SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
RailAmerica, Inc.
(Name of Issuer)
Common Stock, Par Value $.001
(Title of Class of Securities)
750753105
(CUSIP Number)
Arthur Goetchius
300 Park Avenue, 21st Fl., New York, NY 10022 (212) 755-9000
(Name, address and telephone number of person
authorized to receive notices and communications)
July 8, 1997
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this Schedule 13D, and
is filing this schedule because of Rule 13d-1(b)(3) or (4), check the
following box [ ].
Check the following box if a fee is being paid with the statement.
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class.) (See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should
be filed with the Commission. See Rule 13d-1(a) for other parties to whom
copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the 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 purposes 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 23 Pages
13D
CUSIP No. 750753105
- ----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
EGS Associates, L.P.
- ----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ----------------------------------------------------------------------------
(3) SEC USE ONLY
- ----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
- ------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
212,660
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
212,660
- ----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
212,660
- ----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.41%
- ----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
PN
- ----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 23 Pages
13D
CUSIP No. 750753105
- ----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
EGS Partners, L.L.C.
- ----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ----------------------------------------------------------------------------
(3) SEC USE ONLY
- ----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
OO
- ----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
444,500
OWNED BY -----------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
451,450
- ----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
451,450
- ----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
5.11%
- ----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IA
- ----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 23 Pages
13D
CUSIP No. 750753105
- ----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Bev Partners, L.P.
- ----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ----------------------------------------------------------------------------
(3) SEC USE ONLY
- ----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
- ------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
99,390
OWNED BY -----------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
99,390
- ----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
99,390
- ----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.13%
- ----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
PN
- ----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 23 Pages
13D
CUSIP No. 750753105
- ----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Jonas Partners, L.P.
- ----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
- ------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
18,000
OWNED BY -----------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
18,000
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
18,000
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.20%
- ----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
PN
- ----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 23 Pages
13D
CUSIP No. 750753105
- ----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
William Ehrman
- ----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ----------------------------------------------------------------------------
(3) SEC USE ONLY
- ----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
AF OO PF
- ------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
15,000
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
774,550
OWNED BY -----------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
15,000
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
796,500
- ----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
811,500
- ----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
9.19%
- ----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- ----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 23 Pages
13D
CUSIP No. 750753105
- ----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Frederic Greenberg
- ----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ----------------------------------------------------------------------------
(3) SEC USE ONLY
- ----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
AF OO
- ------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
774,550
OWNED BY -----------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
781,500
- ----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
781,500
- ----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.85%
- ----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- ----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 23 Pages
13D
CUSIP No. 750753105
- ----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Frederick Ketcher
- ----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ----------------------------------------------------------------------------
(3) SEC USE ONLY
- ----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
AF OO PF
- ------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
10,000
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
774,550
OWNED BY -----------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
10,000
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
781,500
- ----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
791,500
- ----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.96%
- ----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- ----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 23 Pages
13D
CUSIP No. 750753105
- ----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Jonas Gerstl
- ----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ----------------------------------------------------------------------------
(3) SEC USE ONLY
- ----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
AF OO
- ------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
774,550
OWNED BY -----------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
781,500
- ----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
781,500
- ----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.85%
- ----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- ----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 23 Pages
13D
CUSIP No. 750753105
- ----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
James McLaren
- ----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ----------------------------------------------------------------------------
(3) SEC USE ONLY
- ----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
AF OO
- ------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
774,550
OWNED BY -----------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
781,500
- ----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
781,500
- ----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.85%
- ----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- ----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 23 Pages
13D
CUSIP No. 750753105
- ----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
William D. Lautman
- ----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ----------------------------------------------------------------------------
(3) SEC USE ONLY
- ----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
AF OO
- ----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ---------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
774,550
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
781,500
- ----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
781,500
- ----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.85%
- ----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- ----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 23 Pages
ITEM 1. SECURITY AND ISSUER.
This statement relates to the common stock, $.001 par value (the "Common
Stock"), issued by RailAmerica, Inc., a Delaware corporation (the "Company"),
whose principal executive offices are 301 Yamato Road, Suite 1190, Boca Raton,
Florida, 33431.
ITEM 2. IDENTITY AND BACKGROUND.
(a) This statement is filed by (i) EGS Associates, L.P., a Delaware
limited partnership ("EGS Associates"), with respect to shares of Common Stock
beneficially owned by it, (ii) EGS Partners, L.L.C., a Delaware limited
liability company ("EGS Partners"), with respect to shares of Common Stock
held in two of the discretionary accounts managed by EGS Partners, (iii) Bev
Partners, L.P., a Delaware limited partnership ("Bev Partners"), with respect
to shares of Common Stock beneficially owned by it, (iv) Jonas Partners, L.P.,
a Delaware limited partnership ("Jonas Partners"), with respect to shares of
Common Stock beneficially owned by it, (v) William Ehrman, with respect to
shares of Common Stock beneficially owned by him and members of his immediate
family, EGS Associates, EGS Partners, Bev Partners, and Jonas Partners; (vi)
Frederic Greenberg, with respect to shares of Common Stock beneficially owned
by EGS Associates, EGS Partners, Bev Partners, and Jonas Partners; (vii)
Frederick Ketcher, with respect to shares of Common Stock beneficially owned
by him, EGS Associates, EGS Partners, Bev Partners, and Jonas Partners,(viii)
Jonas Gerstl, with respect to shares of Common Stock beneficially owned by EGS
Associates, EGS Partners, Bev Partners, and Jonas Partners; (ix) James
McLaren, with respect to shares of Common Stock beneficially owned by EGS
Associates, EGS Partners, Bev Partners and Jonas Partners; and (x)William D.
Lautman, with respect to shares of Common Stock beneficially owned by EGS
Associates, EGS Partners, Bev Partners and Jonas Partners. The foregoing
persons are hereinafter sometimes referred to collectively as the "Reporting
Persons". Any disclosures herein with respect to persons other than the
Reporting Persons are made on information and belief after making inquiry to
the appropriate party.
The general partners of EGS Associates, Bev Partners, and Jonas Partners,
and the members of EGS Partners, are William Ehrman, Frederic Greenberg,
Frederick Ketcher, Jonas Gerstl, James McLaren and William D. Lautman
(collectively, the "General Partners").
(b) The address of the principal business and principal office of (i)
EGS Associates, EGS Partners, Bev Partners, Jonas Partners, and each of the
General Partners is 300 Park Avenue, 21st Floor, New York, New York 10022
(c) The principal business of each of EGS Associates, Bev Partners,
and Jonas Partners is that of a private investment partnership, engaging in
the purchase and sale of securities for investment for its own account. The
principal business of EGS Partners is that of a registered investment adviser
under the Investment Advisers Act of 1940, as amended, engaging in the
purchase and sale of securities for investment on behalf of discretionary
accounts. The present principal occupations of the General Partners are as
general partners of EGS Associates, Bev Partners, and Jonas Partners and
members of EGS Partners.
(d) None of the persons referred to in paragraph (a) above has,
during the last five years, been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors).
(e) None of the persons referred to in paragraph (a) above has,
during the last five years, been a party to a civil proceeding of a judicial
Page 12 of 23 Pages
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.
(f) Each of the individuals referred to in paragraph (a) above is a
United States citizen. EGS Associates, Bev Partners, and Jonas Partners are
Delaware limited partnerships. EGS Partners is a Delaware limited liability
company.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The net investment cost (including commissions, if any) of the shares of
Common Stock beneficially owned by EGS Associates, EGS Partners, Bev Partners,
and Jonas Partners is approximately $964,928, $2,394,427, $489,948, and
$79,875, respectively.
The net investment cost (excluding commissions, if any) of the shares of
Common Stock owned directly by Mr. Ketcher is approximately $46,880.
The net investment cost (excluding commissions, if any) of the shares of
Common Stock owned directly by Mr. Ehrman and his immediate family is
approximately $136,890.
Messrs. Gerstl, Greenberg, McLaren and Lautman currently own no shares of
Common Stock.
The shares of Common Stock purchased by each of EGS Associates, Bev
Partners, and Jonas Partners were purchased with the investment capital of the
respective entities. The shares of Common Stock purchased by EGS Partners
were purchased with the investment capital of discretionary accounts under its
management. The shares of Common Stock purchased by Mr. Ketcher and by Mr.
Ehrman and his immediate family were purchased with personal funds.
The shares of Common Stock beneficially owned by EGS Associates, EGS
Partners, Bev Partners, and Jonas Partners are held in their respective
commingled margin accounts, or in the case of EGS Partners, in margin and non-
margin accounts held by each discretionary account under its management. Such
margin accounts are maintained at NationsBank Montgomery, and may from time to
time have debit balances. Since other securities are held in such margin
accounts, it is not possible to determine the amounts, if any, of margin used
with respect to the shares of Common Stock purchased. Non-margin accounts are
maintained at Bankers Trust Company. The shares owned by Mr. Ketcher and by
Mr. Ehrman and his immediate family are held in accounts maintained at
NationsBank Montgomery. Currently, the interest rate charged on such various
margin accounts is approximately 7% per annum.
ITEM 4. PURPOSE OF THE TRANSACTION.
The purpose of the acquisition of the shares of the Common Stock by the
Reporting Persons was for investment. Each may make further purchases of the
Common Stock from time to time and may dipose of any or all of the shares of
Common Stock held by it or him at any time.
None of the Reporting Persons has any plans or proposals which relate to,
or could result in, any of the matters referred to in paragraphs (b) through
(j), inclusive, of Item 4 of Schedule 13D. Such entities and persons may, at
any time and from time to time, review or reconsider their position with
respect to the Company, and formulate plans or proposals with respect to any
of such matters, but have no present intention of doing so.
Page 13 of 23 Pages
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The approximate aggregate percentage of shares of Common Stock
reported beneficially owned by each person herein is based on 8,829,275 shares
outstanding, which is the total number of shares of Common Stock outstanding
as of November 13, 1997, as reflected in the company's quarterly report on
Form 10-Q filed with the Securities and Exchange Commission (the "Commission")
for the fiscal quarter ended September 30, 1997 (which is the most recent Form
10-Q on file).
As of the close of business on November 28, 1997:
(i) EGS Associates owns beneficially 212,660 shares of Common
Stock, constituting approximately 2.41% of the shares outstanding.
(ii) EGS Partners owns directly no shares of Common Stock. By
reason of the provisions of Rule 13D-3 of the Securities Exchange Act of 1934,
as amended (the "Act"), EGS Partners may be deemed to own beneficially 451,450
shares, constituting approximately 5.11% of the shares outstanding, purchased
for discretionary accounts managed by it.
(iii) Bev Partners owns beneficially 99,390 shares of Common
Stock, constituting approximately 1.13% of the shares outstanding.
(iv) Jonas Partners owns 18,000 shares of Common Stock,
constituting less than 1% of the shares outstanding.
(v) Mr. Ehrman owns beneficially through ownership by himself
and members of his immediate family, 30,000 shares of Common Stock,
constituting less than 1% of the shares outstanding.
(vi) Mr. Ketcher owns beneficially through ownership by
himself 10,000 shares of Common Stock, constituting less than 1% of the shares
outstanding.
(vii) Messrs. Gerstl, Greenberg, McLaren and Lautman own
directly no shares of Common Stock.
By reason of the provisions of Rule 13D-3 of the Act, each of the
General Partners may be deemed to own the 212,660 shares beneficially owned by
EGS Associates, the 451,450 shares beneficially owned by EGS Partners, the
99,390 shares beneficially owned by Bev Partners, and the 18,000 shares
beneficially owned by Jonas Partners. When the shares beneficially owned by
EGS Associates, EGS Partners, Bev Partners, and Jonas Partners are
aggregated, they total 781,500 shares of Common Stock, constituting
approximately 8.85% of the shares outstanding.
(viii) In the aggregate, the Reporting Persons beneficially own
a total of 821,500 shares of Common Stock, constituting approximately 9.30% of
the shares outstanding.
(b) (i) Each of EGS Associates, EGS Partners, Bev Partners,
and Jonas Partners has the power to vote on all of the shares of Common Stock,
except for 6,950 shares held by one of the discretionary accounts, and to
dispose of all of the shares of Common Stock beneficially owned by it, which
power may be exercised by the General Partners. Each of the discretionary
accounts is a party to an investment management agreement with EGS Partners
pursuant to which EGS Partners has investment authority with respect to
securities held in such account.
(ii) Mr. Ehrman has no power to vote and shared power to
dispose of shares owned by his immediate family and Mr. Ketcher has the sole
power to vote and dispose of the shares owned directly by him.
Page 14 of 23 Pages
(c) The trading dates, number of shares of Common Stock
purchased or sold and price per share for all transactions in the Common Stock
from the 60th day prior to July 8, 1997 until November 28, 1997 by EGS
Associates, EGS Partners, Bev Partners, Jonas Partners, William Ehrman and
Frederick Ketcher are set forth in Schedules A, B, C, D, E and F,
respectively, and were effected in the over-the-counter market and in private
placements. During such period, Messrs. Greenberg, Gerstl, McLaren and
Lautman, did not enter into any transactions in the Common Stock.
(d) No person other than each respective record owner of shares
of Common Stock referred to herein is known to have the right to receive or
the power to direct the receipt of dividends from or the proceeds of sale of
such shares of Common Stock.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
There are no contracts, arrangements, understandings or relationships
(legal or otherwise) among the persons named in Item 2 hereof or between such
persons and any other person with respect to any securities of the Issuer
including but not limited to transfer or voting of any other securities,
finder's fees, joint ventures, loan or option arrangements, puts or calls,
guarantees of profits, divisions of profits or losses, or the giving or
withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
The following exhibit is being filed with this Schedule:
Exhibit 1 A written agreement relating to the filing of joint acquisition
statements as required by Rule 13D-1(f)(1) of the Act.
Page 15 of 23 Pages
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
DATED: ------------------------ ---------------------------------------
William Ehrman, individually and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
JONAS PARTNERS, L.P., and as a member
of EGS PARTNERS, L.L.C.
---------------------------------------
Frederic Greenberg, individually and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
JONAS PARTNERS, L.P. and as a member of
EGS PARTNERS, L.L.C.
---------------------------------------
Frederick Ketcher, individually and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
JONAS PARTNERS, L.P. and as a member of
EGS PARTNERS, L.L.C.
---------------------------------------
Jonas Gerstl, individually and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
JONAS PARTNERS, L.P. and as a member of
EGS PARTNERS, L.L.C.
---------------------------------------
James McLaren, individually and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
JONAS PARTNERS, L.P. and as a member of
EGS PARTNERS, L.L.C.
---------------------------------------
William D. Lautman, individually and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
JONAS PARTNERS, L.P. and as a member of
EGS PARTNERS, L.L.C.
Page 16 of 23 Pages
Schedule A
EGS Associates, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
- --------------------------------------------------------------------------
6/12/97 7,020 $4.63
6/23/97 17,300 $4.50
8/20/97 12,500 $4.75
11/21/97 5,000 $5.75
Page 17 of 23 Pages
Schedule B
EGS Partners, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
- --------------------------------------------------------------------------
6/16/97 1,500 $4.63
6/23/97 250 $4.50
6/24/97 20,000 $4.44
6/25/97 5,000 $4.44
6/27/97 15,000 $4.50
6/30/97 25,000 $4.44
7/8/97 40,000 $4.44
7/8/97 10,000 $4.50
7/9/97 40,000 $4.67
7/10/97 27,500 $4.92
7/18/97 20,000 $5.19
7/25/97 4,000 $5.00
7/28/97 16,000 $5.00
7/30/97 10,000 $5.00
8/4/97 30,000 $4.81
8/8/97 5,000 $4.52
8/28/97 15,000 $5.06
8/29/97 7,000 $5.00
10/2/97 25,000 $6.00
10/3/97 25,000 $6.00
10/21/97 10,000 $6.63
10/23/97 10,000 $6.63
10/24/97 20,000 $6.56
10/28/97 10,000 $6.00
11/5/97 10,000 $5.88
11/13/97 15,000 $5.88
11/17/97 10,000 $6.00
11/21/97 15,000 $5.57
11/24/97 5,000 $5.62
Page 18 of 23 Pages
Schedule C
Bev Partners, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
- --------------------------------------------------------------------------
6/12/97 2,980 $4.63
6/23/97 7,450 $4.50
10/21/97 15,000 $6.69
10/23/97 5,000 $6.63
Page 19 of 23 Pages
Schedule D
Jonas Partners, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
- --------------------------------------------------------------------------
7/8/97 18,000 $4.44
Page 20 of 23 Pages
Schedule E
William Ehrman
Transactions in the Common Stock
Price Per Share
Date of Number of (excluding
Transaction Shares Purchased/(Sold) Commissions, if any)
- --------------------------------------------------------------------------
5/12/97 15,000 $4.56
5/12/97 15,000* $4.56
- ----------------------
* Shares held in an account for the benefit of Mr. Ehrman's wife.
Page 21 of 23 Pages
Schedule F
Frederick Ketcher
Transactions in the Common Stock
Price Per Share
Date of Number of (excluding
Transaction Shares Purchased/(Sold) Commissions, if any)
- --------------------------------------------------------------------------
5/30/97 10,000 $4.69
Page 22 of 23 Pages
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13D-1(f) 1
The undersigned acknowledge and agree that the foregoing statement on Schedule
13D, as amended, is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13D, as amended, shall be
filed on behalf of each of the undersigned without the necessity of filing
additional joint acquisition statements. The undersigned acknowledge that
each shall be responsible for the timely filing of such amendments, and for
the completeness and accuracy of the information concerning him or it
contained therein, but shall not be responsible for the completeness and
accuracy of the information concerning the other, except to the extent that he
or it knows or has reason to believe that such information is inaccurate.
DATED: ------------------------
---------------------------------------
William Ehrman, individually and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
and JONAS PARTNERS, L.P., and as a
member of EGS PARTNERS, L.L.C.
---------------------------------------
Frederic Greenberg, individually and
as general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
and JONAS PARTNERS, L.P., and as a
member of EGS PARTNERS, L.L.C.
---------------------------------------
Frederick Ketcher, individually and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
and JONAS PARTNERS, L.P., and as a
member of EGS PARTNERS, L.L.C.
---------------------------------------
Jonas Gerstl, individually and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
and JONAS PARTNERS, L.P., and as a
member of EGS PARTNERS, L.L.C.
---------------------------------------
James McLaren, individually and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
and JONAS PARTNERS, L.P., and as a
member of EGS PARTNERS, L.L.C.
---------------------------------------
William D. Lautman, individually
and as general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
and JONAS PARTNERS, L.P., and as a
member of EGS PARTNERS, L.L.C.
Page 23 of 23 Pages
(..continued)
