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SECURITIES AND EXCHANGE COMMISSION
Washington, D.c. 20549
SCHEDULE 13D/A
(Rule 13D-101)
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 - Final Amendment)
SAFETY COMPONENTS INTERNATIONAL, INC.
(Name of Issuer)
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Common Stock, Par Value $0.01 Per Share
(Title of Class of Securities)
----------------
786474
(Cusip Number of Class of Securities)
----------------
ANDREW SUTTON
BRERA CAPITAL PARTNERS LIMITED PARTNERSHIP
712 FIFTH AVENUE, 34TH FLOOR
NEW YORK, NEW YORK 10019
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
Copy To:
PETER C. KRUPP, ESQ.
SKADDEN, ARPS, SLATE, MEAGHER & FLOM (ILLINOIS)
333 WEST WACKER DRIVE
CHICAGO, ILLINOIS 60606
(312) 407-0700
MAY 4, 1999
(Date of Event Which Requires Filing of Statement On Schedule 13D)
- ----------------------
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 statement because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check
the following box: [ ]
The information required in the remainder of this cover page shall
not be deemed to be "filed" for the 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).
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CUSIP No. 786474 13D
NAMES OF REPORTING PERSONS: BCP INVESTORS, LLC
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS:
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP.
(a) |x| (b) |_|
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS:
NOT APPLICABLE
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION:
STATE OF DELAWARE
- ------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES NONE
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH NONE
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH NONE
10 SHARED DISPOSITIVE POWER
NONE
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
NONE
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES
|_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ------------------------------------------------------------------------------
CUSIP No. 786474 13D
NAMES OF REPORTING PERSONS: BRERA CAPITAL PARTNERS LIMITED PARTNERSHIP
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS:
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP.
(a) |x| (b) |_|
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS:
NOT APPLICABLE
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION:
STATE OF DELAWARE
- ------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES NONE
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH NONE
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH NONE
10 SHARED DISPOSITIVE POWER
NONE
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
NONE
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES
|_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC AND PN
- ------------------------------------------------------------------------------
CUSIP No. 786474 13D
NAMES OF REPORTING PERSONS: BRERA SCI, LLC
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS:
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP.
(a) |x| (b) |_|
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS:
NOT APPLICABLE
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION:
STATE OF DELAWARE
- ------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES NONE
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH NONE
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH NONE
10 SHARED DISPOSITIVE POWER
NONE
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
NONE
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES
|_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC AND OO
- ------------------------------------------------------------------------------
CUSIP No. 786474 13D
NAMES OF REPORTING PERSONS: ALBERTO CRIBIORE
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS:
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP.
(a) |x| (b) |_|
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS:
NOT APPLICABLE
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION:
Italy
- ------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES NONE
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH NONE
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH NONE
10 SHARED DISPOSITIVE POWER
NONE
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
NONE
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES
|_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ------------------------------------------------------------------------------
CUSIP No. 786474 13D
NAMES OF REPORTING PERSONS: GORDON MCMAHON
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS:
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP.
(a) |x| (b) |_|
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS:
NOT APPLICABLE
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION:
UNITED STATES
- ------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES NONE
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH NONE
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH NONE
10 SHARED DISPOSITIVE POWER
NONE
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
NONE
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES
|_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ------------------------------------------------------------------------------
CUSIP No. 786474 13D
NAMES OF REPORTING PERSONS: JUN TSUSAKA
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS:
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP.
(a) |x| (b) |_|
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS:
NOT APPLICABLE
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION:
JAPAN
- ------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES NONE
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH NONE
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH NONE
10 SHARED DISPOSITIVE POWER
NONE
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
NONE
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES
|_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ------------------------------------------------------------------------------
This Amendment No. 1 to the Schedule 13D (this "Amendment") amends
and supplements the Statement on Schedule 13D originally filed on April 12,
1999 (the "Schedule 13D"), by BCP Investors, LLC, a Delaware limited
liability company, Brera Capital Partners Limited Partnership, a Delaware
limited partnership, and Brera SCI, LLC, a Delaware limited liability
company ("Brera SCI") and Alberto Cribiore, Gordon McMahon and Jun Tsusaka,
the members of Brera LLC. Brera LLC, Brera Partners, Brera SCI and the
Executive Personnel are collectively referred to herein as the "Filing
Parties."
Unless otherwise defined herein, all capitalized terms used in this
Amendment shall have the meanings attributed to them in the Schedule 13D.
This Amendment constitutes the final amendment to the Schedule 13D.
Brera SCI and the Company entered into the Investment Agreement on
March 31, 1999, pursuant to which Brera SCI agreed to purchase the Series A
Preferred Stock for aggregate consideration of $28 million in cash. Brera
SCI also entered into the Purchase Agreement with Francis X. Suozzi to
purchase 325,801 shares of Common Stock from Mr. Suozzi for $3,258,010,
subject to the transactions contemplated by the Investment Agreement being
effected.
The Investment Agreement provides that it may be terminated by the
mutual agreement of Brera SCI and the Company.
Item 5. Interest in Securities of the Issuer.
(a), (b), (e) By virtue of the execution of the Investment Agreement
and the Purchase Agreement, the Filing Parties may have been deemed to
beneficially own up to 2,659,134 shares of Common Stock, representing in
the aggregate approximately 35.6% of the outstanding shares of Common Stock
(based on the number of shares of Common Stock represented by the Company
in the Investment Agreement to be outstanding as of March 31, 1999 plus
such 2,659,134 shares). Pursuant to the Voting Agreements, Brera SCI had
the ability to vote an additional 2,037,776 shares of Common Stock with
respect to the matters set forth therein and pursuant to the Stockholders
Agreement Brera SCI had a right of first refusal with respect to 976,576
shares of Common Stock owned by Robert A. Zummo.
As set forth in the May 4 press release, attached hereto as Exhibit
11, the Filing Parties and the Company mutually agreed to terminate the
above transactions. The Filing Parties therefore beneficially own no shares
of the Company.
Item 7. Material to be Filed as Exhibits
Item 7 is hereby amended to add the following exhibit:
Exhibit 11 Press Release of Safety Components International, Inc. dated
May 4, 1999.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true,
complete and correct.
Dated: May 6, 1999
BRERA SCI, LLC
By: /s/ Jun Tsusaka
-------------------------------------
Name: Jun Tsusaka
Title: Authorized Signatory
BRERA CAPITAL PARTNERS LIMITED
PARTNERSHIP
By: Brera Investors, LLC, its General
Partner
By: /s/ Jun Tsusaka
------------------------------------
Name: Jun Tsusaka
Title: Member
BCP INVESTORS, LLC
By: /s/ Jun Tsusaka
------------------------------------
Name: Jun Tsusaka
Title: Member
ALBERTO CRIBIORE
/s/ Alberto Cribiore
---------------------------------------
GORDON MCMAHON
/s/ Gordon McMahon
--------------------------------------
JUN TSUSAKA
/s/ Jun Tsusaka
--------------------------------------
EXHIBIT INDEX
Exhibit
Number Exhibit
- ------- -------
Exhibit 11 Press Release of Safety Components International, Inc.
dated May 4, 1999.
Exhibit 11
Safety Components International, Inc. Announces Termination of
Agreement with Brera Capital Partners, LLC
FORT LEE, N.J., May 4, 1999 - Safety Components International, Inc.
(Nasdaq: ABAG) one of the world's leading manufacturers of airbag fabric
and cushions, today announced that the Company and Brera Capital Partners,
LLC had mutually agreed to terminate their March 31, 1999 agreement which
would have provided for a $28 million preferred stock investment by Brera
in the Company.
Robert A. Zummo, Chairman and Chief Executive of the Company stated: "While
the transaction with Brera could not be consummated, we remain in
discussions to determine whether there is any alternative transaction that
would be acceptable to both parties. There can be no assurance that any
alternative transaction can be agreed upon."
Mr. Zummo also noted that "disappointing results from our metal component
business, internal production problems at one of our European customers
which caused it to temporarily curtail orders, and ramp up costs associated
with the substantial growth in our worldwide airbag operations during
fiscal 1999, are expected to result in a loss for the fourth quarter. I am
pleased to report, however, that I believe the worst is behind us. We have
addressed the problems in our metal components business by implementing a
substantial cost reduction program; I believe that our European customer
has solved its internal problems and that our orders from that customer are
returning to normal levels; and the ramp up costs which we incurred, as our
airbag production levels more than doubled from 6.6 million airbags
cushions in 1998 to a run rate of approximately 14 million at the end of
fiscal 1999, appear to be substantially behind us."
"I am confident," Mr. Zummo continued,"that we will return to
profitability in fiscal 2000 with EBITDA levels exceeding 1998 levels.
I am enthusiastic about the impact that our new Chief Operating Officer,
John C. Corey, has already had on our operations. With his assistance, we
are restructuring our manufacturing operations to improve financial
performance. As a direct result of this restructuring, we are implementing
a lean manufacturing program which, among other things, should enable us to
satisfy our anticipated growth in worldwide airbag production without
building a new facility in Eastern Europe as we had previously anticipated.
We anticipate that this program will result in a reduction of our capital
expenditure budget for fiscal 2000 of approximately $10 million. While
there are many challenges that lie ahead of us, I believe that the
foundation we have laid will enable us to continue to build market share
and that enhancements in shareholder value will naturally follow."
This release contains forward-looking statements. There are certain
important factors that could cause results to materially differ from those
anticipated from the statements above. These factors include, but are not
limited to: the Company's ability to obtain financing to fund growth;
worldwide economic conditions; automotive industry trends; the marketplace
for airbag related products; approval of automobile manufacturers of airbag
cushions currently in production by the Company; the absence of internal
problems of customers such as labor or manufacturing problems which
adversely impact the Company; pricing pressures; the ability of the Company
to implement its lean manufacturing program and effectively control costs
and to satisfy customers on timeliness and quality. Additional information on
these and other factors that could potentially affect the Company's financial
results may be found in the Company's filings with the Securities and Exchange
Commission.
Safety Components International, Inc. is a leading, low-cost supplier of
automotive airbag fabric and cushions with operations in North America,
Europe and Asia. The Company is also a leading manufacturer of value-added
synthetic fabrics used in a variety of niche industrial and commercial
applications. In addition, Safety Components supplies metal airbag
components to its airbag customers utilizing its machining and stamping
capabilities gained from years of experience as a military ordnance
manufacturer and continues as a systems integrator and manufacturer for
ordnance program.
