 $14.7500
Centre Coinvestment 9/17/98 1,011 $14.4375
Centre Coinvestment 9/18/98 1,170 $14.4687
Centre Coinvestment 9/22/98 1,519 $13.2452
Centre Coinvestment 9/23/98 1,853 $12.6742
State Board 9/10/98 14,023 $13.4687
State Board 9/14/98 3,272 $14.9375
State Board 9/15/98 20,987 $14.7250
State Board 9/16/98 12,574 $14.7500
State Board 9/17/98 8,928 $14.4375
State Board 9/18/98 10,330 $14.4687
State Board 9/22/98 13,415 $13.2452
State Board 9/23/98 16,360 $12.6742
Page 18 of 18 Pages
