-----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, ErGtgBBMFMRXRg3qbEhpsN1T2szp8vcHmF1vhgrkYAoCes7cKD700UAySDy1vHOE GQ4SxxZtFypfvbCoB4eu4g== 0001047469-99-008486.txt : 19990305 0001047469-99-008486.hdr.sgml : 19990305 ACCESSION NUMBER: 0001047469-99-008486 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19990304 GROUP MEMBERS: CANYON CAPITAL ADVISORS LLC /ADV GROUP MEMBERS: JOSHUA S. FRIEDMAN GROUP MEMBERS: MITCHELL R. JULIS GROUP MEMBERS: R. CHRISTIAN B. EVENSEN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NORTEK INC CENTRAL INDEX KEY: 0000072423 STANDARD INDUSTRIAL CLASSIFICATION: AIR COND & WARM AIR HEATING EQUIP & COMM & INDL REFRIG EQUIP [3585] IRS NUMBER: 050314991 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-30364 FILM NUMBER: 99557258 BUSINESS ADDRESS: STREET 1: 50 KENNEDY PLZ CITY: PROVIDENCE STATE: RI ZIP: 02903 BUSINESS PHONE: 4017511600 MAIL ADDRESS: STREET 1: 50 KENNEDY PLAZA CITY: PROVIDENCE STATE: RI ZIP: 02903 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CANYON CAPITAL ADVISORS LLC /ADV CENTRAL INDEX KEY: 0001062244 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 954688436 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 9665 WILSHIRE BLVD STREET 2: STE 200 CITY: BEVERLY HILLS STATE: CA ZIP: 90212 BUSINESS PHONE: 3102472700 MAIL ADDRESS: STREET 1: 9665 WILSHIRE BLVD STREET 2: SUITE 200 CITY: BEVERLY HILLS STATE: CA ZIP: 90212 FORMER COMPANY: FORMER CONFORMED NAME: CANYON CAPITAL ADVISORS LLC /ADV DATE OF NAME CHANGE: 19980710 SC 13G 1 SCHEDULE 13G SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13G (RULE 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2 (AMENDMENT NO. 1)(1) NORTEK INC. ---------------- (Name of Issuer) COMMON STOCK ---------------- (Title of Class of Securities) 65655 9 101 -------------- (CUSIP Number) (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) /X/ Rule 13d-1(c) / / Rule 13d-1(d) - -------------------------- (1) 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 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. 65655 9 101 13G Page 2 of 8 Pages - ----------------------------------- ----------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: CANYON CAPITAL ADVISORS LLC I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - -------------------------------------------------------------------------------- NUMBER 5 SOLE VOTING POWER OF 557,500 SHARES --------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY 0 EACH --------------------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON 557,500 WITH --------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 557,500 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.0% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IA - -------------------------------------------------------------------------------- * SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------------------- ----------------------------------- CUSIP NO. 65655 9 101 13G Page 3 of 8 Pages - ----------------------------------- ----------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS MITCHELL R. JULIS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- NUMBER 5 SOLE VOTING POWER OF 0 SHARES --------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY 557,500 EACH --------------------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON 0 WITH --------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 557,500 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 557,500 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.0% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- * SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------------------- ----------------------------------- CUSIP NO. 65655 9 101 13G Page 4 of 8 Pages - ----------------------------------- ----------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS JOSHUA S. FRIEDMAN I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- NUMBER 5 SOLE VOTING POWER OF 0 SHARES --------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY 557,500 EACH --------------------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON 0 WITH --------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 557,500 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 557,500 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.0% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- * SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------------------- ----------------------------------- CUSIP NO. 65655 9 101 13G Page 5 of 8 Pages - ----------------------------------- ----------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS R. CHRISTIAN B. EVENSEN I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- NUMBER 5 SOLE VOTING POWER OF 0 SHARES --------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY 557,500 EACH --------------------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON 0 WITH --------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 557,500 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 557,500 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.0% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- * SEE INSTRUCTIONS BEFORE FILLING OUT! ITEM 1(a). NAME OF ISSUER: Nortek Inc. ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 50 Kennedy Plaza Providence, RI 02903-2360 ITEM 2(a). NAME OF PERSON FILING: This schedule is being filed on behalf of the following persons*: (i) Canyon Capital Advisors LLC ("CCA") (ii) Mitchell R. Julis (iii) Joshua S. Friedman (iv) R. Christian B. Evensen CCA is the investment advisor to the following persons: (i) The Value Realization Fund, L.P. ("VRF") (ii) The Value Realization Fund B, L.P. ("VRFB") (iii) The Canyon Value Realization Fund (Cayman), Ltd. ("CVRF") * Attached as Exhibit A is a copy of an agreement between the Persons filing (as specified hereinabove) that this Schedule 13G is being filed on behalf of each of them. ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE: The principal business office of the persons comprising the group filing this Schedule 13G is located at 9665 Wilshire Boulevard, Suite 200, Beverly Hills, CA 90212. ITEM 2(c). CITIZENSHIP: CCA: a Delaware limited liability company VRF: a Delaware limited partnership VRFB: a Delaware limited partnership CVRF: a Cayman Islands corporation Mitchell R. Julis: United States Joshua S. Friedman: United States R. Christian B. Evensen: United States 6 of 8 ITEM 2(d). TITLE OF CLASS OF SECURITIES: The class of securities beneficially owned by the persons filing this statement is common stock. ITEM 2(e). CUSIP NUMBER: 65655 9 101 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(c), CHECK THIS BOX: /X/ ITEM 4. OWNERSHIP: The information in items 1 and 5 through 11 on the cover pages (pp.2-5) on Schedule 13G is hereby incorporated by reference. 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: CCA is an investment advisor to various managed accounts, including VRF, VRFB, and CVRF, with the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities. Messrs. Julis, Friedman and Evensen are the sole general partners of entities which own 100% of CCA. 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 A GROUP: Not applicable. ITEM 9. NOTICE OF DISSOLUTION OF GROUP: Not applicable. 7 of 8 ITEM 10. CERTIFICATION By signing below I certify that, to the best of my 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. 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: March 4, 1999 CANYON CAPITAL ADVISORS LLC, R. CHRISTIAN B. EVENSEN a Delaware limited liability company By: /s/ MITCHELL R. JULIS /s/ R. CHRISTIAN B. EVENSEN --------------------------- --------------------------- Name: Mitchell R. Julis R. Christian B. Evensen ------------------- Title: Managing Director MITCHELL R. JULIS JOSHUA S. FRIEDMAN /s/ MITCHELL R. JULIS /s/ JOSHUA S. FRIEDMAN - ---------------------------------- -------------------------- Mitchell R. Julis Joshua S. Friedman 8 of 8 EX-99.(A) 2 EXHIBIT 99.(A) EXHIBIT A AGREEMENT REGARDING JOINT FILING The undersigned hereby agree and consent to the joint filing on their behalf of this Schedule 13G in connection with their beneficial ownership of the common stock of Nortek Inc. Dated: March 4, 1999 CANYON CAPITAL ADVISORS LLC a Delaware limited liability company By: /s/ MITCHELL R. JULIS ------------------------------- Name: Mitchell R. Julis ----------------- Title: Managing Director MITCHELL R. JULIS /s/ MITCHELL R. JULIS - ----------------------------------- Mitchell R. Julis JOSHUA S. FRIEDMAN /s/ JOSHUA S. FRIEDMAN - ----------------------------------- Joshua S. Friedman R. CHRISTIAN B. EVENSEN /s/ R. CHRISTIAN B. EVENSEN - ----------------------------------- R. Christian B. Evensen -----END PRIVACY-ENHANCED MESSAGE-----