0000899140-05-000081.txt : 20120703 0000899140-05-000081.hdr.sgml : 20120703 20050201170838 ACCESSION NUMBER: 0000899140-05-000081 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20050201 DATE AS OF CHANGE: 20050201 GROUP MEMBERS: FOREST PARTNERS II, L.P. GROUP MEMBERS: MICHAEL A. BOYD GROUP MEMBERS: MICHAEL A. BOYD, INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SEQUA CORP /DE/ CENTRAL INDEX KEY: 0000095301 STANDARD INDUSTRIAL CLASSIFICATION: AIRCRAFT ENGINES & ENGINE PARTS [3724] IRS NUMBER: 131885030 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-09976 FILM NUMBER: 05566554 BUSINESS ADDRESS: STREET 1: 200 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10166 BUSINESS PHONE: 2129865500 MAIL ADDRESS: STREET 1: 200 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10166 FORMER COMPANY: FORMER CONFORMED NAME: SUN CHEMICAL CORP DATE OF NAME CHANGE: 19870521 FORMER COMPANY: FORMER CONFORMED NAME: GENERAL PRINTING INK CORP DATE OF NAME CHANGE: 19710510 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FOREST INVESTMENT MANAGEMENT LLC CENTRAL INDEX KEY: 0001057246 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 061354491 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 53 FOREST AVE CITY: OLD GREENWICH STATE: CT ZIP: 06870 BUSINESS PHONE: 2036987152 MAIL ADDRESS: STREET 1: FOREST INVESTMENT MANAGEMENT INC STREET 2: 53 FOREST AVE CITY: OLD GREENWICH STATE: CT ZIP: 06870 SC 13G 1 f2761853b.txt FOR FOREST AND NEIGHBORCARE UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934* Sequa Corporation (Name of Issuer) $5.00 Cumulative Convertible Preferred Stock (Title of Class of Securities) 817320302 --------- (CUSIP Number) December 14, 2004 (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) [ ] 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 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. 817320302 13G Page 2 of 12 Pages ------------------------------ ----------------------------- ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Forest Investment Management, LLC ---------- --------------------------------------------------------------------- 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 -------------------- ------ ---------------------------------------------------- 5 SOLE VOTING POWER 0 ------ ---------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 24,600 OWNED BY EACH ------ -------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 0 ------ ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 52,100 ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 52,100 ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 12.6% ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IA ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! ------------------------------ ----------------------------- CUSIP No. 817320302 13G Page 3 of 12 Pages ------------------------------ ----------------------------- ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Forest 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 -------------------- ------ ---------------------------------------------------- 5 SOLE VOTING POWER 0 ------ ---------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 24,600 OWNED BY EACH ------ ---------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 0 ------ ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 52,100 ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 52,100 ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 12.6% ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! ------------------------------ ----------------------------- CUSIP No. 817320302 13G Page 4 of 12 Pages ------------------------------ ----------------------------- ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Michael A. Boyd, Inc. ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] ---------- --------------------------------------------------------------------- 3 SEC USE ONLY ---------- --------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Connecticut -------------------- ------ ---------------------------------------------------- 5 SOLE VOTING POWER 0 ------ ---------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 24,600 OWNED BY EACH ------ -------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 0 ------ ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 52,100 ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 52,100 ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 12.6% ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* CO ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! ------------------------------- ----------------------------- CUSIP No. 817320302 13G Page 5 of 12 Pages ------------------------------ ----------------------------- ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Michael A. Boyd ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] ---------- --------------------------------------------------------------------- 3 SEC USE ONLY ---------- --------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States -------------------- ------ ---------------------------------------------------- 5 SOLE VOTING POWER 0 ------ ---------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 24,600 OWNED BY EACH ------ -------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 0 ------ ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 52,100 ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 52,100 ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 12.6% ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! This statement on Schedule 13G is filed with respect to the $5.00 Cumulative Convertible Preferred Stock ("Preferred Stock") of Sequa Corporation, a Delaware corporation (the "Company"). Beneficial ownership of the Preferred Stock is reported herein as of the date hereof. Item 1(a): Name of Issuer: --------- -------------- Sequa Corporation. Item 1(b): Address of Issuer's Principal Executive Offices: --------- ----------------------------------------------- 200 Park Avenue New York, New York 10166. Items 2(a) Name of Person Filing; Address of Principal ---------- ------------------------------------------- and 2(b): Business Office: -------- --------------- This statement is filed by and on behalf of Forest Investment Management, LLC, a Delaware limited liability company and registered investment adviser ("Forest Management"), Forest Partners II, L.P., a Delaware limited partnership ("Forest Partners"), Michael A. Boyd, Inc., a Delaware corporation ("Boyd") and Mr. Michael A. Boyd ("Mr. Boyd" and, together with Forest Management, Forest Partners and Boyd, the "Reporting Persons"). Mr. Boyd serves as president and sole shareholder of Boyd. Boyd serves as general partner of Forest Partners. Forest Partners is sole owner and managing member of Forest Management. Forest Management serves as investment adviser to advised accounts which directly own shares of Preferred Stock (the "Advised Accounts"). Forest Management has dispositive control over all shares of Preferred Stock held by the Advised Accounts and voting control over a certain percentage of such shares. By virtue of the foregoing relationships, Forest Management, Forest Partners, Boyd and Mr. Boyd may be deemed to have beneficial ownership over the shares of Preferred Stock held directly by the Advised Accounts. The principal business address of each Reporting Person is 53 Forest Avenue, Old Greenwich, Connecticut 06870. Item 2(c): Citizenship: --------- ------------ Forest Management is a Delaware limited liability company. Forest Partners is a Delaware limited partnership. Boyd is a Connecticut corporation. Mr. Boyd is a United States citizen. Item 2(d): Title of Class of Securities: --------- ----------------------------- $5.00 Cumulative Convertible Preferred Stock -6- Item 2(e): CUSIP Number: --------- ------------- 817320302 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: ------------------------------- 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 of 1940, E. [X] Investment Adviser in accordance with Rule 13d-1(b)(1)(ii)(E), F. [ ] Employee Benefit Plan or Endowment Fund in accordance with 13d-1 (b)(1)(ii)(F), G. [ ] Parent Holding Company or control person in accordance with Rule 13d-1 (b)(1)(ii)(G), H. [ ] Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act, I. [ ] 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. [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). Items 4(a)-(c): Ownership: -------------- --------- As of the date of this statement: FOREST INVESTMENT MANAGEMENT, LLC (a) Amount beneficially owned. Forest Management may be deemed to beneficially own, within the meaning of Rule 13d-1 of the Securities Exchange Act of 1934, 52,100 shares of Preferred Stock held directly by the Advised Accounts. (b) Percent of Class. The 52,100 shares of Preferred Stock beneficially owned by Forest Management represent 12.6% of the total outstanding amount of Preferred Stock. This percentage and the other percentages set forth in this Schedule 13G are based on a total of 412,815 shares of Preferred Stock outstanding as of March 18, 2004, as reflected in the Company's Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission on March 30, 2004. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 24,600 -7- (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 52,100 FOREST PARTNERS II, L.P. ------------------------ (a) Amount beneficially owned. Forest Partners may be deemed to have beneficial ownership over the shares of Preferred Stock beneficially owned by Forest Management by virtue of its position as managing member of Forest Management. Therefore, Forest Partners may be deemed to have beneficial ownership of 52,100 shares of Preferred Stock. (b) Percent of Class. The 52,100 shares of Preferred Stock beneficially owned by Forest Partners represent 12.6% of the total outstanding amount of Preferred Stock. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 24,600 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 52,100 MICHAEL A. BOYD, INC. --------------------- (a) Amount beneficially owned. Boyd may be deemed to have beneficial ownership over the shares of Preferred Stock beneficially owned by Forest Partners by virtue of its position as general partner of Forest Partners. Therefore, Boyd may be deemed to have beneficial ownership of 52,100 shares of Preferred Stock. (b) Percent of Class. The 52,100 shares of Preferred Stock beneficially owned by Boyd represent 12.6% of the total outstanding amount of Preferred Stock. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 24,600 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 52,100 MICHAEL A. BOYD --------------- (a) Amount beneficially owned. Mr. Boyd may be deemed to have beneficial ownership over the shares of Preferred Stock beneficially owned by Boyd by virtue of -8- his position as president and sole shareholder of Boyd. Therefore, Mr. Boyd may be deemed to have beneficial ownership of 52,100 shares of Preferred Stock. (b) Percent of Class. The 52,100 shares of Preferred Stock beneficially owned by Mr. Boyd represent 12.6% of the total outstanding amount of Preferred Stock. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 24,600 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 52,100 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 five percent of the class of securities, check the following: [ ] Item 6: Ownership of More than Five Percent on ------- -------------------------------------- Behalf of Another Person: -------------------------------------- Other than as set forth herein, no person is known to have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, in excess of 5% of the outstanding Preferred Stock. None of the Advised Accounts has an ownership interest equal to or greater than 5% of the total outstanding Preferred Stock. 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: --------------------- Not Applicable. Item 9: Notice of Dissolution of Group: ------ ------------------------------- Not Applicable. -9- Item 10: Certification: ------- ------------- By signing below each of the undersigned certifies that, to the best of the undersigned's knowledge and belief, the securities referred to above 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. -10- SIGNATURE --------- After reasonable inquiry and to the best of the undersigned's knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: February 1, 2005 FOREST INVESTMENT MANAGEMENT, LLC FOREST PARTNERS II, L.P. By: Forest Partners II, L.P., By: Michael A. Boyd, Inc., managing member general partner By: Michael A. Boyd, Inc. By: /s/ Michael A. Boyd general partner ----------------------- Michael A. Boyd President By: /s/ Michael A. Boyd ----------------------- Michael A. Boyd President MICHAEL A. BOYD, INC. /s/ Michael A. Boyd --------------------- ------------------- Michael A. Boyd By: /s/ Michael A. Boyd ----------------------- Michael A. Boyd President EXHIBIT INDEX ------------- Exhibit 99.1: Joint Filing Agreement, dated February 1, 2005, by and among Forest Investment Management, LLC, Forest Partners II, L.P., Michael A. Boyd, Inc. and Michael A. Boyd. EX-99.1 3 f2761853c.txt JOINT FILING AGREEMENT Exhibit 99.1 ------------ JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(k)(1) The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that it knows or has reason to believe that such information is inaccurate. This Agreement may be executed in any number of counterparts and all of such counterparts taken together shall constitute one and the same instrument. Dated: February 1, 2005 FOREST INVESTMENT MANAGEMENT, LLC FOREST PARTNERS II, L.P. By: Forest Partners II, L.P., By: Michael A. Boyd, Inc., managing member general partner By: Michael A. Boyd, Inc. By: /s/ Michael A. Boyd general partner ----------------------- Michael A. Boyd President By: /s/ Michael A. Boyd -------------------- Michael A. Boyd President MICHAEL A. BOYD, INC. /s/ Michael A. Boyd --------------------- ------------------- Michael A. Boyd By: /s/ Michael A. Boyd --------------------- Michael A. Boyd President