================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
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)
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)
July 28, 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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NYFS08...:\60\34460\0037\2024\SCH8058P.52A
<PAGE>
<TABLE>
<CAPTION>
- -------------------------------------------------------- --------------------------------------
CUSIP No. 795757103 13D Page 2 of 20
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
<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: 2,352,941
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 2,352,441
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 2,352,941
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): 26.4%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
- ---------------------------------------------------------------------------------------------------------
Page 2 of 20 Pages
<PAGE>
- -------------------------------------------------------- --------------------------------------
CUSIP No. 795757103 13D Page 3 of 20
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
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: 724,235
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 724,235
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 724,235
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): 8.1%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
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Page 3 of 20 Pages
<PAGE>
- -------------------------------------------------------- --------------------------------------
CUSIP No. 795757103 13D Page 4 of 20
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
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: 235,647
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 235,647
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 235,647
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): 2.6%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
- ---------------------------------------------------------------------------------------------------------
Page 4 of 20 Pages
<PAGE>
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CUSIP No. 795757103 13D Page 5 of 20
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
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: 157,588
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 157,588
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 157,588
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): 1.8%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
- ---------------------------------------------------------------------------------------------------------
Page 5 of 20 Pages
<PAGE>
- -------------------------------------------------------- --------------------------------------
CUSIP No. 795757103 13D Page 6 of 20
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
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: 124,529
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 124,529
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 124,529
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): 1.4%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
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Page 6 of 20 Pages
<PAGE>
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CUSIP No. 795757103 13D Page 7 of 20
- -------------------------------------------------------- --------------------------------------
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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: 11,118
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 11,118
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 11,118
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 20 Pages
<PAGE>
- -------------------------------------------------------- --------------------------------------
CUSIP No. 795757103 13D Page 8 of 20
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
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: 1,117,470
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,117,470
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 1,117,470
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): 12.5%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
- ---------------------------------------------------------------------------------------------------------
Page 8 of 20 Pages
<PAGE>
- -------------------------------------------------------- --------------------------------------
CUSIP No. 795757103 13D Page 9 of 20
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
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: 1,117,470
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,117,470
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 1,117,470
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): 12.5%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
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Page 9 of 20 Pages
<PAGE>
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CUSIP No. 795757103 13D Page 10 of 20
- -------------------------------------------------------- --------------------------------------
- ---------------------------------------------------------------------------------------------------------
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: 1,099,824
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,099,824
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 1,099,824
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): 12.3%
- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
- ---------------------------------------------------------------------------------------------------------
</TABLE>
Page 10 of 20 Pages
<PAGE>
Item 1. Security and Issuer.
This Statement relates to shares of common stock, $.01 par
value per share (the "Common Stock") and shares of Series A Voting
Convertible Preferred Stock (the "Preferred Stock"), of Salton/Maxim
Housewares, Inc. (the "Corporation"). The Corporation's principal
executive office is located at 550 Business Center Drive, Mt.
Prospect, IL 60056.
Item 2. Identity and Background.
a. Name of Filing Person:
(i) The "Centre Entities"
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.
(ii) State Board of Administration of Florida (the "State
Board")
b. Address of Principal Business Office:
(i) The address of the Centre Entities other than Centre
Capitol Offshore Investors II, L.P. is:
c/o Centre Partners Management LLC
30 Rockefeller Plaza
New York, NY 10020
The address of Centre Capital Offshore Investors II, L.P. is:
c/o Reid Management
Cedar House
41 Cedar Avenue
Box HM 1179
Hamilton, Bermuda
(ii) The address of the State Board is:
c/o Centre Partners Management LLC
30 Rockefeller Plaza
New York, NY 10020
Page 11 of 20 Pages
<PAGE>
c. Principal Business:
The Centre Entities are engaged primarily in the business of
investing and managing their investments. The State Board is engaged
primarily in the business of public employee pension administration
as an instrumentality of the State of Florida.
d. Criminal Proceeding:
Neither the Centre entities nor the State Board has been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) during the past five years.
e. Civil Proceeding:
Neither the Centre Entities nor the State Board has 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 violations with
respect to such laws during the past five years.
f. Citizenship:
All of the Centre Entities were organized in Delaware except
Centre Capital Offshore Investors II, L.P. which was organized in
Bermuda. The State Board was organized in Florida.
g. Managing Directors:
Messrs. Jonathan H. Kagan, Lester Pollack, Bruce G. Pollack,
David Golub and Paul Zepf (the "Members") are each members of Centre
Partners II LLC ("Centre Partners") and Centre Partners Management
LLC ("Centre Management"). The business address for each of them is
c/o Centre Partners Management LLC, 30 Rockefeller Plaza, New York,
New York, 10020 and each is a citizen of the United States. None of
the Members (i) has been convicted in criminal proceeding or (ii)
was 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. The Members are engaged primarily in the
business of private investing and investment management.
Item 3. Source and Amount of Funds or Other Consideration.
On July 28, 1998, Centre Capital Investors II, L.P. ("CCI
II"), Centre Capital Tax-Exempt Investors II, L.P. ("Centre
Tax-Exempt"), Centre Capital Offshore Investors II, L.P. ("Centre
Offshore"), Centre Parallel Management Partners, L.P. ("Centre
Parallel"), Centre Partners Coinvestment, L.P. ("Centre
Coinvestment") and the State Board collectively paid
Page 12 of 20 Pages
<PAGE>
the Corporation $40,000,000 in cash to purchase 40,000 shares of the
Preferred Stock at a purchase price of $1,000 per share. Each share
of Preferred Stock is convertible at any time (subject to mandatory
conversion on September 15, 2008) into that number of shares of
Common Stock obtained by dividing $1,000 by the conversion price in
effect at such time. As of the date hereof, the conversion price is
$17.00. The source of the funds used to make this purchase were
obtained from working capital.
Item 4. Purpose of Transaction.
The Centre Entities and the State Board acquired their shares
of Preferred Stock for the purposes of investment and to obtain an
equity interest in the Corporation. Neither the Centre Entities nor
the State Board has any present plan or proposal as stockholders
which relate to, or would result in any action with respect to, the
matters listed in paragraphs (b) through (j) of Item 4 of Schedule
13D. In the future, any of the Centre Entities or the State Board
may dispose of shares of Preferred Stock or purchase additional
shares of the Preferred Stock of the Corporation in private
transactions.
Item 5. Interest in Securities of the Issuer.
(a) As of July 24, 1998, the Corporation had issued and
outstanding 13,103,644 shares of Common Stock. As of such date the
Corporation had no issued and outstanding shares of Preferred Stock.
On July 28, 1998 the Corporation repurchased from Windmere-Durable
Holdings, Inc. 6,535,072 shares of Common Stock. As of the date
hereof, the 40,000 shares of Preferred Stock outstanding are
convertible into 2,352,941 shares of Common Stock.
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 Preferred Stock:
Page 13 of 20 Pages
<PAGE>
Preferred Stock
---------------
Centre Partners Coinvestment, L.P. 2,117
Centre Capital Investors II, L.P. 12,312
Centre Capital Tax-Exempt Investors II, L.P. 4,006
Centre Capital Offshore Investors II, L.P. 2,679
Centre Parallel Management Partners, L.P. 189
-------------------
TOTAL 21,303
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 owned by the State Board. Thus, Centre
Partners may be deemed to beneficially own and have voting and dispositive power
over a total of 40,000 shares of Preferred 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 Preferred Stock:
Preferred Stock
---------------
Centre Capital Offshore Investors II, L.P. 2,679
Centre Capital Tax-Exempt Investors II, L.P. 4,006
Centre Capital Investors II, L.P. 12,312
----------------------
TOTAL 18,997
Thus, Centre Partners II, L.P. may be deemed to beneficially own and have
voting and dispositive power over a total of 18,997 shares of Preferred Stock.
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 Preferred Stock:
Preferred Stock
---------------
Centre Capital Investors II, L.P. 12,312
Centre Capital Tax-Exempt Investors II, L.P. 4,006
Centre Capital Offshore Investors II, L.P. 2,679
---------------------
TOTAL 18,997
Thus, Centre Management has been delegated voting and dispositive power
with respect to a total of 18,997 shares of Preferred Stock.
Page 14 of 20 Pages
<PAGE>
All of the Members disclaim any beneficial ownership of any of
the shares of Preferred Stock reported herein except to the extent
of their economic interest therein.
(c) See Item 3.
(d) See Item 5(b).
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer.
See Item 5(b).
Item 7. Materials to be Filed as Exhibits.
Exhibit A - Stock Purchase Agreement, dated July 15, 1998, by and
among the Corporation and each of the parties listed on Schedule I
thereto, incorporated by reference to Exhibit 10.1 to the Form 8-K
of the Corporation dated July 15, 1998 (File No. 0-19557).
Exhibit B - Registration Rights Agreement, dated July 15, 1998, by
and among the Corporation and each of the parties listed on the
signature pages thereto under the caption "Purchasers", incorporated
by reference to Exhibit 10.7 to the Form 8-K of the Corporation
dated July 28, 1998 (File No. 0-19557).
Exhibit C - A copy of a written agreement relating to the filing of
a joint statement as required by Rule 13d-1(f) under the Securities
Exchange Act of 1934, as amended.
Page 15 of 20 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: August 7, 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 16 of 20 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 17 of 20 Pages
<PAGE>
EXHIBIT INDEX
Exhibit Page No.
- ------- --------
A. Stock Purchase Agreement, dated July 15, 1998, by and among
the Corporation and each of the parties listed on Schedule I
thereto, incorporated by reference to Exhibit 10.1 to the
Form 8-K of the Corporation dated July 15, 1998 (File No. 0-
19557).
B. Registration Rights Agreement, dated July 15, 1998, by and
among the Corporation and each of the parties listed on the
signature pages thereto under the caption "Purchasers",
incorporated by reference to Exhibit 10.7 to the Form 8-K of
the Corporation dated July 28, 1998 (File No. 0-19557).
C. Agreement relating to the filing of a joint statement as
required by Rule 14d-1(f) under the Securities Exchange Act
of 1934, as amended 19
Page 18 of 20 Pages
EXHIBIT C
AGREEMENT REGARDING JOINT FILING
This will confirm the agreement by and between the undersigned that
the Schedule 13D filed on or about this date with respect to the beneficial
ownership of the undersigned of shares of Series A Voting Convertible Preferred
Stock of Salton/Maxim Housewares, Inc. is being filed, and all further
amendments thereto will be filed, jointly on behalf of each of the entities
named below for all purposes specified in such Schedule 13D, as so amended. This
Agreement may be executed on two or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument.
Dated: August 7, 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 19 of 20 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 20 of 20 Pages
