SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 9)
SPS Technologies, Inc.
____________________________________________________________
(Name of Issuer)
Common Stock, Par Value $1.00 Per Share
____________________________________________________________
(Title of Class and Securities)
784626 10 3
___________________________________________________________
(CUSIP Number of Class of Securities)
John F. Keane
Tinicum Enterprises, Inc.
990 Stewart Avenue
Garden City, New York 11530
(516) 222-2874
_____________________________________________________________
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
Copy to:
Paul T. Schnell, Esq.
Skadden, Arps, Slate, Meagher & Flom
919 Third Avenue
New York, New York 10022
(212) 735-3000
December 31, 1994
____________________________________________________________
(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 Statement because of Rule d-1(b)(3) or
(4), check the following box: ( )
Check the following box if a fee is being paid with this
Statement: ( )
SCHEDULE 13D
CUSIP No. 784626 10 3
_________________________________________________________________
(1) NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
TINICUM ENTERPRISES, INC. 13-3506390
_________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) ( )
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
WC, BK
_________________________________________________________________
(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
_________________________________________________________________
(7) SOLE VOTING POWER
NUMBER OF 0
SHARES ___________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 0
EACH ___________________________________
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON 0
WITH ___________________________________
(10) SHARED DISPOSITIVE POWER
0
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES* ( )
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.0%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
CO
_________________________________________________________________
SCHEDULE 13D
CUSIP No. 784626 10 3
_________________________________________________________________
(1) NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
TINICUM INVESTORS 13-3800339
_________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) ( )
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
WC, BK
_________________________________________________________________
(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
_________________________________________________________________
(7) SOLE VOTING POWER
NUMBER OF 581,569
SHARES ___________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 0
EACH ___________________________________
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON 581,569
WITH ___________________________________
(10) SHARED DISPOSITIVE POWER
0
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
581,569
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES* ( )
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
10.32%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
PN
_________________________________________________________________
SCHEDULE 13D
CUSIP No. 784626 10 3
_________________________________________________________________
(1) NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
RUTCO INCORPORATED 13-3527510
_________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) ( )
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
WC, BK
_________________________________________________________________
(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
_________________________________________________________________
(7) SOLE VOTING POWER
NUMBER OF 0
SHARES ___________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 0
EACH ___________________________________
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON 0
WITH ___________________________________
(10) SHARED DISPOSITIVE POWER
0
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES* ( )
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.0%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
CO
_________________________________________________________________
SCHEDULE 13D
CUSIP No. 784626 10 3
_________________________________________________________________
(1) NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
RIT CAPITAL PARTNERS plc
_________________________________________________________________
(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 ITEMS 2(d) or 2(e) ( )
__________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED KINGDOM
_________________________________________________________________
(7) SOLE VOTING POWER
NUMBER OF 0
SHARES ___________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 132,311
EACH ___________________________________
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON 0
WITH ___________________________________
(10) SHARED DISPOSITIVE POWER
132,311
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
132,311
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES* ( )
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
2.35%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
IV
_________________________________________________________________
SCHEDULE 13D
CUSIP No. 784626 10 3
_________________________________________________________________
(1) NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
PUTNAM L. CRAFTS, JR. ###-##-####
_________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) ( )
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
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
_________________________________________________________________
(7) SOLE VOTING POWER
NUMBER OF 100,000
SHARES ___________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 0
EACH ___________________________________
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON 100,000
WITH ___________________________________
(10) SHARED DISPOSITIVE POWER
0
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,000
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES* ( )
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
1.77%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
IN
_________________________________________________________________
SCHEDULE 13D
CUSIP No. 784626 10 3
_________________________________________________________________
(1) NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
JAMES H. KASSCHAU ###-##-####
_________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) ( )
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
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
_________________________________________________________________
(7) SOLE VOTING POWER
NUMBER OF 10,000
SHARES ___________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 0
EACH ___________________________________
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON 10,000
WITH ___________________________________
(10) SHARED DISPOSITIVE POWER
0
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,000
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES* ( )
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.18%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
IN
_________________________________________________________________
This statement amends and supplements the State-
ment on Schedule 13D (the "Schedule 13D") filed with the
Securities and Exchange Commission (the "Commission") by
Tinicum Enterprises, Inc., a Delaware corporation, Tinicum
Investors, a Delaware general partnership, RUTCO Incorporat-
ed, a Delaware corporation, RIT Capital Partners plc, a
United Kingdom corporation, J. Rothschild Capital Management
Limited, a United Kingdom corporation, St. James's Place
Capital plc, a United Kingdom corporation, Mr. Putnam L.
Crafts, Jr. and Mr. James H. Kasschau in connection with
their ownership of shares of common stock, par value $1.00
per share (the "Shares"), of SPS Technologies, Inc., a
Pennsylvania corporation. Unless otherwise defined herein,
all capitalized terms used herein shall have the meanings
ascribed to them in the Schedule 13D.
ITEM 2. IDENTITY AND BACKGROUND.
Item 2 is hereby amended and supplemented by adding the
following:
In connection with a reorganization of Enterpris-
es, Investors and RUTCO (the "Tinicum Reorganization"), all
of the Shares held by Enterprises, Investors and RUTCO were
transferred on December 31, 1994 to a newly-formed Delaware
general partnership also known as Tinicum Investors ("Inves-
tors II"). Thereafter, Investors was liquidated and dis-
solved and, as a result, is no longer deemed to be a report-
ing person for purposes of Rule 13d-1 of the General Rules
and Regulations of the Exchange Act. Hereinafter, "Reporting
Persons" and "Tinicum Reporting Persons" shall no longer
include Investors but shall include Investors II. Investors
II is a private investment company. The managing partners of
Investors II are Eric M. Ruttenberg and Derald H.
Ruttenberg. The other partners of Investors II are RUTCO,
Derald H. Ruttenberg, John C. Ruttenberg, Eric M.
Ruttenberg, Katherine T. Ruttenberg, Hattie Ruttenberg,
RUTCO, Enterprises, Tinicum Associates, Inc. and Tinicum
Foreign Investments Corporation. Tinicum acts as a manage-
ment company for Investors II and other affiliated entities.
The address of the principal place of business and of
the principal office of Investors II is 990 Stewart Avenue, Garden
City, New York 11530.
During the last five years, neither Investors II nor,
to the best knowledge of Investors II, any of its partners, has
(i) been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) or (ii) 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 violation with respect
to such laws.
ITEM 5. INTEREST AND SECURITIES OF THE ISSUER.
Item 5(a) is hereby amended and supplemented by adding
the following:
As of the close of business on January 3, 1995,
the Reporting Persons beneficially owned in the aggregate
823,880 Shares, which represent approximately 14.62% of the
5,636,359 Shares outstanding on such date. In accordance
with Rule 13d-5(b)(1) of the General Rules and Regulations
under the Exchange Act, Enterprises, Investors II, RUTCO,
RIT, JRCML, SJPC, Mr. Crafts and Mr. Kasschau as a group may
be deemed to beneficially own such Shares. As of the close
of business on January 3, 1995, Enterprises, Investors II,
RUTCO, RIT, JRCML, SJPC, Mr. Crafts and Mr. Kasschau have
direct beneficial ownership of 0, 581,569, 0, 132,311, 0, 0,
100,000 and 10,000 Shares, respectively.
Item 5(b) is hereby amended and supplemented by adding
the following:
Each of the Tinicum Reporting Persons has the sole
power to vote or to direct the vote and the sole power to
dispose or to direct the disposition of the Shares of which
it has direct beneficial ownership.
Item 5(c) is hereby amended and supplemented by adding
the following:
Investors acquired on the open market, on December
30, 1994, 13,100 Shares at a price of $25.45 per Share
(excluding commissions), for total consideration of approxi-
mately $332,719 (excluding commissions).
In connection with the Tinicum Reorganization,
Enterprises, Investors and RUTCO transferred 265,880,
265,334 and 50,355 Shares, respectively, to the partnership
equity of Investors II in exchange for partnership interests
in Investors II.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Item 7 is hereby amended and supplemented by adding the
following exhibits:
Exhibit 14: Amended and Restated Joint Filing Agree-
ment, dated as of January 5, 1995, by and among the Report-
ing Persons.
SIGNATURE
After reasonable inquiry and to the best of its
knowledge and belief, the undersigned certifies that the
information set forth in this statement is true, complete
and correct.
Dated: January 4, 1995
TINICUM ENTERPRISES, INC.
By: /s/ James H. Kasschau
James H. Kasschau
President
SIGNATURE
After reasonable inquiry and to the best of its
knowledge and belief, the undersigned certifies that the
information set forth in this statement is true, complete
and correct.
Dated: January 4, 1995
TINICUM INVESTORS
By: /s/ Eric M. Ruttenberg
Eric M. Ruttenberg
Managing Partner
SIGNATURE
After reasonable inquiry and to the best of its
knowledge and belief, the undersigned certifies that the
information set forth in this statement is true, complete
and correct.
Dated: January 4, 1995
RUTCO INCORPORATED
By: /s/ James H. Kasschau
James H. Kasschau
President
SIGNATURE
After reasonable inquiry and to the best of its
knowledge and belief, the undersigned certifies that the
information set forth in this statement is true, complete
and correct.
Dated: January 4, 1995
RIT CAPITAL PARTNERS plc
By: /s/ J.W.P. Johnston
J.W.P. Johnston
Alternate Director for The Hon. C.P. Gibson
SIGNATURE
After reasonable inquiry and to the best of its
knowledge and belief, the undersigned certifies that the
information set forth in this statement is true, complete
and correct.
Dated: January 4, 1995
J. ROTHSCHILD CAPITAL MANAGEMENT LIMITED
By: /s/ J.W.P. Johnston
J.W.P. Johnston
Alternate Director for The Hon. C.P. Gibson
SIGNATURE
After reasonable inquiry and to the best of its
knowledge and belief, the undersigned certifies that the
information set forth in this statement is true, complete
and correct.
Dated: January 4, 1995
ST. JAMES'S PLACE CAPITAL plc
By: /s/ J.W.P. Johnston
J.W.P. Johnston
Company Secretary
SIGNATURE
After reasonable inquiry and to the best of its
knowledge and belief, the undersigned certifies that the
information set forth in this statement is true, complete
and correct.
Dated: January 4, 1995
/s/ Putnam L. Crafts, Jr.
Putnam L. Crafts, Jr.
SIGNATURE
After reasonable inquiry and to the best of its
knowledge and belief, the undersigned certifies that the
information set forth in this statement is true, complete
and correct.
Dated: January 4, 1995
/s/ James H. Kasschau
James H. Kasschau
EXHIBIT INDEX
Exhibit Description Page
Exhibit 14 Amended and Restated Joint
Filing Agreement, dated as
of January 5, 1995, by and
among the Reporting Persons.
Exhibit 14
AMENDED AND RESTATED JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) promulgated
under the Securities Exchange Act of 1934, as amended,
the undersigned hereby agree to the joint filing with all
other Reporting Persons (as such term is defined in the
Schedule 13D referred to below) on behalf of each of them
of a Statement on Schedule 13D (including any amendments
thereto) with respect to the common stock, par value
$1.00 per share, of SPS Technologies, Inc., a
Pennsylvania corporation. The undersigned further
consent and agree to the inclusion of this Agreement as
an Exhibit to such Schedule 13D. This Agreement may be
executed in any number of counterparts, all of which
taken together shall constitute one and the same
instrument.
IN WITNESS WHEREOF, the undersigned have
executed this agreement as of the 5th day of January,
1995.
TINICUM ENTERPRISES, INC.
By: /s/ James H. Kasschau
James H. Kasschau
President
TINICUM INVESTORS
By: /s/ Eric M. Ruttenberg
Eric M. Ruttenberg
Managing Partner
RUTCO INCORPORATED
By: /s/ James H. Kasschau
James H. Kasschau
President
RIT CAPITAL PARTNERS plc
By: /s/ J.W.P. Johnston
J.W.P. Johnston
Alternate Director for The Hon. C.P. Gibson
J. ROTHSCHILD CAPITAL MANAGEMENT LIMITED
By: /s/ J.W.P. Johnston
J.W.P. Johnston
Alternate Director for The Hon. C.P. Gibson
ST. JAMES'S PLACE CAPITAL plc
By: /s/ J.W.P. Johnston
J.W.P. Johnston
Company Secretary
/s/ Putnam L. Crafts, Jr.
PUTNAM L. CRAFTS, JR.
/s/ James H. Kasschau
JAMES H. KASSCHAU
