0000950162-05-000301.txt : 20120615
0000950162-05-000301.hdr.sgml : 20120615
20050323130014
ACCESSION NUMBER: 0000950162-05-000301
CONFORMED SUBMISSION TYPE: SC 13D/A
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20050323
DATE AS OF CHANGE: 20050323
GROUP MEMBERS: DAVID A. STOCKMAN
GROUP MEMBERS: HEARTLAND INDUSTRIAL PARTNERS (C1), L.P.
GROUP MEMBERS: HEARTLAND INDUSTRIAL PARTNERS (FF), L.P.
GROUP MEMBERS: HEARTLAND INDUSTRIAL PARTNERS, L.P.
GROUP MEMBERS: HEARTLAND SIDE-BY-SIDE PARTNERS, L.P.
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: COLLINS & AIKMAN CORP
CENTRAL INDEX KEY: 0000846815
STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714]
IRS NUMBER: 133489233
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13D/A
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-45541
FILM NUMBER: 05698539
BUSINESS ADDRESS:
STREET 1: 250 STEPHENSON HWY
CITY: TROY
STATE: MI
ZIP: 48083
BUSINESS PHONE: 2488242500
MAIL ADDRESS:
STREET 1: 250 STEPHENSON HWY
CITY: TROY
STATE: MI
ZIP: 48083
FORMER COMPANY:
FORMER CONFORMED NAME: COLLINS & AIKMAN HOLDINGS CORP/DE
DATE OF NAME CHANGE: 19930914
FORMER COMPANY:
FORMER CONFORMED NAME: COLLINS & AIKMAN HOLDINGS CORP
DATE OF NAME CHANGE: 19930114
FORMER COMPANY:
FORMER CONFORMED NAME: WCI HOLDINGS CORP
DATE OF NAME CHANGE: 19920703
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: HEARTLAND INDUSTRIAL ASSOCIATES LLC
CENTRAL INDEX KEY: 0001179822
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FILING VALUES:
FORM TYPE: SC 13D/A
BUSINESS ADDRESS:
STREET 1: 55 RAILROAD AVENUE
CITY: GREENWICH
STATE: CT
ZIP: 06830
BUSINESS PHONE: 2038612622
MAIL ADDRESS:
STREET 1: 55 RAILROAD AVENUE
CITY: GREENWICH
STATE: CT
ZIP: 06830
SC 13D/A
1
ca13dano88-032205.txt
AMENDMENT NO. 88
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934 (Amendment No. 88)*
COLLINS & AIKMAN CORPORATION
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
--------------------------------------------------------------------------------
(Title of Class of Securities)
194830 10 5
--------------------------------------------------------------------------------
(CUSIP Number)
W. Leslie Duffy, Esq.
Jonathan A. Schaffzin, Esq.
Cahill Gordon & Reindel LLP
80 Pine Street,
New York, NY 10005
(212) 701-3000
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
March 17, 2005
--------------------------------------------------------------------------------
(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 that is the subject of this Schedule 13D, and is filing this
schedule because of ss.240.13d-1(e), 240.13d-1(f) or 240.13d-(1)(g), check the
following box / /.
*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 the 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).
Page 1 of 10
SCHEDULE 13D
CUSIP No. 194830 10 5
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
HEARTLAND INDUSTRIAL ASSOCIATES L.L.C.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
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 (Delaware)
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 32,714,147
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
EACH
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER
32,714,147
10 SHARED DISPOSITIVE POWER
None
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
32,714,147*
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
39.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00 (Limited Liability Company)
--------------------------------------------------------------------------------
* By virtue of being the general partner of each of the other Reporting
Persons filing this Schedule 13D.
Page 2 of 10
SCHEDULE 13D
CUSIP No. 194830 10 5
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
HEARTLAND INDUSTRIAL PARTNERS (FF), L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
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 (Delaware)
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 393,049
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
EACH
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER
393,049
10 SHARED DISPOSITIVE POWER
None
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
393,049*
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.47%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00 (Limited Partnership)
--------------------------------------------------------------------------------
* Exercised by the Reporting Person's general partner, Heartland Industrial
Associates L.L.C.
Page 3 of 10
SCHEDULE 13D
CUSIP No. 194830 10 5
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
HEARTLAND INDUSTRIAL PARTNERS (C1), L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
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 (Delaware)
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 76,746*
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
EACH
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER
76,746*
10 SHARED DISPOSITIVE POWER
None
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
76,746*
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.09%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00 (Limited Partnership)
--------------------------------------------------------------------------------
* Exercised by the Reporting Person's general partner, Heartland Industrial
Associates L.L.C.
Page 4 of 10
SCHEDULE 13D
CUSIP No. 194830 10 5
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
HEARTLAND INDUSTRIAL PARTNERS, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
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 (Delaware)
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 31,990,479*
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
EACH
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER
31,990,479*
10 SHARED DISPOSITIVE POWER
None
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,990,479*
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
38.3%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00 (Limited Partnership)
--------------------------------------------------------------------------------
* Exercised by the Reporting Person's general partner, Heartland Industrial
Associates L.L.C.
Page 5 of 10
SCHEDULE 13D
CUSIP No. 194830 10 5
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
HEARTLAND SIDE-BY-SIDE PARTNERS, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
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 (Delaware)
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 70,000*
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
EACH
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER
70,000*
10 SHARED DISPOSITIVE POWER
None
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
70,000*
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
/ /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.08%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00 (Limited Liability Company)
--------------------------------------------------------------------------------
* Exercised by the Reporting Person's general partner, Heartland Industrial
Associates L.L.C.
Page 6 of 10
SCHEDULE 13D
CUSIP No. 194830 10 5
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
DAVID A. STOCKMAN
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
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 331,000*
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
EACH
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER
331,000*
10 SHARED DISPOSITIVE POWER
None
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
331,000*
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
/ /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.40%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
--------------------------------------------------------------------------------
* Heartland Industrial Associates L.L.C. ( "HIA") is the general partner of
Heartland funds which funds owns 32,714,147 shares of common stock. Mr.
Stockman is the managing partner of HIA. Mr. Stockman disclaims beneficial
ownership of such shares.
Page 7 of 10
This Amendment No. 88 amends the Schedule 13D (the "Schedule 13D")
previously filed with the Securities and Exchange Commission, jointly on behalf
of Heartland Industrial Associates L.L.C., a Delaware limited liability company
("HIA"), Heartland Industrial Partners (FF), L.P., a Delaware limited
partnership ("HIPFF"), Heartland Industrial Partners (K1), L.P., a Delaware
limited partnership ("HIPK1"), Heartland Industrial Partners (C1), L.P., a
Delaware limited partnership ("HIPC1"), and Heartland Industrial Partners, L.P.,
a Delaware limited partnership ("HIP" and, collectively with HIA, HIPFF, HIPK1
and HIPC1, the "Reporting Heartland Entities") and David A. Stockman, with
respect to the common stock, par value $.01 (the "Common Stock"), of Collins &
Aikman Corporation, a Delaware corporation (the "Company"). The definition of
Reporting Heartland Entities is amended to include HIP Side-By-Side IA, L.L.C.
("HIP Side") and HIP Side-By-Side Partners, L.P. ("HIP Side LP"). Capitalized
terms used but not otherwise defined herein shall have the meanings heretofore
ascribed to them in the Schedule 13D, as amended prior to the date hereof.
All share numbers in this filing (including on the cover page) give effect
to the one-for-2.5 reverse stock split (the "Split") effected by the Company in
May 2002. This needs to be considered in comparing the information against
previous filings. This filing is being made to reflect a letter agreement (the
"Letter") entered into between HIP and Textron Inc. ("Textron") on March 17,
2005 in respect of the transactions described below. In the Letter, Textron Inc.
agreed to sell to HIP and its designees all of the outstanding Series A-1
Preferred Stock and Series B-1 Preferred Stock (the "Preferred Stock") of
Collins & Aikman Products Co., a wholly owned subsidiary of the Company, on the
terms and conditions set forth in the Letter. Definitive documentation for the
matters covered by the Letter has not yet been prepared.
In the Letter, HIP committed to purchase, within the provided time frame
and subject to certain terms and conditions, the "applicable percentage"
(defined in the Letter), not to exceed 60%, of the Preferred Stock, for (x)
$25.0 million in cash and (y) 2,000,000 shares of Common Stock held by HIP. HIP
expects that each of the Reporting Entities will participate in the purchase
utilizing shares of Common Stock owned by them. Textron committed for a period
of time to sell the balance of the Preferred Stock for $20 million in cash to
one or more designees of Heartland, subject to certain terms and conditions.
Heartland did not commit to purchase this balance itself, but HIP has certain
rights of first refusal with respect to any Preferred Stock not purchased by it
or a designee.
In addition, HIP and Textron agreed that the definitive purchase
documentation would include the following: (a) Textron would grant Heartland the
right to purchase within 5 years up to 2,000,000 shares of Common Stock at a
price of $3.00 per share and (b) Heartland would grant Textron Inc. the right to
buy: (i) 1,000,000 shares of Common Stock at a price of $8.50 per share within
18 months of the Letter date, (ii) 1,000,000 shares of Common Stock at a price
of $9.50 per share within 19 months of the Letter date, (iii) 1,000,000 shares
of Common Stock at a price of $10.50 per share within 20 months of the Letter
date, (iv) 1,000,000 shares of Common Stock at a price of $11.50 per share
within 23 months of the Letter date and (v) 1,000,000 shares of Common Stock
within 24 months of the Letter date. The foregoing options are
Page 8 of 10
subject to modifications or restructuring prior to the execution of definitive
documentation among the parties to comply with certain securities law issues.
The foregoing transactions are subject to certain conditions set forth in
the Letter. The closing date for the purchase of the Preferred Stock is expected
to occur on or before the later of (x) 45 days after the filing of the Company's
2004 Form 10-K and (y) 60 days after the date of the Letter, subject to the
specified conditions. The transactions contemplated by the Letter are referred
to herein as the "Transactions."
Item 4. Purpose of the Transaction.
Item 4 is hereby amended by the addition of the following paragraph:
On March 17, 2005, HIP and Textron entered into the Letter, a copy of which
is filed herewith as Exhibit 99.1. The primary purpose of the Transactions is
the purchase of up to all of the Preferred Stock by Heartland and one or more of
its designees. As part of the consideration for the purchase of Preferred Stock
and the other agreements reflected in the Letter, Heartland has agreed to a
transfer of certain shares of Common Stock and certain rights of first refusal
and options with respect to shares of Common Stock.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to
Securities of the Issuer.
On March 17, 2005, HIP and Textron entered into the Letter, a copy of which
is filed herewith as Exhibit 99.1. The Letter represents agreements to be
documented in definitive documentation by Heartland to sell 2,000,000 shares of
Common Stock as part of the consideration for the purchase of up to 60% of the
Preferred Stock and by both Heartland and Textron with respect to certain rights
of first refusal and options on Common Stock held by HIP and Textron, all
subject to the terms and conditions set forth in the Letter.
Item 7. Material to be Filed as Exhibits.
Attached hereto as Exhibit 99.1 is the Letter, the material terms of which are
described above.
Page 9 of 10
Signatures
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.
Dated March 23, 2005
Heartland Industrial Associates L.L.C.
Heartland Industrial Partners (FF), L.P.,
Heartland Industrial Partners (C1), L.P.,
Heartland Industrial Partners, L.P.
HIP Side-By-Side
Partners, L.P.
HIP Side-By-Side IA, L.L.C.
By: /s/ David A. Stockman
--------------------------------------
David A. Stockman
David Stockman, in his individual capacity
/s/ David A. Stockman
--------------------------------------
David A. Stockman
Page 10 of 10