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