<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Polymer Group, Inc.
---------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
-----------------------------------------------------
(Title of Class of Securities)
731745 10 5
-----------------------------------------------------------------
(CUSIP Number)
Copy to:
<TABLE>
<S> <C>
Jerry Zucker H. Kurt von Moltke
The InterTech Group, Inc. Kirkland & Ellis
FTG, Inc. 200 E. Randolph Drive
4838 Jenkins Avenue Chicago, Illinois 60601
North Charleston, South Carolina 29405 (312) 861-2000
(803) 744-5174
</TABLE>
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 11, 2000
---------------------------------------------------------------------
(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 [_].
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
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following pages)
Page 1 of 11 Pages
<PAGE>
SCHEDULE 13D
--------------------- --------------------
CUSIP NO. 731745105 Page 2 of 11 Pages
--------------------- --------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
Jerry Zucker
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: [ ]
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) or 2(E) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 3,378,679 (See Item 5)
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,869,748 (See Item 5)
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 3,378,679 (See Item 5)
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,869,748 (See Item 5)
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
7,248,427 (See Item 5)
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[X]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
21.6% (See Item 5)
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
--------------------- --------------------
CUSIP NO. 731745105 Page 3 of 11 Pages
--------------------- --------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
The InterTech Group, Inc.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: [ ]
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable (See Item 3)
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) or 2(E) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
South Carolina
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 3,599,557 (See Item 5)
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
None (See Item 5)
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 3,599,557 (See Item 5)
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
None (See Item 5)
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,599,557 (See Item 5)
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[X]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
11.2% (See Item 5)
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
--------------------- --------------------
CUSIP NO. 731745105 Page 4 of 11 Pages
--------------------- --------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
FTG, Inc.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: [ ]
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable (See Item 3)
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
South Carolina
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 261,651 (See Item 5)
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
None (See Item 5)
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 261,651 (See Item 5)
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
None (See Item 5)
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
261,651 (See Item 5)
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[X]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.8% (See Item 5)
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This Amendment No.2 (this "Amendment No.2") amends and supplements the
statement on Schedule 13D (as previously amended and supplemented, the
"Statement") with respect to the Common Stock, par value $.10 per share (the
"Common Stock"), of Polymer Group, Inc. (the "Issuer"), as previously filed and
amended by Jerry Zucker, The InterTech Group, Inc. ("InterTech") and FTG, Inc.
("FTG") (together, the "Reporting Persons"). James G. Boyd is not a Reporting
Person for purposes of this form, but information on Mr. Boyd is provided by
virtue of the fact that he is Executive Vice President, Treasurer, Secretary and
a Director of both InterTech and FTG.
Capitalized terms used but defined herein shall have the meanings
ascribed to them in the Statement. Except as indicated herein, the information
set forth in the Statement remains unchanged.
Item 2. Identity and Background.
-----------------------
Item 2 is hereby amended to incorporate by reference the amended
Exhibit A, which is filed as an exhibit to this Amendment No. 2.
Item 3. Source and Amount of Funds or Other Consideration.
-------------------------------------------------
On August 1, 2000, Mr. Zucker purchased an aggregate of 5,000 shares
of Common Stock, and on August 4, 2000 Mr. Zucker purchased an
aggregate of 5,000 shares of Common Stock, in each case using person
funds. As reported in Mr. Zucker's Form 5 dated February 14, 2000,
under the Issuer's 1996 Key Employee Stock Option Plan (the "Plan"),
Mr. Zucker holds options to purchase 100,000 shares of Common Stock
(at a purchase price of $12.00 per share), which options vest in five
equal annual installments beginning on August 11, 2000. In addition,
as reported in Amendment No. 1 to the Statement, filed on November 20,
1997, under the Plan Mr. Zucker holds options to purchase 200,000
shares of Common Stock at a purchase price of $14.25 per share, which
options vest in equal annual installments beginning August 25, 1997.
Item 4. Purpose of Transaction.
----------------------
In addition to the shares of Common Stock already held by Mr. Zucker,
all of the shares purchased in August of 2000 were purchased for
investment purposes. Mr. Zucker's options to purchase Common Stock of
the Issuer were issued as an incentive for his continuing services as
Chairman, President and Chief Executive Officer of the Issuer. The
Reporting Persons may acquire additional shares of Common Stock from
time to time for investment purposes. The Reporting Persons have no
other plans or proposals which would relate to or result in any action
described in the instructions to this Item 4.
Page 5 of 11 Pages
<PAGE>
Item 5. Interest in Securities of the Issuer.
------------------------------------
(a) Amount Beneficially Owned:
The shares of Common Stock covered by this statement beneficially
owned by the Reporting Persons and Mr. Boyd are as follows:
(based on 32,004,200 shares outstanding in the case FTG and
InterTech, 32,144,200 shares in the case of Mr. Zucker and
32,064,200 shares in the case of Mr. Boyd)
<TABLE>
<CAPTION>
Shares Beneficially Percentage of
Name Owned Class
--------------- ------------------- --------------
<S> <C> <C>
Jerry Zucker 7,248,427 22.6%
---------------------------------------------------
InterTech 3,599,557 11.2%
---------------------------------------------------
FTG 261,651 0.8%
---------------------------------------------------
James G. Boyd 4,399,979 13.7%
---------------------------------------------------
</TABLE>
The shares of Common Stock reflected above include 3,378,679
shares held by Mr. Zucker (including 140,000 shares subject to
options exercisable within 60 days), 4,080 held by Mr. Zucker's
wife, 4,460 held in trust for Mr. Zucker's children, 3,599,557
shares held by InterTech, 261,651 shares held by FTG and 538,771
shares held by Mr. Boyd (including 60,000 shares subject to
options exercisable within 60 days). Mr. Zucker is Chairman,
Chief Executive Officer, a Director and the controlling
stockholder of both InterTech and FTG, and as a result shares
voting and dispositive power over the shares held by InterTech
and FTG. Mr. Boyd is the Executive Vice President, Treasurer,
Secretary, a Director and a stockholder of both InterTech and
FTG, and as a result shares voting and dispositive power over the
shares held by InterTech and FTG. Messrs. Zucker and Boyd each
expressly disclaim beneficial ownership of the shares held by
each of InterTech and FTG. Mr. Zucker disclaims beneficial
ownership of the shares held in the names of his wife and
children.
The Reporting Persons and certain other shareholders of the
Issuer parties to a Voting Agreement. The Voting Agreement
provides that the parties thereto will vote in the same manner on
certain issues, including the election of directors.
Collectively, the parties to the Voting Agreement own 15,638,592,
Page 6 of 11 Pages
<PAGE>
or 48.7%, of the outstanding shares of Common Stock. Each of the
Reporting Persons disclaims beneficial ownership of shares of
Common Stock owned by the other parties to the Voting Agreement.
Exhibit A of this Amendment No. 2, which is incorporated herein
by reference, sets forth the following information with respect
to each party to the Voting Agreement: (i) name, (ii) address of
principal business office, and (iii) the number of shares of
Common Stock owned by such party.
(b) Number of Shares as to which such person has:
(i) Sole power to vote or to direct the vote:
Jerry Zucker 3,378,679
InterTech 3,599,557
FTG 261,651
James G. Boyd 538,771
(ii) Shared power to vote or to direct the vote:
Jerry Zucker 3,869,748
James G. Boyd 3,861,208
(iii) Sole power to dispose or to direct the disposition of:
Jerry Zucker 3,378,679
InterTech 3,599,557
FTG 261,651
James G. Boyd 538,771
(iv) Shared power to dispose or to direct the disposition
of:
Jerry Zucker 3,869,748
James G. Boyd 3,861,208
The filing of this Statement shall not be construed as an
admission by Mr. Zucker, InterTech, FTG, Mr. Boyd or any party to
the Voting Agreement that such person is, for the purpose of
Section 13(d), 13(g) or any other Section of the Exchange Act,
the beneficial owner of any securities covered by this Statement.
(c) Transactions Within the Past 60 Days: In the past 60 days,
following transactions have occurred the involving the persons
named in paragraph (a) above.
Page 7 of 11 Pages
<PAGE>
<TABLE>
<CAPTION>
Person Who Effected Transaction Number of Price Per
the Transaction Date Shares Purchased Share
-------------------- ------------ ---------------- ----------
<S> <C> <C> <C>
Jerry Zucker August 1 4,000 $7.625
Jerry Zucker August 1 1,000 $ 7.50
Jerry Zucker August 4 3,000 $ 6.75
Jerry Zucker August 4 2,000 $7.125
</TABLE>
All purchases were effected through unsolicited brokers'
transactions on the New York Stock Exchange.
(d) Right to Receive or Power to Direct: No person other than the
Reporting Persons has the right to receive or the power to direct
the receipt of dividends from or the proceeds from the sale of
the Common Stock owned beneficially by any of the Reporting
Persons.
(e) Date Reporting Person Ceased to be 5% Owner: Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer.
Reference is made to the information disclosed under Items 2, 3 and 4
of the Statement and this Amendment No. 2 regarding the Voting
Agreement.
Item 7. Materials to be Filed as Exhibits.
EXHIBIT A: Exhibit A is hereby amended to incorporate by reference the
information set forth in amended Exhibit A, which is filed
herewith.
EXHIBIT E: Joint Filing Agreement among the Reporting Persons pursuant to
Rule 13d-1(f) under the Securities Exchange Act of 1934, as
amended, relating to the filing of this Amendment No. 2 to
Schedule 13D.
Page 8 of 11 Pages
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: September 21, 2000
/s/ Jerry Zucker
-----------------------------
Print Name: Jerry Zucker
The InterTech Group, Inc.
By: /s/ Jerry Zucker
-------------------------
Print Name: Jerry Zucker
Its: Chairman, President and CEO
FTG, Inc.
By: /s/ Jerry Zucker
-------------------------
Print Name: Jerry Zucker
Its: Chairman, President and CEO
Page 9 of 11 Pages
<PAGE>
Exhibit A
Parties to the Voting Agreement
-------------------------------
<TABLE>
<CAPTION>
Address of Principal Number of Shares
Name Business Office of Common Stock (a)
------------------------ --------------------------- -------------------
<S> <C> <C>
Jerry Zucker 4838 Jenkins Avenue 3,378,679
North Charleston, SC 29405
James G. Boyd 4838 Jenkins Avenue 538,771
North Charleston, SC 29405
The InterTech 4838 Jenkins Avenue 3,599,557
Group, Inc. North Charleston, SC 29405
Golder, Thoma, Cressey c/o Golder, Thoma, Cressey, 7,109,096
Fund III, L.P. Rauner, Inc.
6100 Sears Tower
Chicago, IL 60606-6402
FTG, Inc. 4838 Jenkins Avenue 261,651
North Charleston, SC 29405
Leeway & Co. c/o State Street Bank and 795,838
Trust Co.
Master Trust Division-Q4W
P.O. Box 1992
Boston, MA 02110
</TABLE>
(a) Share information provided in this Exhibit A is based on the most recent
information available to the Reporting Persons through public disclosure or
otherwise. Each Reporting Person makes no representations as to the accuracy of
information set forth herein other than for itself.
Page 10 of 11 Pages
<PAGE>
Exhibit E
SCHEDULE 13D AMENDMENT NO. 2 JOINT FILING AGREEMENT
---------------------------------------------------
The undersigned and each other person executing this joint filing
agreement (this "Agreement") agree as follows:
(i) The undersigned and each other person executing this Agreement are
individually eligible to use the Schedule 13D to which this Exhibit is attached
and this Amendment No. 2 to Schedule 13D is filed on behalf of the undersigned
and each other person executing this Agreement; and
(ii) The undersigned and each other person executing this Agreement are
responsible for the timely filing of such Schedule 13D and any amendments
thereto, and for the completeness and accuracy of the information concerning
such person contained therein; but none of the undersigned or any other person
executing this Agreement is responsible for the completeness or accuracy of the
information statement concerning any other persons making the filing, unless
such person knows or has reason to believe that such information is inaccurate.
This Agreement may be executed in any number of counterparts, each of
which shall be deemed to be an original, but all of which, taken together, shall
constitute one and the same instrument.
* * * * *
Date: September 21, 2000
/s/ Jerry Zucker
----------------------------
Print Name: Jerry Zucker
The InterTech Group, Inc.
By: /s/ Jerry Zucker
-------------------------
Print Name: Jerry Zucker
Its: Chairman, Chief Executive
Officer and President
FTG, Inc.
By: /s/ Jerry Zucker
--------------------------
Print Name: Jerry Zucker
Its: Chairman, Chief Executive Officer and
President
Page 11 of 11 Pages
