0001144204-17-047903.txt : 20170914 0001144204-17-047903.hdr.sgml : 20170914 20170913194103 ACCESSION NUMBER: 0001144204-17-047903 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20170914 DATE AS OF CHANGE: 20170913 GROUP MEMBERS: K HOLDINGS, LLC GROUP MEMBERS: PLATINUM EQUITY CAPITAL PARTNERS II, L.P. GROUP MEMBERS: PLATINUM EQUITY INVESTMENT HOLDINGS II, LLC GROUP MEMBERS: PLATINUM EQUITY PARTNERS II, LLC GROUP MEMBERS: PLATINUM EQUITY, LLC GROUP MEMBERS: TOM GORES SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: KEMET CORP CENTRAL INDEX KEY: 0000887730 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS & ACCESSORIES [3670] IRS NUMBER: 570923789 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-42790 FILM NUMBER: 171084258 BUSINESS ADDRESS: STREET 1: 2835 KEMET WAY STREET 2: 2835 KEMET WAY CITY: SIMPSONVILLE STATE: SC ZIP: 29681 BUSINESS PHONE: 864-963-6300 MAIL ADDRESS: STREET 1: P O BOX 5928 STREET 2: P.O. BOX 5928 CITY: GREENVILLE STATE: SC ZIP: 29606 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: K EQUITY, LLC CENTRAL INDEX KEY: 0001468035 IRS NUMBER: 270463556 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: C/O PLATINUM EQUITY ADVISORS, LLC STREET 2: 360 NORTH CRESCENT DRIVE, SOUTH BUILDING CITY: BEVERLY HILLS STATE: CA ZIP: 90210 BUSINESS PHONE: (310) 712-1195 MAIL ADDRESS: STREET 1: C/O PLATINUM EQUITY ADVISORS, LLC STREET 2: 360 NORTH CRESCENT DRIVE, SOUTH BUILDING CITY: BEVERLY HILLS STATE: CA ZIP: 90210 SC 13D/A 1 v474936_sc13da.htm SC 13D/A

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

SCHEDULE 13D/A

 

Under The Securities Exchange Act of 1934

 

(Amendment No. 3)*

 

KEMET Corporation
(Name of Issuer)

 

Common Stock, par value $0.01 per share
(Title of Class of Securities)

 

488360108
(CUSIP Number)

 

K Equity, LLC
c/o Platinum Equity Advisors, LLC
360 North Crescent Drive
South Building
Beverly Hills, California 90210
(310) 712-1195
 
with a copy to:
 
Justin W. Chairman, Esq.
Morgan Lewis & Bockius LLP
1701 Market Street
Philadelphia, PA 19103
(215) 963-5000
 
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)

 

September 11, 2017
(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 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 ("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. 488360108     

 

1. NAME OF REPORTING PERSONS  
  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON  
     
  K Equity, LLC  
     

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
    (a) x
    (b) ¨
       

3. SEC USE ONLY  
     
     

4. SOURCE OF FUNDS  
     
  OO  
     

5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)   ¨
       

6. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  Delaware  
     

  7.   SOLE VOTING POWER
     
NUMBER OF   -0-
SHARES 8.   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   -0-
EACH 9.   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   -0-
WITH 10.   SHARED DISPOSITIVE POWER
     
    -0-

     
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  -0-  
     

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
     

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  0%  
     

14. TYPE OF REPORTING PERSON  
     
  OO  
     

 

 

 

 

CUSIP No. 488360108     

 

1. NAME OF REPORTING PERSONS  
  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON  
     
  K Holdings, LLC  
     

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
    (a) x
    (b) ¨
       

3. SEC USE ONLY  
     
     

4. SOURCE OF FUNDS  
     
  OO  
     

5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)   ¨
       

6. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  Delaware  
     

  7   SOLE VOTING POWER
     
NUMBER OF   -0-
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   -0-
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   -0-
WITH 10   SHARED DISPOSITIVE POWER
     
    -0-

     
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  -0-  
     

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
     

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  0%  
     

14. TYPE OF REPORTING PERSON  
     
  OO  
     

 

 

 

 

CUSIP No. 488360108    

 

1. NAME OF REPORTING PERSONS  
  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON  
     
  Platinum Equity Capital Partners II, L.P.  
     

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
    (a) x
    (b) ¨
       

3. SEC USE ONLY  
     
     

4. SOURCE OF FUNDS  
     
  OO  
     

5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)   ¨
       

6. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  Delaware  
     

  7   SOLE VOTING POWER
     
NUMBER OF   -0-
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   -0-
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   -0-
WITH 10   SHARED DISPOSITIVE POWER
     
    -0-

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  -0-  
     

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
     

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  0%  
     

14. TYPE OF REPORTING PERSON  
     
  PN  
     

 

 

 

 

CUSIP No. 488360108     

 

1. NAME OF REPORTING PERSONS  
  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON  
     
  Platinum Equity Partners II, LLC  
     

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
    (a) x
    (b) ¨
       

3. SEC USE ONLY  
     
     

4. SOURCE OF FUNDS  
     
  OO  
     

5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)   ¨
       

6. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  Delaware  
     

  7   SOLE VOTING POWER
     
NUMBER OF   -0-
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   -0-
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   -0-
WITH 10   SHARED DISPOSITIVE POWER
     
    -0-

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  -0-  
     

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
     

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  0%  
     

14. TYPE OF REPORTING PERSON  
     
  OO  
     

 

 

 

 

CUSIP No. 488360108     

 

1. NAME OF REPORTING PERSONS  
  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON  
     
  Platinum Equity Investment Holdings II, LLC  
     

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
    (a) x
    (b) ¨
       

3. SEC USE ONLY  
     
     

4. SOURCE OF FUNDS  
     
  OO  
     

5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)   ¨
       

6. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  Delaware  
     

  7   SOLE VOTING POWER
     
NUMBER OF   -0-
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   -0-
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   -0-
WITH 10   SHARED DISPOSITIVE POWER
     
    -0-

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  -0-  
     

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
     

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  0%  
     

14. TYPE OF REPORTING PERSON  
     
  OO  
     

 

 

 

 

CUSIP No. 488360108     

 

1. NAME OF REPORTING PERSONS  
  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON  
     
  Platinum Equity, LLC  
     

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
    (a) x
    (b) ¨
       

3. SEC USE ONLY  
     
     

4. SOURCE OF FUNDS  
     
  OO  
     

5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)   ¨
       

6. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  Delaware  
     

  7   SOLE VOTING POWER
     
NUMBER OF   -0-
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   -0-
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   -0-
WITH 10   SHARED DISPOSITIVE POWER
     
    -0-

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  -0-  
     

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
     

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  0%  
     

14. TYPE OF REPORTING PERSON  
     
  OO  
     

 

 

 

 

CUSIP No. 488360108     

 

1. NAME OF REPORTING PERSONS  
  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON  
     
  Tom Gores  
     

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
    (a) x
    (b) ¨
       

3. SEC USE ONLY  
     
     

4. SOURCE OF FUNDS  
     
  OO  
     

5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)   ¨
       

6. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  USA  
     

  7   SOLE VOTING POWER
     
NUMBER OF   -0-
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   -0-
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   -0-
WITH 10   SHARED DISPOSITIVE POWER
     
    -0-

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  -0-  
     

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
     

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  0%  
     

14. TYPE OF REPORTING PERSON  
     
  IN  
     

 

 

 

 

ITEM 1. Security and Issuer

 

This Amendment No. 3 to Schedule 13D (this “Third Amendment”) amends and supplements the statement on Schedule 13D filed by the Reporting Persons (as defined below) on July 10, 2009 with the U.S. Securities and Exchange Commission (the “SEC”), as amended by Amendment No. 1 to Schedule 13D filed by the Reporting Persons on December 20, 2010 and Amendment No. 2 to Schedule 13D filed by the Reporting Persons on May 31, 2011 (collectively, the “Schedule 13D”). Capitalized terms used but not defined herein have the meanings given to such terms in the Schedule 13D. Except as otherwise provided in this Third Amendment, all Items of the Schedule 13D remain unchanged.

 

ITEM 2.   Identity and Background.

     

Parts (a), (b), (c) and (f) of Item 2 of the Schedule 13D are hereby amended and supplemented, with effect from the date of this Third Amendment, by adding the following:

 

This Third Amendment is being filed jointly by (i) K Equity, LLC, a Delaware limited liability company (“K Equity”), (ii) K Holdings, LLC, a Delaware limited liability company, (iii) Platinum Equity Capital Partners II, L.P., a Delaware limited partnership, (iv) Platinum Equity Partners II, LLC, a Delaware limited liability company, (v) Platinum Equity Investment Holdings II, LLC, a Delaware limited liability company, (vi) Platinum Equity, LLC, a Delaware limited liability company, and (vii) Tom Gores, an individual (collectively, the “Reporting Persons”).

 

ITEM 3.   Source and Amount of Funds or Other Consideration.

 

Item 3 of the Schedule 13D is hereby amended and supplemented, with effect from the date of this Third Amendment, by adding the following:

 

The information in Item 6 of this Third Amendment is incorporated herein by reference.

 

ITEM 4.   Purpose of Transaction.

 

Item 4 of the Schedule 13D is hereby amended and supplemented, with effect from the date of this Third Amendment, by adding the following:

 

The information in Item 6 of this Third Amendment is incorporated herein by reference.

 

ITEM 5.   Interests in Securities of the Issuer.

 

Parts (a) and (b) of Item 5 of the Schedule 13D are hereby amended and supplemented, with effect from the date of this Third Amendment, by adding the following:

 

 

 

 

The information in Item 6 of this Third Amendment is incorporated herein by reference.

 

ITEM 6.   Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

 

Item 6 of the Schedule 13D is hereby amended and supplemented, with effect from the date of this Third Amendment, by adding the following:

 

Additional Subsequent Events

 

On September 6, 2017, K Equity and the Company entered into an underwriting agreement (the “Underwriting Agreement”) with UBS Securities LLC (the “Underwriter”). Pursuant to the terms of the Underwriting Agreement, the Underwriter agreed to purchase from K Equity its common stock warrant, dated May 31, 2011, to purchase 8,416,814 shares of common stock of the Company (the “Warrant”).

 

Pursuant to the Underwriting Agreement, on September 11, 2017, K Equity sold the Warrant to the Underwriter for a price equal to $20.52 per share of underlying common stock of the Company. As a result of the foregoing sale of the Warrant to the Underwriter, K Equity no longer beneficially owns any shares of common stock of the Company on a post-sale basis.

 

The foregoing description of the Underwriting Agreement is qualified in its entirety by reference to the full text thereof, which is included as Exhibit 8 hereto, and is incorporated herein by reference.

 

ITEM 7.   Material to be Filed as Exhibits.

 

Item 7 of the Schedule 13D is hereby amended and supplemented, with effect from the date of this Third Amendment, by adding the following:

 

Exhibit 8   Equity Underwriting Agreement, dated September 6, 2017, by and among K Equity, the Company and UBS Securities LLC (incorporated by reference to Exhibit 1.1 of the Current Report on Form 8-K filed by the Company with the SEC on September 8, 2017).

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

 

Dated: September 13, 2017

 

  K EQUITY, LLC

 

  By: /s/ Mary Ann Sigler  
  Name: Mary Ann Sigler
  Title:

President and Treasurer

 

  K HOLDINGS, LLC

 

  By: /s/ Mary Ann Sigler  
  Name:

Mary Ann Sigler

  Title:

President and Treasurer

 

  PLATINUM EQUITY CAPITAL
PARTNERS II, L.P.

 

  By: PLATINUM EQUITY PARTNERS
II, LLC, its general partner

 

  By: PLATINUM EQUITY
INVESTMENT HOLDINGS II, LLC, its
senior managing member

 

  By: /s/ Mary Ann Sigler  
  Name:

Mary Ann Sigler

  Title:

Vice President and Treasurer

 

 

PLATINUM EQUITY PARTNERS II,
LLC

 

By: PLATINUM EQUITY
INVESTMENT HOLDINGS II, LLC, its
senior managing member 

 

  By: /s/ Mary Ann Sigler  
  Name:

Mary Ann Sigler

  Title:

Vice President and Treasurer

 

 

 

 

  PLATINUM EQUITY INVESTMENT
HOLDINGS II, LLC

 

  By: /s/ Mary Ann Sigler  
    Name: Mary Ann Sigler
    Title:

Vice President and Treasurer

         

  PLATINUM EQUITY, LLC

 

  By: /s/ Mary Ann Sigler  
    Name: Mary Ann Sigler
    Title:

Executive Vice President, Chief

Financial Officer and Treasurer

         

  /s/ Tom Gores*  
  Tom Gores, individually  

 

  *By: /s/ Mary Ann Sigler  
    Mary Ann Sigler, attorney-in-fact  

 

 

 

 

Exhibit Index

 

Exhibit 8  

Equity Underwriting Agreement, dated September 6, 2017, by and among K Equity, the Company and UBS Securities LLC (incorporated by reference to Exhibit 1.1 of the Current Report on Form 8-K filed by the Company with the SEC on September 8, 2017).