-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RdsidbU3j8QlM7oHS+eUz+x8Y46Kvi1878KIaT59NxaFxUTqnsjE6VdXzmfCig4r 2Ua5IMo0OY+ozrXTZunAiQ== 0000950112-96-000404.txt : 19960216 0000950112-96-000404.hdr.sgml : 19960216 ACCESSION NUMBER: 0000950112-96-000404 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19960213 SROS: NASD GROUP MEMBERS: CHANNEL ONE ASSOCIATES, L.P. GROUP MEMBERS: JWC ASSOCIATES II, L.P. GROUP MEMBERS: JWC ASSOCIATES, L.P. GROUP MEMBERS: KKR PARTNERS II LP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WALTER INDUSTRIES INC /NEW/ CENTRAL INDEX KEY: 0000837173 STANDARD INDUSTRIAL CLASSIFICATION: GEN BUILDING CONTRACTORS - RESIDENTIAL BUILDINGS [1520] IRS NUMBER: 133429953 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-44983 FILM NUMBER: 96516338 BUSINESS ADDRESS: STREET 1: 1500 N DALE MABRY HGWY CITY: TAMPA STATE: FL ZIP: 33607 BUSINESS PHONE: 8138714811 MAIL ADDRESS: STREET 1: 1500 NORTH MABRY HGWY STREET 2: 1500 NORTH MABRY HGWY CITY: TAMPA STATE: FL ZIP: 33607 FORMER COMPANY: FORMER CONFORMED NAME: HILLSBOROUGH HOLDINGS CORP DATE OF NAME CHANGE: 19910814 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KKR PARTNERS II LP CENTRAL INDEX KEY: 0000918992 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: C/O KOHLBERG KRAVIS ROBERTS & CO LP STREET 2: 9 WEST 57TH STREET CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-750-8300 MAIL ADDRESS: STREET 1: C/O KOHLBERG KRAVIS ROBERTS & CO L P STREET 2: 9 WEST 57TH STREET CITY: NEW YORK STATE: NY ZIP: 10019 SC 13G 1 WALTER INDUSTRIES, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* --------------- Walter Industries, Inc. ----------------------- (Name of Issuer) Common Stock, par value $.01 per share -------------------------------------- (Title of Class of Securities) 93317Q105 --------- (CUSIP Number) Check the following box if a fee is being paid with this statement /X/. (A fee is not required only if the filing person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7). *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). Page 1 of 12 pages 13G CUSIP No. 93317Q105 Page 2 of 12 Pages --------- - ------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON JWC Associates, L.P. - ------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - ------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------ 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------ NUMBER OF 5 SOLE VOTING POWER SHARES 9,610,144 BENEFICIALLY -------------------------------------------------------- OWNED BY EACH 6 SHARED VOTING POWER REPORTING 0 PERSON WITH -------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 6,163,165 -------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------ 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,610,144 - ------------------------------------------------------------------------ 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* - ------------------------------------------------------------------------ 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 17.7 - ------------------------------------------------------------------------ 12 TYPE OF REPORTING PERSON* PN - ------------------------------------------------------------------------ * SEE INSTRUCTION BEFORE FILLING OUT! Page 2 of 12 pages 13G CUSIP No. 93317Q105 Page 3 of 12 Pages --------- - ------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON JWC Associates II, L.P. - ------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - ------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------ 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------ NUMBER OF 5 SOLE VOTING POWER SHARES 63,680 BENEFICIALLY -------------------------------------------------------- OWNED BY EACH 6 SHARED VOTING POWER REPORTING 0 PERSON WITH -------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 40,839 -------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------ 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 63,680 - ------------------------------------------------------------------------ 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* - ------------------------------------------------------------------------ 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 0.1 - ------------------------------------------------------------------------ 12 TYPE OF REPORTING PERSON* PN - ------------------------------------------------------------------------ * SEE INSTRUCTION BEFORE FILLING OUT! Page 3 of 12 pages 13G CUSIP No. 93317Q105 Page 4 of 12 Pages --------- - ------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON KKR Partners II, L.P. - ------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - ------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------ 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------ NUMBER OF 5 SOLE VOTING POWER SHARES 232,965 BENEFICIALLY -------------------------------------------------------- OWNED BY EACH 6 SHARED VOTING POWER REPORTING 0 PERSON WITH -------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 149,405 -------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------ 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 232,965 - ------------------------------------------------------------------------ 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* - ------------------------------------------------------------------------ 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 0.4 - ------------------------------------------------------------------------ 12 TYPE OF REPORTING PERSON* PN - ------------------------------------------------------------------------ * SEE INSTRUCTION BEFORE FILLING OUT! Page 4 of 12 pages 13G CUSIP No. 93317Q105 Page 5 of 12 Pages --------- - ------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Channel One Associates, L.P. - ------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - ------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------ 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------ NUMBER OF 5 SOLE VOTING POWER SHARES 4,361,800 BENEFICIALLY -------------------------------------------------------- OWNED BY EACH 6 SHARED VOTING POWER REPORTING 0 PERSON WITH -------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 4,361,800 -------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------ 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,361,800 - ------------------------------------------------------------------------ 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* - ------------------------------------------------------------------------ 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.0 - ------------------------------------------------------------------------ 12 TYPE OF REPORTING PERSON* PN - ------------------------------------------------------------------------ * SEE INSTRUCTION BEFORE FILLING OUT! Page 5 of 12 pages SCHEDULE 13G Item 1. (a) Name of Issuer Walter Industries, Inc. (b) Address of Issuer's Principal Executive Offices 1500 North Dale Mabry Highway Tampa, FL 33607 Item 2. (a) Name of Person Filing JWC Associates, L.P. JWC Associates II, L.P. KKR Partners II, L.P. Channel One Associates, L.P. (b) Address of Principal Business Office or, if none, Residence c/o Kohlberg Kravis Roberts & Co., L.P. 9 West 57th Street New York, NY 10009 (c) Citizenship JWC Associates, L.P. -- Delaware JWC Associates II, L.P. -- Delaware KKR Partners II, L.P. -- Delaware Channel One Associates, L.P. -- Delaware (d) Title of Class of Securities Common Stock, par value $.01 per share (e) CUSIP Number 93317Q105 Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) Broker or Dealer registered under Section 15 of the Act (b) Bank as defined in section 3(a)(6) of the Act (c) Insurance Company as defined in section 3(a)(19) of the act (d) Investment Company registered under section 8 of the Investment Company Act Page 6 of 12 pages (e) Investment Adviser registered under section 203 of the Investment Advisers Act of 1940 (f) Employee Benefit Plan, Pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund; see Sec.240.13d-1 (b)(1)(ii)(F) (g) Parent Holding Company, in accordance with Sec.240.13d-1(b)(ii)(G) (Note: See Item 7) (h) Group, in accordance with Sec.240.13d-1(b)(1)(ii)(H) Not applicable Item 4. Ownership (a) Amount Beneficially Owned Each of JWC Associates, L.P. ("JWC Associates"), JWC Associates II, L.P. ("JWC Associates II"), KKR Partners II, L.P. ("KKR Partners II" and, together with JWC Associates and JWC Associates II, the "KKR Investors") and Channel One Associates, L.P. ("Channel One") is a Delaware limited partnership the sole general partner of which is KKR Associates, a New York limited partnership. JWC Associates has sole voting and dispositive power with respect to 6,163,165 shares of Common Stock. In addition, JWC Associates has the sole power to exercise voting rights with respect to 3,446,979 shares of Common Stock currently in escrow, as described below. JWC Associates II has sole voting and dispositive power with respect to 40,839 shares of Common Stock. In addition, JWC Associates II has the sole power to exercise voting rights with respect to 22,841 shares of Common Stock currently in escrow, as described below. KKR Partners II has sole voting and dispositive power with respect to 149,405 shares of Common Stock. In addition, KKR Partners II has the sole power to exercise voting rights with respect to 83,560 shares of Common Stock currently in escrow, as described below. Channel One has sole voting and dispositive power with respect to 4,361,800 shares of Common Stock. As the sole general partner of each of the KKR Investors and Channel One, KKR Associates may be deemed to be the beneficial owner of the 14,268,589 shares of Common Stock beneficially owned by the KKR Investors and Channel One. Messrs. Henry R. Kravis, George R. Roberts, Robert I. MacDonnell, Paul E. Raether, Michael Page 7 of 12 pages W. Michelson, Saul A. Fox, James H. Greene, Jr., Michael T. Tokarz, Perry Golkin, Scott M. Stewart, Clifton S. Robbins and Edward A. Gilhuly are the general partners of KKR Associates and in such capacity may be deemed to share beneficial ownership of any securities beneficially owned by KKR Associates, but they disclaim any such beneficial ownership. The 3,553,380 shares of Common Stock currently in escrow were issued to an escrow account for the benefit of the KKR Investors on September 13, 1995 pursuant to the Issuer's Amended Joint Plan of Reorganization dated as of December 9, 1994, as modified on March 1, 1995 (as so modified, the "Plan of Reorganization"), under Section 1123(a) of the United States Bankruptcy Code. The resolution of certain contingencies regarding federal income tax claims will determine whether and to what extent the shares of Common Stock in escrow will be distributed to the KKR Investors or returned to the Issuer and cancelled. Until such matters are resolved, the KKR Investors will have the sole power to exercise voting rights with respect to such shares of Common Stock. (b) Percent of Class See Item 11 of each cover page, which is based on Item 5 of each cover page. See Item 4(a). (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote See Item 5 of each cover page (ii) shared power to vote or to direct the vote See Item 6 of each cover page (iii) sole power to dispose or to direct the disposition of See Item 7 of each cover page (iv) shared power to dispose or to direct the disposition of See Item 8 of each cover page Item 5. Ownership of Five Percent or Less of a Class Not applicable Page 8 of 12 pages Item 6. Ownership of More than Five Percent on Behalf of Another Person. See Item 4(a) Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on By the Parent Holding Company. Not applicable Item 8. Identification and Classification of Members of the Group Each of the KKR Investors and Channel One is a Delaware limited partnership the sole general partner of which is KKR Associates, a New York limited partnership. As the sole general partner of each of the KKR Investors and Channel One, KKR Associates may be deemed to be the beneficial owner of the securities beneficially owned by the KKR Investors and Channel One. The KKR Investors and Channel One may be deemed to be a group in relation to their respective investments in Walter Industries, Inc. The KKR Investors and Channel One do not affirm the existence of a group. Item 9. Notice of Dissolution of Group Not applicable Item 10. Certification Not applicable Page 9 of 12 pages 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. JWC ASSOCIATES, L.P. By: KKR ASSOCIATES, its General Partner By:/s/ John A. Gerson --------------------------- Name: John A. Gerson Attorney-in-fact JWC ASSOCIATES II, L.P. By: KKR ASSOCIATES, its General Partner By:/s/ John A. Gerson --------------------------- Name: John A. Gerson Attorney-in-fact KKR PARTNERS II, L.P. By: KKR ASSOCIATES, its General Partner By:/s/ John A. Gerson --------------------------- Name: John A. Gerson Attorney-in-fact CHANNEL ONE ASSOCIATES, L.P. By: KKR ASSOCIATES, its General Partner By:/s/ John A. Gerson --------------------------- Name: John A. Gerson Attorney-in-fact Dated: February 6, 1996 Page 10 of 12 pages EXHIBITS Exhibit 1 - Joint Filing Agreement and Power of Attorney Page 11 of 12 pages EX-1 2 Exhibit 1 JOINT FILING AGREEMENT AND POWER OF ATTORNEY 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. Each of us hereby constitutes and appoints each of John A. Gerson, Perry Golkin and Michael T. Tokarz as our true and lawful agent and attorney-in-fact, with full power of substitution and resubstitution, to prepare, execute and file any such amendments, and any other documents that any such agent and attorney-in-fact may consider advisable in connection with the holdings described in this statement on Schedule 13G, on our behalf, and hereby ratifies any such action by such agent and attorney-in-fact. JWC ASSOCIATES, L.P. By: KKR ASSOCIATES, its General Partner By: /s/ Michael T. Tokarz -------------------------- Name: Michael T. Tokarz a General Partner JWC ASSOCIATES II, L.P. By: KKR ASSOCIATES, its General Partner By: /s/ Michael T. Tokarz -------------------------- Name: Michael T. Tokarz a General Partner KKR PARTNERS II, L.P. By: KKR ASSOCIATES, its General Partner By: /s/ Michael T. Tokarz -------------------------- Name: Michael T. Tokarz a General Partner CHANNEL ONE ASSOCIATES, L.P. By: KKR ASSOCIATES, its General Partner By: /s/ Michael T. Tokarz -------------------------- Name:Michael T. Tokarz a General Partner Dated: February 6, 1996 Page 12 of 12 pages -----END PRIVACY-ENHANCED MESSAGE-----