UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __)*
NATCO GROUP, INC.
-----------------
(Name of Issuer)
Common Stock, par value $0.01 per share
---------------------------------------
(Title of Class of Securities)
63227W 20 3
--------------
(CUSIP Number)
December 31, 2002
-------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] 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).
Page 1 of 11 Pages
CUSIP NO. 63227W 20 3
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CAPRICORN INVESTORS II, L.P.
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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
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY ----------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH REPORT- 3,095,023
ING PERSON ----------------------------------
WITH 7 SOLE DISPOSITIVE POWER
-0-
----------------------------------
8 SHARED DISPOSITIVE POWER
3,095,023
----------------------------------
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,095,023
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [X]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
19.57%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
PN
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Page 2 of 11
CUSIP NO. 63227W 20 3
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CAPRICORN HOLDINGS, 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
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY ----------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH REPORT- 3,095,023
ING PERSON ----------------------------------
WITH 7 SOLE DISPOSITIVE POWER
-0-
----------------------------------
8 SHARED DISPOSITIVE POWER
3,095,023
----------------------------------
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,095,023
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [X]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
19.57%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
Page 3 of 11
CUSIP NO. 63227W 20 3
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CAPRICORN HOLDINGS, 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
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY ----------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH REPORT- 1,835,951
ING PERSON ----------------------------------
WITH 7 SOLE DISPOSITIVE POWER
0
----------------------------------
8 SHARED DISPOSITIVE POWER
1,835,951
----------------------------------
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,835,951
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.62%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
CO
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Page 4 of 11
CUSIP NO. 63227W 20 3
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HERBERT S. WINOKUR, JR.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 4,957,402
BENEFICIALLY ----------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH REPORT- -0-
ING PERSON ----------------------------------
WITH 7 SOLE DISPOSITIVE POWER
4,957,402
----------------------------------
8 SHARED DISPOSITIVE POWER
-0-
----------------------------------
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,957,402
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [X]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
31.35%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
Page 5 of 11
Item 1.
(a) Name of Issuer:
NATCO Group, Inc.
(b) Address of Issuer's Principal Executive Offices:
2950 North Loop West
7th Floor
Houston, TX 77092
Item 2.
(a) Name of Persons Filing:
Capricorn Investors II, L.P.
Capricorn Holdings, LLC
Capricorn Holdings, Inc.
Herbert S. Winokur, Jr.
(b) Address of Principal Business Office or, if none, Residence:
The principal business office of all of the filing parties is
30 East Elm Street, Greenwich, CT 06830.
(c) Citizenship:
Capricorn Investors II, L.P. is a Delaware limited
partnership. Capricorn Holdings, LLC is a Delaware limited liability
company and the general partner of Capricorn Investors II, L.P.
Capricorn Holdings, Inc. is a Delaware corporation. Herbert S. Winokur,
Jr. is a citizen of the United States.
(d) Title of Class of Securities:
Common stock, par value $0.01 per share.
(e) CUSIP Number:
63227W 20 3
Item 3. If this statement is filed pursuant to ss.ss.240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under section 15 of the Act (15
U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
Page 6 of 11
(e) [ ] An investment adviser in accordance with
ss.240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
ss.240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance withss.240.13d-1(b)(1)(ii)(J);
NOT APPLICABLE
Item 4. Ownership.
Provide the following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned: 4,957,402 shares.
(b) Percent of class: 31.35%.
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 4,957,402
shares.
(ii) Shared power to vote or to direct the vote: -0-
(iii) Sole power to dispose or to direct the disposition of:
4,957,402 shares.
(iv) Shared power to dispose or to direct the disposition of:
-0-.
Item 5. Ownership of Five Percent or Less of a Class.
NOT APPLICABLE
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
NOT APPLICABLE
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company or Control
Person.
SEE EXHIBIT 1
Page 7 of 11
Item 8. Identification and Classification of Members of the Group.
NOT APPLICABLE
Item 9. Notice of Dissolution of Group.
NOT APPLICABLE
Item 10. Certification.
NOT APPLICABLE
Page 8 of 11
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: February 5, 2003 CAPRICORN INVESTORS II, L.P.
By: CAPRICORN HOLDINGS, LLC, its General
Partner
By: /s/ HERBERT S. WINOKUR, JR.
-------------------------------------
Name: Herbert S. Winokur, Jr.
Title: Managing Member
Dated: February 5, 2003 CAPRICORN HOLDINGS, LLC
By: /s/ HERBERT S. WINOKUR, JR.
-------------------------------------
Name: Herbert S. Winokur, Jr.
Title: Managing Member
Dated: February 5, 2003 CAPRICORN HOLDINGS, INC.
By: /s/ HERBERT S. WINOKUR, JR.
-------------------------------------
Name: Herbert S. Winokur, Jr.
Title: President
Dated: February 5, 2003 /s/ HERBERT S. WINOKUR, JR.
-----------------------------------------
Herbert S. Winokur, Jr.
Page 9 of 11
EXHIBIT 1
EXPLANATION OF ITEM 7
This Schedule 13G is being filed by Capricorn Investors II, L.P., a
Delaware limited partnership ("Capricorn II"), Capricorn Holdings, LLC, a
Delaware limited liability company and the general partner of Capricorn II
("Holdings LLC"), Capricorn Holdings, Inc., a Delaware corporation ("Holdings
Inc.") and Herbert S. Winokur, Jr. ("Mr. Winokur") (collectively, the "Filing
Parties"). Of the shares reported as beneficially owned in this Schedule 13G,
3,095,023 such shares are owned directly by Capricorn II (of which 3,087,021
shares are issued and outstanding and 8,002 shares are issuable upon exercise of
presently exercisable options), 1,835,951 shares are owned directly by Holdings
Inc. and 26,428 such shares are owned directly by Mr. Winokur. The shares
beneficially owned by Capricorn II do not include 1,332 shares issuable upon
exercise of options held by Capricorn II that are not currently exercisable. As
general partner of Capricorn II, Holdings LLC is the indirect beneficial owner
of the shares owned directly by Capricorn II. As the manager of Holdings LLC and
the sole stockholder of Holdings Inc., Mr. Winokur may be deemed to control each
of them and, in such capacities, possesses voting and dispositive power over the
shares held by Capricorn II and Holdings Inc. Accordingly, Mr. Winokur may be
deemed the beneficial owner of all of the shares reported as beneficially owned
by the Filing Parties.
Page 10 of 11
EXHIBIT 2
JOINT FILING AGREEEMNT
AMONG
CAPRICORN INVESTORS II, L.P., CAPRICORN HOLDINGS, LLC
CAPRICORN HOLDINGS, INC.
AND
HERBERT S. WINOKUR, JR.
The undersigned hereby agree that the Schedule 13G with respect to the
common stock without par value of NATCO Group, Inc. (the "Schedule 13G") is, and
any amendments thereto executed by each of us shall be, filed on behalf of us
pursuant to and in accordance with the provisions of Rule 13d-1(k)(1) under the
Securities Exchange Act of 1934, as amended. Each of the undersigned agrees to
be responsible for the timely filing of the Schedule 13G and any amendments
thereto, and for the completeness and accuracy of the information concerning
itself contained therein.
Dated: February 5, 2003
CAPRICORN INVESTORS II, L.P.
By: CAPRICORN HOLDINGS, LLC, its General
Partner
By: /s/ HERBERT S. WINOKUR, JR.
-------------------------------------
Name: Herbert S. Winokur, Jr.
Title: Managing Member
CAPRICORN HOLDINGS, LLC
By: /s/ HERBERT S. WINOKUR, JR.
-------------------------------------
Name: Herbert S. Winokur, Jr.
Title: Managing Member
CAPRICORN HOLDINGS, INC.
By: /s/ HERBERT S. WINOKUR, JR.
-------------------------------------
Name: Herbert S. Winokur, Jr.
Title: President
/s/ HERBERT S. WINOKUR, JR.
-----------------------------------------
Herbert S. Winokur, Jr.
Page 11 of 11