0000950123-05-003144.txt : 20120607
0000950123-05-003144.hdr.sgml : 20120607
20050315163540
ACCESSION NUMBER: 0000950123-05-003144
CONFORMED SUBMISSION TYPE: SC 13D
PUBLIC DOCUMENT COUNT: 2
FILED AS OF DATE: 20050315
DATE AS OF CHANGE: 20050315
GROUP MEMBERS: DESAI CAPITAL MANAGEMENT INCORPORATED
GROUP MEMBERS: PRIVATE EQUITY INVESTORS IV LP
GROUP MEMBERS: ROHIT M DESAI ASSOCIATES IV LLC
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: SITEL CORP
CENTRAL INDEX KEY: 0000943820
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389]
IRS NUMBER: 470684333
STATE OF INCORPORATION: MN
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13D
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-44769
FILM NUMBER: 05682095
BUSINESS ADDRESS:
STREET 1: 7277 WORLD COMMUNICATIONS DR
CITY: OMAHA
STATE: NE
ZIP: 68122
BUSINESS PHONE: 4106595700
MAIL ADDRESS:
STREET 1: 7277 WORLD COMMUNICATIONS DR
CITY: OMAHA
STATE: NE
ZIP: 68122
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: DESAI ROHIT M
CENTRAL INDEX KEY: 0000936870
FILING VALUES:
FORM TYPE: SC 13D
BUSINESS ADDRESS:
STREET 1: DESAI CAPITAL MANAGEMENT
STREET 2: 410 PARK AVENUE, SUITE 830
CITY: NEW YORK
STATE: NY
ZIP: 10022
BUSINESS PHONE: 2128389191
MAIL ADDRESS:
STREET 1: 410 PARK AVENUE
STREET 2: SUITE 830
CITY: NEW YORK
STATE: NY
ZIP: 10022
SC 13D
1
y06853sc13d.txt
SCHEDULE 13D
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OMB APPROVAL
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OMB Number: 3235-0145
Expires: December 31, 2005
Estimated average burden
hours per response..........11
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13D-1(A) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2(A)
(AMENDMENT NO. )*
Sitel Corporation
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, Par Value $0.001 Per Share
--------------------------------------------------------------------------------
(Title of Class of Securities)
82980K107
(CUSIP Number)
Andre J. McSherry
c/o Desai Capital Management Incorporated
410 Park Avenue, Suite 830
New York, New York 10022
(212) 838-9191
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
April 21, 2000
--------------------------------------------------------------------------------
(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 Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box [X].
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other parties
to whom copies are to be sent.
* 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
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 (the "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).
SCHEDULE 13D
------------------- -----------------
CUSIP NO. 82980K107 PAGE 2 OF 8 PAGES
------------------- -----------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Private Equity Investors IV, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 5,555,671
BENEFICIALLY ---------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 5,555,671
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,555,671
--------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
--------------------------------------------------------------------------------
SCHEDULE 13D
------------------- -----------------
CUSIP NO. 82980K107 PAGE 3 OF 8 PAGES
------------------- -----------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Desai Capital Management Incorporated*
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY ---------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 5,555,671*
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,555,671*
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,555,671*
--------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.5%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA, CO
--------------------------------------------------------------------------------
* Desai Capital Management Incorporated is the investment advisor to
Private Equity Investors IV, L.P. Accordingly, securities owned by
Private Equity Investors IV, L.P. may be deemed beneficially owned by
Desai Capital Management Incorporated. Desai Capital Management
Incorporated disclaims beneficial ownership of the shares held by
Private Equity Investors IV, L.P.
SCHEDULE 13D
------------------- -----------------
CUSIP NO. 82980K107 PAGE 4 OF 8 PAGES
------------------- -----------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Rohit M. Desai Associates IV, LLC*
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY ---------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 5,555,671*
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,555,671*
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,555,671*
--------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.5%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
--------------------------------------------------------------------------------
* Rohit M. Desai Associates IV, LLC is the general partner of Private
Equity Investors IV, L.P. Accordingly, securities owned by Private
Equity Investors IV, L.P. may be deemed beneficially owned by Rohit M.
Desai Associates IV, LLC. Rohit M. Desai Associates IV, LLC disclaims
beneficial ownership of the shares held by Private Equity Investors IV,
L.P.
SCHEDULE 13D
------------------- -----------------
CUSIP NO. 82980K107 PAGE 5 OF 8 PAGES
------------------- -----------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Rohit M. Desai*
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
PF
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 146,600**
BENEFICIALLY ---------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 5,555,671*
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 146,600**
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,555,671*
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,702,271* **
--------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.7%* **
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
--------------------------------------------------------------------------------
* Rohit M. Desai is the President, Treasurer and Chairman of the Board of
Desai Capital Management Incorporated and the director and sole
stockholder of Desai Capital Management Incorporated. Accordingly,
securities owned by Private Equity Investors IV, L.P. may be deemed
beneficially owned by Rohit M. Desai. Rohit M. Desai disclaims
beneficial ownership of the shares held by Private Equity Investors IV,
L.P.
** The numbers in these items include 94,600 shares of Sitel Corporation
Common Stock purchased by Rohit M. Desai from February 2002 through
February 2005 (equaling in the aggregate, approximately 0.127% of the
outstanding shares of Sitel Corporation Common Stock). The numbers in
these items also include 52,000 shares of Sitel Corporation Common
Stock which Rohit M. Desai may acquire under stock options which are
exercisable currently or within 60 days.
ITEM 1. SECURITY AND ISSUER.
This statement on Schedule 13D ("Schedule 13D") relates to the common
stock, par value $0.001 per share, (the "Common Stock") of Sitel Corporation, a
Minnesota corporation (the "Issuer") held by Private Equity Investments IV, L.P.
through its holdings of Common Stock of the Issuer. The Issuer's principal
executive office is located at 7277 World Communications Drive Omaha, Nebraska
68122.
ITEM 2. IDENTITY AND BACKGROUND.
The name and state of formation of citizenship, as applicable, of each
person or entity reporting pursuant to this Schedule 13D (each, a "Reporting
Person") is herein incorporated by reference to Items 1 and 6 on the cover page
of each respective Reporting Person. Each of the Reporting Persons is engaged in
private equity investing. The principal office or business address, as
applicable, of each of the Reporting Persons is c/o Desai Capital Management
Incorporated, 410 Park Avenue, Suite 830, New York, New York 10022. Rohit M.
Desai is the managing member of Rohit M. Desai Associates IV, LLC, which is the
general partner of Private Equity Investors IV, L.P. Desai Capital Management
Incorporated serves as the investment adviser to Private Equity Investors IV,
L.P. Set forth in Schedule I and incorporated herein by reference are the names,
business addresses and employments of each executive officer and director of
Desai Capital Management Incorporated (each, a "Desai Capital Disclosed Party").
During the last five years, no Reporting Person or, to the knowledge of
Desai Capital Management Incorporated, no Desai Capital Disclosed Party, has
been convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or has been 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 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
All of the funds for the purchase of the Issuer's Common Stock
consisted of the respective Reporting Person's contributed capital or own funds
ITEM 4. PURPOSE OF TRANSACTION.
Private Equity Investors IV, L.P. acquired the Issuer's Common Stock in
the ordinary course of its business solely for investment purposes. Other than
as set forth herein, the Reporting Persons have no current plan or proposal
which relates to, or would result in, any of the actions enumerated in
subparagraphs (a) through (j) of Item 4 of Schedule 13D.
On April 21, 2000, Desai M. Rohit was elected to serve as a director of
the Issuer's Board of Directors by the holders of the Common Stock. Desai M.
Rohit has no present plans or proposals with respect to the matters set forth in
Item 4 of Schedule 13D, other than in connection with his activities as a
director of the Issuer.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The response of each Reporting Person to Items 7 through 13 on each of
their respective cover pages which relate to the beneficial ownership of the
Common Stock of the Issuer is incorporated herein by reference. Pursuant to
Rule 13d-4 under the Securities Exchange Act of 1934, as amended, each of
Private Equity Investors IV, L.P., Desai Capital Management Incorporated, Rohit
M. Desai Associates IV, LLC and Rohit M. Desai hereby declare that the filing of
this Statement shall not be construed as an admission that any person is the
beneficial owner of any securities covered by this Statement.
There were no transactions involving the Issuer's Common Stock effected
during the sixty days after April 21, 2000 which would have been required to be
reported in this Statement.
No person other than the Reporting Persons have the right to receive or
the power to direct the receipt of dividends from or the proceeds from the sale
of the Issuer's Common Stock owned beneficially by any such Reporting Persons.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDING OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
EXHIBIT DESCRIPTION
------- -----------
1 Joint Filing Agreement among Private Equity Investors IV,
L.P., Desai Capital Management Incorporated, Rohit M. Desai
Associates IV, LLC and Rohit M. Desai, dated March 14, 2005.
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.
Dated: March 14, 2005
PRIVATE EQUITY INVESTORS IV, L.P.
By: Rohit M. Desai Associates IV, LLC
General Partner
By: /s/ Rohit M. Desai
----------------------------
Name: Rohit M. Desai
Title: Managing Member
DESAI CAPITAL MANAGEMENT
INCORPORATED
By: /s/ Rohit M. Desai
-------------------------------
Name: Rohit M. Desai
Title: President
/s/ Rohit M Desai
------------------------
Name: Rohit M. Desai
SCHEDULE I
PRIVATE EQUITY INVESTORS IV, L.P.
The business address of each of the persons listed below is 410 Park Avenue,
Suite 830, New York, New York 10022.
Rohit M. Desai Associates IV, LLC ("RMDA-IV") is the general partner of Private
Equity Investors IV, L.P.
Desai Capital Management Incorporated ("DCMI") is the investment advisor to
Private Equity Investors IV, L.P.
The names and principal occupations of the Executive Officers of DCMI are as
follows:
Rohit M. Desai President, Treasurer and Chairman of the
Board of DCMI, director and sole
stockholder of DCMI, managing member of
RMDA-IV
Katharine B. Desai Secretary and Director of DCMI
Andre J. McSherry Vice President
The names and principal occupations of the Directors of DCMI are as follows:
Rohit M. Desai President, Treasurer and Chairman of the
Board of DCMI, director and sole
stockholder of DCMI, managing member of
RMDA-IV
Katharine B. Desai Secretary and Director of DCMI
EX-99.1
2
y06853exv99w1.txt
JOINT FILING AGREEMENT
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1) promulgated under the Securities
Exchange Act of 1934, the undersigned agree to the joint filing of this
Statement on Schedule 13D with respect to the Common Stock of Sitel Corporation
and further agree to the filing of this agreement as an Exhibit thereto.
Dated: March 14, 2005
PRIVATE EQUITY INVESTORS IV, L.P.
By: Rohit M. Desai Associates IV, LLC
General Partner
By: /s/ Rohit M. Desai
-----------------------------
Name: Rohit M. Desai
Title: Managing Member
DESAI CAPITAL MANAGEMENT
INCORPORATED
By: /s/ Rohit M. Desai
-------------------------------
Name: Rohit M. Desai
Title: President
/s/ Rohit M. Desai
-----------------------------------
Name: Rohit M. Desai