-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NSKGuSvZnTGOfcaNcJyU3wywokmRsPC1+fTcgGFo563oj8Fodihk/e0OQyUDHMKq y/Mqwn/HWaDstAwx7hdvBQ== 0000950144-00-004706.txt : 20000410 0000950144-00-004706.hdr.sgml : 20000410 ACCESSION NUMBER: 0000950144-00-004706 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20000407 GROUP MEMBERS: CGW INC. GROUP MEMBERS: CGW SOUTHEAST IV, L.L.C. GROUP MEMBERS: CGW SOUTHEAST PARTNERS IV, L.P. GROUP MEMBERS: EDWIN A. WHALEN, JR. GROUP MEMBERS: JI ACQUISITION CORP GROUP MEMBERS: RICHARD L. CRAVEY SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: JOHNSTON INDUSTRIES INC CENTRAL INDEX KEY: 0000041017 STANDARD INDUSTRIAL CLASSIFICATION: BROADWOVEN FABRIC MILS, MAN MADE FIBER & SILK [2221] IRS NUMBER: 111749980 STATE OF INCORPORATION: DE FISCAL YEAR END: 0102 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-10249 FILM NUMBER: 595706 BUSINESS ADDRESS: STREET 1: 105 THIRTEENTH ST CITY: COLUMBUS STATE: GA ZIP: 31901 BUSINESS PHONE: 7066413140 MAIL ADDRESS: STREET 2: 105 THIRTEENTH ST CITY: COLUMBUS STATE: GA ZIP: 31901 FORMER COMPANY: FORMER CONFORMED NAME: GI EXPORT CORP DATE OF NAME CHANGE: 19850403 FORMER COMPANY: FORMER CONFORMED NAME: GEON INDUSTRIES INC DATE OF NAME CHANGE: 19770921 FORMER COMPANY: FORMER CONFORMED NAME: GEON TRADING CORP DATE OF NAME CHANGE: 19700915 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: JI ACQUISITION CORP CENTRAL INDEX KEY: 0001110708 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: TWELVE PIEDMONT CENTER STREET 2: SUITE 210 CITY: ATLANTA STATE: GA ZIP: 30305 BUSINESS PHONE: 4048163255 SC 13D 1 JOHNSTON INDUSTRIES INC 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. ________)* JOHNSTON INDUSTRIES, INC. (Name of Issuer) COMMON STOCK (INCLUDING ASSOCIATED PREFERRED STOCK PURCHASE RIGHT) (Title of Class of Securities) 479368102 (CUSIP Number) ROY A. BOWMAN JAMES A. O'DONNELL JI ACQUISITION CORP. c/o CGW SOUTHEAST PARTNERS IV, L.P. TWELVE PIEDMONT CENTER, SUITE 210 ATLANTA, GEORGIA 30305 404-816-3255 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) March 30, 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 which 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 [ ] 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 ("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 19 2 '------------------ CUSIP NO. 47936810 - ------------------ - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) JI ACQUISITION CORP. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------------------------------------------------------------------------------- 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 9,000,000 (SEE ITEM 5.) ------------------------------------------------------ SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 0 (SEE ITEM 5.) ------------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 9,000,000 (SEE ITEM 5.) ------------------------------------------------------ WITH 10 SHARED DISPOSITIVE POWER 0 (SEE ITEM 5.) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,000,000 (SEE ITEM 5.) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 45.66% (SEE ITEM 5.) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO - -------------------------------------------------------------------------------- Page 2 of 19 3 - ------------------ CUSIP NO. 47936810 - ------------------ - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) CGW SOUTHEAST PARTNERS IV, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------------------------------------------------------------------------------- 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 9,000,000 (SEE ITEM 5.) ------------------------------------------------------ SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 0 (SEE ITEM 5.) ------------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 9,000,000 (SEE ITEM 5.) ------------------------------------------------------ WITH 10 SHARED DISPOSITIVE POWER 0 (SEE ITEM 5.) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,000,000 (SEE ITEM 5.) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 45.66% (SEE ITEM 5.) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN - -------------------------------------------------------------------------------- Page 3 of 19 4 - ------------------ CUSIP NO. 47936810 - ------------------ - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) CGW SOUTHEAST IV, L.L.C. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------------------------------------------------------------------------------- 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 (SEE ITEM 5.) ------------------------------------------------------ SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 0 (SEE ITEM 5.) ------------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 (SEE ITEM 5.) ------------------------------------------------------ WITH 10 SHARED DISPOSITIVE POWER 0 (SEE ITEM 5.) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 (SEE ITEM 5.) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0% (SEE ITEM 5.) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO - -------------------------------------------------------------------------------- Page 4 of 19 5 - ------------------ CUSIP NO. 47936810 - ------------------ - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) CGW, INC. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION GEORGIA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 (SEE ITEM 5.) ------------------------------------------------------ SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 0 (SEE ITEM 5.) ------------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 (SEE ITEM 5.) ------------------------------------------------------ WITH 10 SHARED DISPOSITIVE POWER 0 (SEE ITEM 5.) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 (SEE ITEM 5.) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0 (SEE ITEM 5.) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO - -------------------------------------------------------------------------------- Page 5 of 19 6 - ------------------ CUSIP NO. 47936810 - ------------------ - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) RICHARD L. CRAVEY - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 (SEE ITEM 5.) ------------------------------------------------------ SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 0 (SEE ITEM 5.) ------------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 (SEE ITEM 5.) ------------------------------------------------------ WITH 10 SHARED DISPOSITIVE POWER 0 (SEE ITEM 5.) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 (SEE ITEM 5.) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0% (SEE ITEM 5.) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- Page 6 of 19 7 - ------------------ CUSIP NO. 47936810 - ------------------ - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) EDWIN A. WAHLEN, JR. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)[ ] (B)[ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 (SEE ITEM 5.) ------------------------------------------------------ SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 0 (SEE ITEM 5.) ------------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 (SEE ITEM 5.) ------------------------------------------------------ WITH 10 SHARED DISPOSITIVE POWER 0 (SEE ITEM 5.) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 (SEE ITEM 5.) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0 (SEE ITEM 5.) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- Page 7 of 19 8 ITEM 1. SECURITY AND ISSUER This statement on Schedule 13D (this "Schedule 13D") relates to the common stock, par value $.10 per share (the "Common Stock"), and the Series A convertible preferred stock (the "Preferred Stock") of Johnston Industries, Inc., a Delaware corporation ("Johnston Industries"). The principal executive offices of Johnston Industries are located at 105 Thirteenth Street, Columbus, GA 31901. ITEM 2. IDENTITY AND BACKGROUND (a)-(c), (f) This Schedule 13D is filed jointly on behalf of the following persons (collectively, the "Reporting Persons"): (1) JI Acquisition Corp., a Delaware corporation ("JI") (2) CGW Southeast Partners IV, L.P., a Delaware limited partnership ("CGW IV"), (3) CGW Southeast IV, L.L.C., a Delaware limited liability company ("CGW LLC"), (4) CGW, Inc., a Georgia corporation ("CGW, Inc."), (5) Richard L. Cravey ("Cravey"), and (6) Edwin A. Wahlen, Jr. ("Wahlen"). Cravey and Wahlen are citizens of the United States of America. The address of the principal offices of (1) JI, (1) CGW IV, (3) CGW LLC, and (4) CGW, Inc. is Twelve Piedmont Center, Suite 210, Atlanta, Georgia 30305. The business address of Cravey and Wahlen is Twelve Piedmont Center, Suite 210, Atlanta, Georgia 30305. The general partner of CGW IV is CGW LLC, and the manager of CGW LLC is CGW, Inc. JI is currently a wholly owned subsidiary of CGW IV. Cravey and Wahlen are the directors of CGW, Inc. CGW, Inc., through its managed partnerships, including CGW IV, is a private equity investment firm focused on acquisitions and recapitalizations of middle-market companies. As a result of the entering into the agreements described in Items 3 and 4 below, the Reporting Persons may be deemed to have formed a group with each other, for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934 and Rule 13d-5(b)(1) promulgated thereunder. The filing of this Schedule 13D is not an affirmation or admission that the Reporting Persons, or any of them, have formed such a group or constitute a group for any purpose. To the best knowledge of the Reporting Persons, Annex A attached hereto and incorporated herein by reference sets forth, as of the date hereof, the name, business address, present principal occupation or employment and citizenship of each executive officer and director of (1) CGW, Inc., (2) CGW LLC and (3) JI. (d)-(e) During the last five years, none of the Reporting Persons nor, to the best knowledge of the Reporting Persons, any of the executive officers or directors of (1) CGW, Inc., (2) CGW LLC and (3) JI has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or been a 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 JI plans to obtain the funds to consummate the transaction described in Item 4 from equity investments in JI by CGW IV. Page 8 of 19 9 ITEM 4. PURPOSE OF TRANSACTION On March 30, 2000, JI, CGW and Johnston Industries entered into a purchase agreement (the "Purchase Agreement"), a copy of which is attached as an exhibit hereto and incorporated herein by reference. JI entered into the Purchase Agreement with the intent of acquiring control of JI. Pursuant to the Purchase Agreement, but subject to satisfaction of the conditions precedent set forth therein, JI will (a) offer to purchase up to all the issued and outstanding Common Stock from the current holders thereof; (b) purchase an additional 8,750,000 shares of Common Stock directly from Johnston Industries; and, (c) purchase 250,000 shares of Preferred Stock directly from Johnston Industries, which is convertible into Common Stock on a one-for-one basis. As a result of the offer: - JI will offer to purchase each outstanding share of Common Stock for $3.00. - Each outstanding stock option to purchase shares of Common Stock granted under any stock option plan, compensation plan or arrangement of Johnston Industries will be cancelled, (excluding certain designated options with an exercise price below the offer price) and the holder thereof will be paid an amount equal to (i) the excess, if any, of (a) $3.00 over (b) the applicable exercise price per share multiplied by (ii) the number of shares such holder could have purchased pursuant to such option immediately prior to the closing of the offer. - JI shall be entitled to designate such number of directors, rounded up to the next whole number, on the Board of Directors of Johnston Industries as is equal to the proportion of outstanding shares of Common Stock owned by JI. - To the best of the Reporting Persons' knowledge, as of the date hereof, the officers of Johnston Industries will continue to be the officers of Johnston Industries. Page 9 of 19 10 The total consideration to be paid by JI for the transactions described herein, including cash to be paid in exchange for outstanding shares of Common Stock and in exchange for the cancellation of outstanding options and including the refinancing and assumption of debt of Johnston Industries and its subsidiaries, is approximately $200 million. Upon consummation of the transactions contemplated by the offer, the shares of Common Stock may cease to be authorized to be traded on The New York Stock Exchange, and the shares may become eligible for termination of registration under the Securities Exchange Act of 1934, as amended. References to, and descriptions of, the Purchase Agreement as set forth in this Item 4 are qualified in their entirety by reference to the copies of the Purchase Agreement included as an exhibit to this Schedule 13D and incorporated herein. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (a)-(c) As described in Item 4, upon the closing of the offer to purchase shares of Common Stock from the holders thereof, JI shall have the right, and obligation to purchase an additional 8,750,000 shares of Common Stock for an aggregate of $26.25 million and 250,000 shares of Preferred Stock for an aggregate of $750,000. The offer is conditioned upon JI obtaining at least a majority interest in the outstanding shares of voting capital stock and therefore, upon consummation of these transactions, JI would control at least 50.1% of the outstanding voting capital stock of Johnston. Other than as set forth in this Schedule 13D, to the best of the Reporting Persons' knowledge as of the date hereof, none of any of the Reporting Persons, any general partner of any of the Reporting Persons, any person in control (ultimately or otherwise) of any of the Reporting Persons, or any executive officer or director thereof (including Cravey and Wahlen) beneficially owns any Common Stock, and there have been no transactions in the Common Stock effected during the past 60 days by any of the foregoing. Beneficial ownership of the Common Stock shown on the cover pages of this Schedule 13D for each of the Reporting Persons assumes that the Reporting Persons have not formed a group for purposes of Section 13(d)(3) under the Securities Exchange Act of 1934, and Rule 13d-5(b)(1) promulgated thereunder. If the Reporting Persons were deemed to have formed a group for purposes of Section 13(d)(3) and Rule 13d-5(b)(1), the group would be deemed to own beneficially (and may be deemed to have shared voting and dispositive power over) 9,000,000 shares of capital stock in the aggregate, constituting approximately 45.6% of the outstanding shares of capital stock as of March 30, 2000, as represented by Johnston Industries in the Purchase Agreement. (d) Not applicable. (e) Not applicable. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER The information set forth in Items 2 through 5, inclusive, is hereby incorporated herein by reference. A copy of the Purchase Agreement is included as an exhibit to this Schedule 13D. To the best of the Reporting Persons' knowledge, except as described in this Schedule 13D, there are at present no contracts, arrangements, understandings or relationships (legal or otherwise) among the persons named in Item 2 hereof and between any such persons and any person with respect to any securities of Johnston Industries. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS The following documents are filed as exhibits to this Scheduled 13D: (a) Purchase Agreement by and among CGW Southeast Partners IV, L.P., JI Acquisition Corp. and Johnston Industries, Inc., dated as of March 30, 2000; filed with the Securities and Exchange Commission under cover of Schedule TO on April 7, 2000, and incorporated herein by reference. Page 10 of 19 11 (b) Joint Filing Statement dated April 6, 2000, among the signatories to this Schedule 13D. Page 11 of 19 12 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. April 6, 2000 - ----------------------------- JI ACQUISITION CORP. Date By: /s/ James A. O'Donnell ----------------------------------- Name: James A. O'Donnell --------------------------------- Title: Secretary and Treasurer -------------------------------- Page 12 of 19 13 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. CGW SOUTHEAST PARTNERS IV, L.P. April 6, 2000 - -------------------------------- By: CGW Southeast IV, L.L.C., Date its general partner By: CGW, Inc., its Manager By: /s/ James A. O'Donnell --------------------------------------- Name: James A. O'Donnell ------------------------------------- Title: Vice President ------------------------------------ Page 13 of 19 14 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. April 6, 2000 /s/ Richard L. Cravey - -------------------------------- -------------------------------- Date RICHARD L. CRAVEY Page 14 of 19 15 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. April 6, 2000 /s/ Edwin A. Whalen, Jr. - -------------------------------- -------------------------------- Date EDWIN A. WAHLEN, JR. Page 15 of 19 16 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. CGW, INC. April 6, 2000 - -------------------------------- By: /s/ James A. O'Donnell Date --------------------------------------- Name: James A. O'Donnell ------------------------------------- Title: Vice President ------------------------------------ Page 16 of 19 17 ANNEX A EXECUTIVE OFFICERS AND DIRECTORS OF CGW SOUTHEAST IV, L.L.C. - --------------------------------------------------------------------------------
NAME POSITION WITH REPORTING PERSON - ------------------------------------------------------------------------------------------------------------ Richard L. Cravey Director, President and Managing Director - ------------------------------------------------------- ---------------------------------------------------- Edwin A. Wahlen, Jr. Director, Vice President, Secretary and Managing Director - ------------------------------------------------------- ---------------------------------------------------- William A. Davies Managing Director and Assistant Secretary - ------------------------------------------------------- ---------------------------------------------------- Garrison M. Kitchen Managing Director - ------------------------------------------------------- ---------------------------------------------------- Bart A. McLean Managing Director - ------------------------------------------------------- ---------------------------------------------------- James A. O'Donnell Managing Director - ------------------------------------------------------- ----------------------------------------------------
For each person indicated above, the principal occupation or employment is managing director of Cravey, Green & Wahlen, a private equity investment firm that supports management teams in acquisitions and recapitalizations of middle-market companies, and the business address is Twelve Piedmont Center, Suite 210, Atlanta, Georgia 30305. Each person above if a citizen of the United States of America. Page 17 of 19 18 EXECUTIVE OFFICERS AND DIRECTORS OF CGW, INC. - --------------------------------------------------------------------------------
NAME POSITION WITH REPORTING PERSON - ----------------------------------------------------------------------------------------------------------- Edwin A. Wahlen, Jr. Director, President and Treasurer - ----------------------------------------------------------------------------------------------------------- Richard L. Cravey Director, Vice President and Secretary - ----------------------------------------------------------------------------------------------------------- William A. Davies Vice President - ----------------------------------------------------------------------------------------------------------- Michael D. Long Vice President - ----------------------------------------------------------------------------------------------------------- Bart A. McLean Vice President - ----------------------------------------------------------------------------------------------------------- Garrison M. Kitchen Vice President - ----------------------------------------------------------------------------------------------------------- James A. O' Donnell Vice President - ----------------------------------------------------------------------------------------------------------- Richard L. Cravey, Jr. Vice President - ----------------------------------------------------------------------------------------------------------- Roy Bowman Vice President
For each person indicated above, the principal occupation or employment is managing director of Cravey, Green & Wahlen, a private equity investment firm that supports management teams in acquisitions and recapitalizations of middle-market companies, and the business address is Twelve Piedmont Center, Suite 210, Atlanta, Georgia 30305. Each person above if a citizen of the United States of America. Page 18 of 19 19 EXECUTIVE OFFICERS AND DIRECTORS OF JI ACQUISITION, INC. - --------------------------------------------------------------------------------
NAME POSITION WITH REPORTING PERSON - ----------------------------------------------------------------------------------------------------------- Ray R. Bowman Director and President - ----------------------------------------------------------------------------------------------------------- Richard L. Cravey Director - ----------------------------------------------------------------------------------------------------------- James A. O'Donnell Secretary and Treasurer - -----------------------------------------------------------------------------------------------------------
For each person indicated above, the principal occupation or employment is managing director of Cravey, Green & Wahlen, a private equity investment firm that supports management teams in acquisitions and recapitalizations of middle-market companies, and the business address is Twelve Piedmont Center, Suite 210, Atlanta, Georgia 30305. Each person above if a citizen of the United States of America. Page 19 of 19 EX-99.(B) 2 JOINT FILING STATEMENT DATED APRIL 6,2000 1 EXHIBIT (b) JOINT FILING STATEMENT Each of the undersigned agrees that (i) the Schedule 13D relating to the common stock, $.10 par value, and the Series A convertible preferred stock of Johnston Industries, Inc. has been adopted and filed on behalf of each of them, (ii) all future amendments to such Schedule 13D will, unless written notice to the contrary is delivered as described below, be jointly filed on behalf of each of them, and (iii) the provisions of Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended, apply to each of them. Each of the persons signing this statement certifies to the other parties hereto that: - - None of such person or, to the knowledge of such person, any general partner of such person or any executive officer or director of such person or any general partner of such person has, during the last five years, been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors). - - None of such person or, to the knowledge of such person, any general partner of such person or any executive officer or director of such person or any general partner of such person was during the last five years a 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. Roy R. Bowman and James A. O'Donnell are hereby designated and authorized to receive notices and communications from the Securities and Exchange Commission with respect to the subject Schedule 13D and any amendments thereto filed pursuant to this statement. This statement may be terminated with respect to the obligations to file jointly future amendments to the subject Schedule 13D as to any of the undersigned upon such person giving written notice thereof to each of the other parties hereto, at the principal office thereof. This statement may be executed in counterparts. April 6, 2000 2 /s/ Richard L. Cravey ---------------------------------------- RICHARD L. CRAVEY /s/ Edwin A. Wahlen, Jr. ---------------------------------------- EDWIN A. WAHLEN, JR. CGW, INC. By: /s/ James A. O'Donnell -------------------------------------- Name: James A. O'Donnell ------------------------------------ Title: Vice President ----------------------------------- CGW SOUTHEAST IV, L.L.C. By: CGW, Inc., its manager By: /s/ James A. O'Donnell -------------------------------------- Name: James A. O'Donnell ------------------------------------ Title: Vice President ----------------------------------- CGW SOUTHEAST PARTNERS IV, L.P. By: CGW Southeast IV, L.L.C. its general partner By: CGW, Inc. its manager By: /s/ James A. O'Donnell -------------------------------------- Name: James A. O'Donnell ----------------------------------- Title: Vice President ---------------------------------- JI ACQUISITION CORP. By: /s/ James A. O'Donnell -------------------------------------- Name: James A. O'Donnell ----------------------------------- Title: Secretary and Treasurer ---------------------------------- 2 -----END PRIVACY-ENHANCED MESSAGE-----