0001140361-16-050644.txt : 20160208 0001140361-16-050644.hdr.sgml : 20160208 20160208170153 ACCESSION NUMBER: 0001140361-16-050644 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20160208 DATE AS OF CHANGE: 20160208 GROUP MEMBERS: ACP INC RESEARCH CO-INVEST, LLC GROUP MEMBERS: AVISTA CAPITAL PARTNERS (OFFSHORE) II, L.P. GROUP MEMBERS: AVISTA CAPITAL PARTNERS (OFFSHORE) II-A, L.P. GROUP MEMBERS: AVISTA CAPITAL PARTNERS II, L.P. GROUP MEMBERS: INC RESEARCH MEZZANINE CO-INVEST, LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: INC Research Holdings, Inc. CENTRAL INDEX KEY: 0001610950 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731] IRS NUMBER: 273403111 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-88633 FILM NUMBER: 161396286 BUSINESS ADDRESS: STREET 1: 3201 BEECHLEAF COURT STREET 2: SUITE 600 CITY: RALEIGH STATE: NC ZIP: 27604 BUSINESS PHONE: 919-876-9300 MAIL ADDRESS: STREET 1: 3201 BEECHLEAF COURT STREET 2: SUITE 600 CITY: RALEIGH STATE: NC ZIP: 27604 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Avista Capital Partners II GP, LLC CENTRAL INDEX KEY: 0001555276 IRS NUMBER: 262708016 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 65 EAST 55TH STREET STREET 2: 18TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-593-6900 MAIL ADDRESS: STREET 1: 65 EAST 55TH STREET STREET 2: 18TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13G/A 1 formsc13ga.htm AVISTA CAPITAL PARTNERS II GP, LLC SC 13GA 12-31-2015 (INC RESEARCH HOLDINGS, INC.)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G
AMENDMENT NO. 1

Under the Securities Exchange Act of 1934

INC RESEARCH HOLDINGS, INC.
(Name of Issuer)

CLASS A COMMON STOCK, PAR VALUE $0.01 PER SHARE
(Title of Class of Securities)

45329R 109
(CUSIP Number)

DECEMBER 31, 2015
(Date of Event Which Requires Filing of this Statement)


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

Rule 13d-1(b)
Rule 13d-1(c)
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 in 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. 45329R 109
SCHEDULE 13G
 
 
1
NAMES OF REPORTING PERSONS
AVISTA CAPITAL PARTNERS II GP, LLC
 
 
 
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
   
26-2708016
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)
   
(b)
 
 
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
 
 
10,761,139*
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
10,761,139*
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
10,761,139*
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
20.0%*
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
OO
 
 
 
 
 
* See Items 4 and 8
 
2

CUSIP No. 45329R 109
SCHEDULE 13G
 
 
1
NAMES OF REPORTING PERSONS
AVISTA CAPITAL PARTNERS II, L.P.
 
 
     
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
 
26-2708127
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)☒
   
(b)☐
 
 
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
 
 
6,550,396*
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
6,550,396*
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
6,550,396*
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
12.2%*
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
PN
 
 
 
 
 
* See Items 4 and 8
 
3

CUSIP No. 45329R 109
SCHEDULE 13G
 

1
NAMES OF REPORTING PERSONS
AVISTA CAPITAL PARTNERS (OFFSHORE) II, L.P.
 
 
     
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
 
98-0588109
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)☒
   
(b)☐
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
BERMUDA
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
2,151,060*
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
2,151,060*
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
2,151,060*
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
4.0%*
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
FI
 
 
 
 
 
* See Items 4 and 8
 
4

CUSIP No. 45329R 109
SCHEDULE 13G
 
 
1
NAMES OF REPORTING PERSONS
AVISTA CAPITAL PARTNERS (OFFSHORE) II-A, L.P.
 
 
     
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
 
98-0644474
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)☒
   
(b)☐
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
BERMUDA
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
522,152*
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
522,152*
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
522,152*
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
1.0%*
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
FI
 
 
 
 
 
* See Items 4 and 8
 
5

CUSIP No. 45329R 109
SCHEDULE 13G
 

1
NAMES OF REPORTING PERSONS
ACP INC RESEARCH CO-INVEST, LLC
 
 
     
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
 
90-0611463
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)☒
   
(b)☐
 
 
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
 
 
1,079,102*
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
1,079,102*
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
1,079,102*
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
2.0%*
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
OO
 
 
 
 
 
* See Items 4 and 8
 
6

CUSIP No. 45329R 109
SCHEDULE 13G
 

1
NAMES OF REPORTING PERSONS
INC RESEARCH MEZZANINE CO-INVEST, LLC
 
 
     
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
 
80-0644238
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)☒
   
(b)☐
 
 
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
 
 
458,429*
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
458,429*
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
458,429*
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
0.9%*
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
OO
 
 
 
 
 
* See Items 4 and 8
 
7

Item 1(a). Name of Issuer

INC Research Holdings, Inc.

Item 1(b). Address of Issuer's Principal Executive Offices

201 Beechleaf Court, Suite 600
Raleigh, North Carolina 27604-1547

Item 2. (a) Name of Person Filing

This statement is filed by the entities and persons listed below, all of whom together are referred to herein as the "Reporting Persons":

(i) Avista Capital Partners II GP, LLC.

(ii) Avista Capital Partners II, L.P.

(iii) Avista Capital Partners (Offshore) II, L.P.

(iv) Avista Capital Partners (Offshore) II-A, L.P.

(v) ACP INC Research Co-Invest, LLC

(vi) INC Research Mezzanine Co-Invest, LLC

(b) Address of Principal Business Office or, if none, Residence

All Reporting Persons:

65 East 55th Street, 18th Floor
New York, NY 10022

(c) Citizenship

All Reporting Persons, except Avista Capital Partners (Offshore) II, L.P. and Avista Capital Partners (Offshore) II-A, L.P.: Delaware

Avista Capital Partners (Offshore) II, L.P. and Avista Capital Partners (Offshore) II-A, L.P.: Bermuda

(d) Title of Class of Securities

Class A Common Stock, par value $0.01 per share

(e) CUSIP Number

45329R 109
 
8

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

  Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
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 (15 U.S.C. 80a-3);
A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J);
A group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution:
 
Item 4. Ownership

(a)-(c)

Reporting
Person
Amount
Beneficially
Owned(a)
Percent
of
Class(b)
Number
of shares
as to
which the
person
has: Sole
power to
vote or to
direct the
vote
Number of
shares as
to which
the person
has:
Shared
power to
vote or to
direct the
vote
Number of
shares as
to which
the person
has: Sole
power to
dispose or
to direct
the
disposition
of:
Number of
shares as
to which
the person
has:
Shared
power to
dispose or
to direct
the
disposition
of:
Avista Capital Partners II GP, LLC
10,761,139
20.0%
0
10,761,139
0
10,761,139
Avista Capital Partners II, L.P.
6,550,396
12.2%
0
6,550,396
0
6,550,396
Avista Capital Partners (Offshore) II, L.P.
2,151,060
4.0%
0
2,151,060
0
2,151,060
Avista Capital Partners (Offshore) II-A, L.P.
522,152
1.0%
0
522,152
0
522,152
ACP INC Research Co-Invest, LLC
1,079,102
2.0%
0
1,079,102
0
1,079,102
INC Research Mezzanine Co-Invest, LLC
458,429
0.9%
0
458,429
0
458,429
 
(a) Avista Capital Partners II GP, LLC ultimately exercises voting and dispositive power over the 6,550,396 shares of Class A Common Stock held by Avista Capital Partners II, L.P., the 2,151,060 shares of Class A Common Stock held by Avista Capital Partners (Offshore) II, L.P., the 522,152 shares of Class A Common Stock held by Avista Capital Partners (Offshore) II-A, L.P., the 1,079,102 shares of Class A Common Stock held by ACP INC Research Co-Invest, LLC and the 458,429 shares of Class A Common Stock held by INC Research Mezzanine Co-Invest, LLC. Voting and disposition decisions at Avista Capital Partners II GP, LLC with respect to those shares are made by an investment committee, the members of which are Thompson Dean, Steven Webster, David Burgstahler, David Durkin, Brendan Scollans and Sriram Venkataraman. Each of the members of the investment committee disclaims beneficial ownership of these securities except to the extent of any pecuniary interest therein.

(b) Ownership percentages are based upon the 53,699,422 shares of Class A Common Stock outstanding as of December 31, 2015 as provided by the Issuer’s transfer agent.
 
9

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 the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following ☐.

Item 6. Ownership of More than Five Percent on Behalf of Another Person
 
Not Applicable

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person

Not Applicable
 
10

Item 8. Identification and Classification of Members of the Group

The Issuer, Avista Capital Partners II, L.P., Avista Capital Partners (Offshore) II, L.P., Avista Capital Partners (Offshore) II-A, L.P. and INC Research Mezzanine Co-Invest, LLC (each, an affiliate of Avista Capital Partners, L.P. and collectively, the “Avista Entities”), an affiliate of Ontario Teachers’ Pension Plan Board (“OTPP”), ACP INC Research Co-Invest, LLC and certain management stockholders are party to an Amended and Restated Stockholders Agreement (the “Stockholders Agreement”) dated as of November 6, 2014, pursuant to which the Avista Entities and OTPP have agreed to vote all outstanding shares of Class A Common Stock and Class B Common Stock (together, the “Common Stock”) held by them to ensure the composition of the Issuer’s Board as set forth in the Stockholders Agreement, for so long as each of the Avista Entities and OTPP owns at least 5% of the Issuer’s outstanding shares of Common Stock. Consequently, the Avista Entities and OTPP may be deemed to be a group under Section 13(d) of the Securities Exchange Act of 1934 (the “Exchange Act”) with respect to the securities of the Issuer.

OTPP owns of record 10,302,711 shares, or 19.2%, of the Class A Common Stock outstanding as of December 31, 2015, as provided by the Issuer’s transfer agent.  The filing of this statement shall not be deemed an admission that, for purposes of Section 13 of the Exchange Act, or otherwise, any of the Avista Entities is the beneficial owner of equity securities covered by this statement or any other statement that are beneficially owned, directly or indirectly, by any other person other than as stated herein.

Item 9. Notice of Dissolution of Group

Not Applicable

Item 10. Certifications

Not Applicable
 
11

SIGNATURE

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

Date: February 8, 2016

 
AVISTA CAPITAL PARTNERS II GP, LLC
     
 
By:
/s/ Ben Silbert
 
Name:
Ben Silbert
 
Title:
Authorized Representative

 
AVISTA CAPITAL PARTNERS II, L.P.
 
By:
Avista Capital Partners II GP, LLC
its General Partner
     
 
By:
/s/ Ben Silbert
 
Name:
Ben Silbert
 
Title:
Authorized Representative

 
AVISTA CAPITAL PARTNERS (OFFSHORE) II, L.P.
 
By:
Avista Capital Partners II GP, LLC
its General Partner
     
 
By:
/s/ Ben Silbert
 
Name:
Ben Silbert
 
Title:
Authorized Representative

 
AVISTA CAPITAL PARTNERS (OFFSHORE) II-A, L.P.
 
By:
Avista Capital Partners II GP, LLC
its General Partner
     
 
By:
/s/ Ben Silbert
 
Name:
Ben Silbert
 
Title:
Authorized Representative
 
12

 
ACP INC RESEARCH CO-INVEST, LLC
 
By:
Avista Capital Partners II GP, LLC
its manager
     
 
By:
/s/ Ben Silbert
 
Name:
Ben Silbert
 
Title:
Authorized Representative

 
INC RESEARCH MEZZANINE CO-INVEST, LLC
 
By:
Avista Capital Partners II GP, LLC
its manager
     
 
By:
/s/ Ben Silbert
 
Name:
Ben Silbert
 
Title:
Authorized Representative
 
13

EXHIBIT INDEX

Exhibit No.
 
Joint Filing Agreement, dated February 8, 2016, among Avista Capital Partners II GP, LLC, Avista Capital Partners II, L.P., Avista Capital Partners (Offshore) II, L.P., Avista Capital Partners (Offshore) II-A, L.P., ACP INC Research Co-Invest, LLC and INC Research Mezzanine Co-Invest, LLC.
 
 

EX-99 2 ex1.htm EXHIBIT 1

EXHIBIT 1

JOINT FILING AGREEMENT

We, the signatories of the Statement on Schedule 13G to which this Agreement is attached, hereby agree that such statement is, and any amendments thereto filed by any of us will be, filed on behalf of each of us. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Dated: February 8, 2016.

 
AVISTA CAPITAL PARTNERS II GP, LLC
     
 
By:
/s/ Ben Silbert
 
Name:
Ben Silbert
 
Title:
Authorized Representative

 
AVISTA CAPITAL PARTNERS II, L.P.
 
By:
Avista Capital Partners II GP, LLC
its General Partner
     
 
By:
/s/ Ben Silbert
 
Name:
Ben Silbert
 
Title:
Authorized Representative

 
AVISTA CAPITAL PARTNERS (OFFSHORE) II, L.P.
 
By:
Avista Capital Partners II GP, LLC
its General Partner
     
 
By:
/s/ Ben Silbert
 
Name:
Ben Silbert
 
Title:
Authorized Representative

 
AVISTA CAPITAL PARTNERS (OFFSHORE) II-A, L.P.
 
By:
Avista Capital Partners II GP, LLC
its General Partner
     
 
By:
/s/ Ben Silbert
 
Name:
Ben Silbert
 
Title:
Authorized Representative
 

 
ACP INC RESEARCH CO-INVEST, LLC
 
By:
Avista Capital Partners II GP, LLC
its manager
   
 
By:
/s/ Ben Silbert
 
Name:
Ben Silbert
 
Title:
Authorized Representative

 
INC RESEARCH MEZZANINE CO-INVEST, LLC
 
By:
Avista Capital Partners II GP, LLC
its manager
     
 
By:
/s/ Ben Silbert
 
Name:
Ben Silbert
 
Title:
Authorized Representative