0000899140-13-000578.txt : 20131210 0000899140-13-000578.hdr.sgml : 20131210 20131210164835 ACCESSION NUMBER: 0000899140-13-000578 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20131210 DATE AS OF CHANGE: 20131210 GROUP MEMBERS: GEORGE S. LOENING GROUP MEMBERS: SELECT EQUITY GROUP INC. GROUP MEMBERS: SELECT OFFSHORE ADVISORS LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ITT EDUCATIONAL SERVICES INC CENTRAL INDEX KEY: 0000922475 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 362061311 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-44209 FILM NUMBER: 131268848 BUSINESS ADDRESS: STREET 1: 13000 NORTH MERIDIAN CITY: CARMEL STATE: IN ZIP: 46032-1404 BUSINESS PHONE: 317 706 9200 MAIL ADDRESS: STREET 1: 13000 NORTH MERIDIAN STREET STREET 2: - CITY: CARMEL STATE: IN ZIP: 46032-1404 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Select Equity Group, L.P. CENTRAL INDEX KEY: 0001592643 IRS NUMBER: 463465710 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 380 LAFAYETTE STREET STREET 2: 6TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10003 BUSINESS PHONE: 212 475-8335 MAIL ADDRESS: STREET 1: 380 LAFAYETTE STREET STREET 2: 6TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10003 SC 13G/A 1 i10846607a.htm AMENDMENT NO. 3 i10846607a.htm
 


 

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549



SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 3)*



ITT Educational Services, Inc.

(Name of Issuer)
Common Stock

(Title of Class of Securities)

45068B109

(CUSIP Number)

November 26, 2013

(Date of Event Which Requires Filing of This Statement)

 



Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 
x
Rule 13d-1(b)
 
o
Rule 13d-1(c)
 
o
Rule 13d-1(d)


*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 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).

 
 


 
 
 
 

 

 
 
CUSIP No. 45068B109
SCHEDULE 13G
Page 2 of 8 Pages

 
1
NAMES OF REPORTING PERSONS
 
Select Equity Group, L.P.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
3,135,002
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
3,135,002
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
 
3,135,002
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
13.42%
12
TYPE OF REPORTING PERSON
 
IA
 
 
 
 
2

 
 
 
CUSIP No. 45068B109
SCHEDULE 13G
Page 3 of 8 Pages

 
1
NAMES OF REPORTING PERSONS
 
Select Equity Group, Inc.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
New York
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
0
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
0
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
 
0
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
0%
12
TYPE OF REPORTING PERSON
 
IA
 
 
 
3

 
 
CUSIP No. 45068B109
SCHEDULE 13G
Page 4 of 8 Pages
 
 
1
NAMES OF REPORTING PERSONS
 
Select Offshore Advisors, LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
New York
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
0
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
0
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
 
0
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
0%
12
TYPE OF REPORTING PERSON
 
IA
 
 
 
 
4

 
 
 
CUSIP No. 45068B109
SCHEDULE 13G
Page 5 of 8 Pages
 
 
1
NAMES OF REPORTING PERSONS
 
George S. Loening
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
USA
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
3,135,002
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
3,135,002
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
 
3,135,002
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
13.42%
12
TYPE OF REPORTING PERSON
 
IN
 
 
 
5

 
 
Item 1(a)
Name of Issuer:
   
 
ITT Educational Services, Inc.
   
Item 1(b)
Address of Issuer’s Principal Executive Offices:
   
 
13000 North Meridian Street
 
Carmel, Indiana 46032-1404
   
   
Items 2(a)
Name of Person Filing:
   
 
This Schedule 13G is being filed jointly by Select Equity Group, L.P., a Delaware limited partnership (“Select LP”), Select Equity Group, Inc., a New York corporation (“Select Inc.”), Select Offshore Advisors, LLC, a New York limited liability corporation (“Select Offshore”), and George S. Loening (“Loening”), who (i) is the majority owner of Select LP and managing member of its general partner, (ii) was the controlling shareholder of Select Inc. and (iii) was the majority owner and manager of Select Offshore.  Select LP, Select Inc., Select Offshore and Loening are sometimes collectively referred to herein as the “Select Reporting Persons.”
   
Item 2(b)
Address of Principal Business Office:
   
 
The business address of each of the Select Reporting Persons is:
   
 
380 Lafayette Street, 6th Floor
 
New York, New York 10003
   
Item 2(c)
Citizenship:
   
 
George S. Loening is a United States citizen.
   
Item 2(d)
Title of Class of Securities:
   
 
Common Stock
   
Item 2(e)
CUSIP Number:
   
 
45068B109
   
   
Item 3
If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is:
 
 
(a)
o
Broker or dealer registered under Section 15 of the Act;
 
(b)
o
Bank as defined in Section 3(a)(6) of the Act;
 
(c)
o
Insurance company as defined in Section 3(a)(19) of the Act;
 
(d)
o
Investment company registered under Section 8 of the Investment Company Act of 1940;
 
(e)
x
An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
 
(f)
o
An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);
 
(g)
x
A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);
 
(h)
o
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
 
 
 
6

 
 
 
 
(i)
o
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940;
 
(j)
o
A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J);
 
(k)
o
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
 
   
Item 4
Ownership:
 
 
The information required by Items 4(a)-(c) is set forth in Rows 5-11 of the cover page hereto for each Select Reporting Person and is incorporated herein by reference for each such Select Reporting Person.
   
   
Item 5
Ownership of Five Percent or Less of a Class:
   
 
If this statement is being filed to report the fact that as of the date hereof a reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following x.
   
   
Item 6
Ownership of More than Five Percent on Behalf of Another Person:
   
 
N/A
   
   
Item 7
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company:
   
 
N/A
   
   
Item 8
Identification and Classification of Members of the Group:
   
 
N/A
   
   
Item 9
Notice of Dissolution of Group:
   
 
N/A
   
   
Item 10
Certification:
   
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
 

 
7

 

 
SIGNATURES
 
After reasonable inquiry and to the best of my knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.
 

 
SELECT EQUITY GROUP, L.P.
       
 
By: Select Equity, GP, LLC, its General Partner
       
 
By:
/s/ George S. Loening         
   
Name:
George S. Loening
   
Title:
Managing Member
       
       
 
SELECT EQUITY GROUP, INC.
       
 
By:
/s/ George S. Loening         
   
Name:
George S. Loening
   
Title:
Chairman
       
       
 
SELECT OFFSHORE ADVISORS, LLC
       
 
By:
/s/ George S. Loening         
   
Name:
George S. Loening
   
Title:
Manager
       
 
/s/ George S. Loening           
 
George S. Loening, an individual
 
 
 
Dated:  December 10, 2013
 
 
8
 

EX-99.1 2 i10846607b.htm JOINT FILING AGREEMENT i10846607b.htm
 
EXHIBIT 99.1
JOINT FILING AGREEMENT
 
 
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other  persons signatory below of a report on Schedule 13G or any amendments thereto, and to the inclusion of this Agreement as an attachment to such filing, with respect to the ownership of securities named in this Schedule 13G.
 
This Agreement may be executed in any number of counterparts each of which shall be deemed to be an original and all of which together shall be deemed to constitute one and the same Agreement.
 
IN WITNESS WHEREOF, the undersigned hereby execute this Agreement on December 10, 2013.
 
 
 
 
SELECT EQUITY GROUP, L.P.
       
 
By: Select Equity, GP, LLC, its General Partner
       
 
By:
/s/ George S. Loening         
   
Name:
George S. Loening
   
Title:
Managing Member
       
       
 
SELECT EQUITY GROUP, INC.
       
 
By:
/s/ George S. Loening         
   
Name:
George S. Loening
   
Title:
Chairman
       
       
 
SELECT OFFSHORE ADVISORS, LLC
       
 
By:
/s/ George S. Loening         
   
Name:
George S. Loening
   
Title:
Manager
       
 
/s/ George S. Loening           
 
George S. Loening, an individual