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UNITED STATES | OMB APPROVAL |
SECURITIES AND EXCHANGE COMMISSION | ------------------------------
WASHINGTON, D.C. 20549 | OMB APPROVAL |
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SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(RULE 13D-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULE 13D-1(B), (C) AND (D) AND AMENDMENTS THERETO
FILED PURSUANT TO RULE 13D-2(B)
United Auto Group, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock par value $0.0001 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
909440109
--------------------------------------------------------------------------------
(CUSIP Number)
February 22, 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)
/ X / 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 in 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).
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED
IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY
VALID OMB CONTROL NUMBER.
SEC 1745 (3-98) Page 1 of 11 pages
SCHEDULE 13G
------------
ISSUER: United Auto Group, Inc. CUSIP NO.: 909440109
------ ---------
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
J.P. Morgan Partners (BHCA), L.P. (formerly known as Chase Equity
Associates, L.P.)
13-3371826
......................................................................
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ..................................................................
(b) x
..................................................................
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3. SEC Use Only .........................................................
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4. Citizenship or Place of Organization Delaware
.................................
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5. Sole Voting Power 0
....................................
Number of Shares ------------------------------------------------------------
Beneficially 6. Shared Voting Power 0
Owned by Each ..................................
Reporting Person ------------------------------------------------------------
With: 7. Sole Dispositive Power 0
...............................
------------------------------------------------------------
8. Shared Dispositive Power 5,925,196
.............................
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9. Aggregate Amount Beneficially Owned by Each Reporting Person 5,925,196
.........
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) ........................................................
11. Percent of Class Represented by Amount in Row (9) 18.2%
....................
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12. Type of Reporting Person (See Instructions) PN
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.................................................................................
.................................................................................
.................................................................................
.................................................................................
.................................................................................
.................................................................................
.................................................................................
.................................................................................
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SEC 1745 (3-98) Page 2 of 11 pages
SCHEDULE 13G
------------
ISSUER: United Auto Group, Inc. CUSIP NO.: 909440109
------ ---------
PRELIMINARY NOTE:
On February 22, 2002, International Motor Cars Group I, L.L.C. ("IMCG
I") and J.P. Morgan Partners (BHCA), L.P. ("JPMP"), Virginia Surety Company,
Inc. ("AON"), Penske Corporation, and Penske Capital Partners, L.L.C. (the
"Managing Member", and each of JPMP, AON and Penske Corporation, an "IMCG I
Member"), being all the members of IMCG I, entered into a letter agreement (the
"IMCG I Letter Agreement"). Under the terms of the IMCG I Letter Agreement each
IMCG I Member may, in connection with its execution of a cash sale of shares of
Series A preferred stock or common stock of United Auto Group, Inc. (the
"Issuer") attributable to its membership interest in IMCG I, require that IMCG I
distribute such shares to that IMCG I Member, subject to certain conditions (an
"IMCG I Member Distribution"). Such conditions are as follows: (i) until
February 22, 2003, no IMCG I Member may require IMCG I to distribute any of the
shares of Common Stock obtained by IMCG I pursuant to its exercise of warrants
of the Issuer on February 1, 2002, unless immediately after giving effect to
such distribution, no other shares of Series A preferred stock, Series B
preferred stock or common stock of the Issuer are attributable to such IMCG I
Member's membership interest in IMCG I or, with respect to JPMP, IMCG II (as
defined below) and (ii) other than distributions permitted by the IMCG I Letter
Agreement or in connection with reallocation of shares to the Managing Member
permitted under IMCG I's operating agreement, IMCG I will not sell or otherwise
transfer to a third party any shares of the Issuer attributable to an IMCG I
Member's membership interest, without the prior written consent of such IMCG I
Member. Moreover, neither IMCG I nor any IMCG I Member can cause the conversion
of any shares of Series A preferred stock attributable to its membership
interest, except in connection with an IMCG I Member Distribution and upon
receipt by IMCG I of notice of redemption by the Issuer. Notwithstanding the
foregoing, the Managing Member shall have the right at any time to cause IMCG I
to distribute to an IMCG I Member all or a portion of the shares of Series A
preferred stock and/or common stock of the Issuer (or any proceeds of such
shares) attributable to such IMCG I Member's membership interest.
On February 22, 2002, International Motor Cars Group II, L.L.C. ("IMCG
II") and JPMP and the Managing Member (each of JPMP and the Managing Member, an
"IMCG II Member"), being all the members of IMCG II, entered into a letter
agreement (the "IMCG II Letter Agreement"). Under the terms of the IMCG II
Letter Agreement each IMCG II Member may, in connection with its execution of a
cash sale of shares of Series A preferred stock, Series B preferred stock or
common stock of the Issuer attributable to its membership interest in IMCG II,
require that IMCG II distribute such shares to that IMCG II Member, subject to
certain conditions (an "IMCG II Member Distribution"). Such conditions are as
follows: (i) until February 22, 2003, no IMCG II Member may require IMCG II to
distribute any of the shares of Common Stock obtained by IMCG II pursuant to its
exercise of warrants of the Issuer on February 1, 2002, unless immediately after
giving effect to such distribution, no other shares of Series A preferred stock,
Series B preferred stock or common stock of the Issuer are attributable to such
IMCG II Member's membership interest in IMCG I or IMCG II and (ii) other than
distributions permitted by the IMCG II Letter Agreement or in connection with
reallocation of shares to the Managing Member permitted under IMCG II's
operating agreement, IMCG II will not sell or otherwise transfer to a third
party any shares of the Issuer attributable to an IMCG II Member's membership
interest, without the prior written consent of such IMCG II Member. Moreover,
neither IMCG II nor any IMCG II Member can cause the conversion of any shares of
Series A preferred stock or Series B preferred stock of the Issuer attributable
to its membership interest, except in connection with an IMCG II Member
Distribution and upon receipt by IMCG II of notice of redemption by the Issuer.
Notwithstanding the foregoing, the Managing Member shall have the right at any
time to cause IMCG II to distribute to an IMCG II Member all or a portion of the
shares of Series A preferred stock, Series B preferred stock and/or common stock
of the Issuer (or any proceeds of such shares) attributable to such IMCG II
Member's membership interest.
The number of shares reported as beneficially owned by JPMP in this
Schedule 13G represent the shares of the Issuer attributable as of February 22,
2002 to JPMP's membership interests in IMCG I and IMCG II. However, pursuant to
the respective operating agreements of each of IMCG I and IMCG II, the number of
shares of the Issuer attributable to JPMP's membership interests in IMCG I and
IMCG II shall be reduced at the time of each IMCG I or IMCG II Member
Distribution to JPMP by the number of shares actually distributed to JPMP and by
the number of shares representing the carried interest payable to the Managing
Member pursuant to the respective operating agreements of each of IMCG I and
IMCG II with respect to the shares so distributed to JPMP.
ITEM 1.
(A) NAME OF ISSUER:
--------------
United Auto Group, Inc.
(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
-----------------------------------------------
13400 Outer Drive West, Suite B-36
Detroit, Michigan 48239
SEC 1745 (3-98) Page 3 of 11 pages
SCHEDULE 13G
------------
ISSUER: United Auto Group, Inc. CUSIP NO.: 909440109
------ ---------
ITEM 2.
(A) NAME OF PERSON FILING:
---------------------
J.P. Morgan Partners (BHCA), L.P.
Supplemental information relating to the ownership and control of
the person filing this statement is included in Exhibit 2(a)
attached hereto.
(B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
-----------------------------------------------------------
1221 Avenue of the Americas
New York, New York 10020
(C) CITIZENSHIP:
-----------
Delaware
(D) TITLE OF CLASS OF SECURITIES (OF ISSUER):
----------------------------------------
Common Stock, par value $0.0001 per share
(E) CUSIP NUMBER:
------------
909440109
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:
Not applicable.
ITEM 4. OWNERSHIP
(A) AMOUNT BENEFICIALLY OWNED:
--------------------------
5,925,196
(B) PERCENT OF CLASS:
-----------------
18.2% as of 2/22/02
(C) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
--------------------------------------------
(i) Sole power to vote or to direct the vote: 0.
(ii) Shared power to vote or to direct the vote: 0.
(iii) Sole power to dispose or to direct the disposition of: 0.
(iv) Shared power to dispose or to direct the disposition of:
5,925,196.
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.
SEC 1745 (3-98) Page 4 of 11 pages
SCHEDULE 13G
------------
ISSUER: United Auto Group, Inc. CUSIP NO.: 909440109
------ ---------
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.
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.
SEC 1745 (3-98) Page 5 of 11 pages
SCHEDULE 13G
------------
ISSUER: United Auto Group, Inc. CUSIP NO.: 909440109
------ ---------
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.
Date: March 1, 2002
J.P. MORGAN PARTNERS (BHCA), L.P.
By: JPMP Master Fund Manager, L.P.,
its General Partner
By: JPMP Capital Corp.,
its General Partner
By: /s/ Donald J. Hofmann, Jr.
-----------------------------
Name: Donald J. Hofmann, Jr.
Title: Managing Director
SEC 1745 (3-98) Page 6 of 11 pages
SCHEDULE 13G
------------
ISSUER: United Auto Group, Inc. CUSIP NO.: 909440109
------ ---------
EXHIBIT 2(A)
------------
This statement is being filed by J.P. Morgan Partners (BHCA),
L.P. (formerly known as Chase Equity Associates, L.P.), a Delaware limited
partnership (hereinafter referred to as "JPMP (BHCA)"), whose principal business
office is located at 1221 Avenue of the Americas, New York, New York 10020. JPMP
(BHCA) is engaged in the venture capital and leveraged buyout business. The
general partner of JPMP (BHCA) is JPMP Master Fund Manager, L.P. (formerly known
as Chase Capital Partners, a New York general partnership), a Delaware limited
partnership (hereinafter referred to as "JPMP Master Fund"), whose principal
business office is located at the same address as JPMP (BHCA), and is also
directly or indirectly (through affiliates) engaged in the venture capital and
leveraged buyout business. The general partner of JPMP Master Fund is JPMP
Capital Corp. (formerly known as Chase Capital Corporation), a New York
corporation (hereinafter referred to as "JPMP Capital Corp."), whose principal
business office is located at the same address as JPMP (BHCA), and is also
engaged in the venture capital and leveraged buyout business. Set forth in
Schedule A hereto and incorporated herein by reference are the names, business
addresses, principal occupations and employments of each executive officer and
director of JPMP Capital Corp.
JPMP Capital Corp. is a wholly owned subsidiary of J.P. Morgan
Chase & Co. (formerly known as The Chase Manhattan Corporation), a Delaware
corporation (hereinafter referred to as "JP Morgan Chase") which is engaged
(primarily through subsidiaries) in the commercial banking business with its
principal office located at 270 Park Avenue, New York, New York 10017. Set forth
in Schedule B hereto and incorporated herein by reference are the names,
business addresses, principal occupations and employments of each executive
officer and director of JP Morgan Chase.
SEC 1745 (3-98) Page 7 of 11 pages
SCHEDULE 13G
------------
ISSUER: United Auto Group, Inc. CUSIP NO.: 909440109
------ ---------
SCHEDULE A
----------
JPMP CAPITAL CORP.
------------------
EXECUTIVE OFFICERS(1)
---------------------
President Jeffrey C. Walker*
Executive Vice President Mitchell J. Blutt, M.D.*
Executive Vice President Arnold L. Chavkin*
Executive Vice President John M.B. O'Connor*
Managing Director Dr. Dana Beth Ardi*
Managing Director John R. Baron*
Managing Director Christopher C. Behrens*
Managing Director David S. Britts*
Managing Director Julie Casella-Esposito*
Managing Director Jerome Colonna*
Managing Director Rodney A. Ferguson*
Managing Director David L. Ferguson*
Managing Director David Gilbert*
Managing Director Eric A. Green*
Managing Director Michael R. Hannon*
Managing Director Donald J. Hofmann, Jr. *
Managing Director W. Brett Ingersoll*
Managing Director Alfredo Irigoin*
Managing Director Andrew Kahn*
Managing Director Jonathan R. Lynch*
Managing Director Thomas G. Mendell*
Managing Director Stephen P. Murray*
Managing Director Timothy Purcell*
Managing Director Faith Rosenfeld*
Managing Director Robert R. Ruggiero, Jr. *
Managing Director Susan L. Segal*
Managing Director Kelly Shackelford*
Managing Director Shahan D. Soghikian*
Managing Director Patrick J. Sullivan*
Managing Director Timothy J. Walsh*
Managing Director Richard D. Waters, Jr. *
Managing Director Damion E. Wicker, M.D.*
Managing Director Eric R. Wilkinson*
Senior Vice President Marcia Bateson*
Senior Vice President and Assistant Secretary Mounir Nahas*
Senior Vice President and Assistant Secretary Stephen Skoczylas*
Senior Vice President, Treasurer and Assistant Secretary Elisa R. Stein*
Vice President and Assistant Secretary Jeffrey Glatt*
Vice President and Assistant Secretary Puneet Gulati*
Vice President and Assistant Secretary Sandra King*
Vice President and Assistant Secretary Scott Kraemer*
Secretary Anthony J. Horan**
Assistant Secretary Robert C. Caroll**
Assistant Secretary Denise G. Connors**
---------------
(1) Each of whom is a United States citizen except for Messrs. Britts, Irigoin,
and Soghikian.
* Principal occupation is employee and/or officer of J.P. Morgan Partners,
LLC. Business address is c/o J.P. Morgan Partners, LLC, 1221 Avenue of the
Americas, New York, New York 10020.
** Principal occupation is employee or officer of J.P. Morgan Chase & Co.
Business address is c/o J.P. Morgan Chase & Co., 270 Park Avenue, New York,
New York 10017.
SEC 1745 (3-98) Page 8 of 11 pages
SCHEDULE 13G
------------
ISSUER: United Auto Group, Inc. CUSIP NO.: 909440109
------ ---------
DIRECTORS(1)
------------
William B. Harrison**
Jeffrey C. Walker*
---------------
(1) Each of whom is a United States citizen.
* Principal occupation is employee and/or officer of J.P. Morgan Partners,
LLC. Business address is c/o J.P. Morgan Partners, LLC, 1221 Avenue of the
Americas, New York, New York 10020.
** Principal occupation is employee or officer of J.P. Morgan Chase & Co.
Business address is c/o J.P. Morgan Chase & Co., 270 Park Avenue, New York,
New York 10017.
SEC 1745 (3-98) Page 9 of 11 pages
SCHEDULE 13G
------------
ISSUER: United Auto Group, Inc. CUSIP NO.: 909440109
------ ---------
SCHEDULE B
----------
J.P. MORGAN CHASE & CO.
-----------------------
EXECUTIVE OFFICERS(1)
---------------------
Chairman of the Board and Chief Executive Officer William B. Harrison Jr.*
Vice Chairman; Co-Chief Executive Officer, Investment Bank Geoffrey T. Boisi *
Vice Chairman; Head of Retail and Middle Market, Financial Services and David A. Coulter*
Management and Private Banking
Director of Human Resources John J. Farrell*
Vice Chairman; Chairman, Investment Bank Walter A. Gubert*
Vice Chairman Thomas B. Ketchum*
Director of Corporate Marketing and Communications Frederick W. Hill*
Vice Chairman; Co-Chief Executive Officer, Investment Bank Donald H. Layton*
Vice Chairman James B. Lee Jr. *
General Counsel William H. McDavid*
Vice Chairman; Head of Finance, Risk Management and Administration Marc J. Shapiro*
Vice Chairman Jeffrey C. Walker**
Executive Vice President; General Auditor William J. Moran*
Chief Financial Officer Dina Dublon*
Executive Vice President; Head of Market Risk Management Lesley Daniels Webster*
Managing Director; Corporate Treasurer David B. Edelson*
Managing Director; Head of Credit Risk Policy Suzanne Hammett*
Corporate Secretary Anthony James Horan*
Senior Vice President; Chief Compliance Officer Gregory S. Meredith*
Controller Joseph L. Scalfani*
Assistant Corporate Secretary James C. Berry*
DIRECTORS(1)
------------
PRINCIPAL OCCUPATION OR EMPLOYMENT;
NAME BUSINESS OR RESIDENCE ADDRESS
--------------------------------------------------------------------------------
Hans W. Becherer Retired Chairman of the Board and
Chief Executive Officer
Deere & Company
One John Deere Place
Moline, IL 61265
--------------------------------------------------------------------------------
Riley P. Bechtel Chairman and Chief Executive Officer
Bechtel Group, Inc.
P.O. Box 193965
San Francisco, CA 94119-3965
--------------------------------------------------------------------------------
Frank A. Bennack, Jr. President and Chief Executive Officer
The Hearst Corporation
959 Eighth Avenue
New York, New York 10019
--------------------------------------------------------------------------------
---------------
(1) Each of whom is a United States citizen.
* Principal occupation is employee and/or officer of J.P. Morgan Chase & Co.
Business address is c/o J.P. Morgan Chase & Co., 270 Park Avenue, New York,
New York 10017.
** Principal occupation is employee or officer of J.P. Morgan Partners, LLC.
Business address is c/o J.P. Morgan Partners, LLC, 1221 Avenue of the
Americas, New York, New York 10020.
SEC 1745 (3-98) Page 10 of 11 pages
SCHEDULE 13G
------------
ISSUER: United Auto Group, Inc. CUSIP NO.: 909440109
------ ---------
PRINCIPAL OCCUPATION OR EMPLOYMENT;
NAME BUSINESS OR RESIDENCE ADDRESS
--------------------------------------------------------------------------------
Lawrence A. Bossidy Chairman of the Board
Honeywell International
P.O. Box 3000
Morristown, NJ 07962-2245
--------------------------------------------------------------------------------
M. Anthony Burns Chairman of the Board
Ryder System, Inc.
3600 N.W. 82nd Avenue
Miami, Florida 33166
--------------------------------------------------------------------------------
H. Laurence Fuller Retired Co-Chairman
BP Amoco p.l.c.
1111 Warrenville Road, Suite 25
Chicago, Illinois 60563
--------------------------------------------------------------------------------
Ellen V. Futter President and Trustee
American Museum of Natural History
Central Park West at 79th Street
New York, NY 10024
--------------------------------------------------------------------------------
William H. Gray, III President and Chief Executive Officer
The College Fund/UNCF
9860 Willow Oaks Corporate Drive
P.O. Box 10444
Fairfax, Virginia 22031
--------------------------------------------------------------------------------
William B. Harrison, Jr. Chairman of the Board and Chief Executive Officer
J.P. Morgan Chase & Co.
270 Park Avenue, 8th Floor
New York, New York 10017-2070
--------------------------------------------------------------------------------
Helene L. Kaplan Of Counsel
Skadden, Arps, Slate, Meagher & Flom LLP
Four Times Square
New York, New York 10036
--------------------------------------------------------------------------------
Lee R. Raymond Chairman of the Board and Chief Executive Officer
Exxon Mobil Corporation
5959 Las Colinas Boulevard
Irving, TX 75039-2298
--------------------------------------------------------------------------------
John R. Stafford Chairman of the Board
American Home Products Corporation
5 Giralda Farms
Madison, New Jersey 07940
--------------------------------------------------------------------------------
Lloyd D. Ward Chief Executive Officer
U.S. Olympic Committee
One Olympic Plaza
Colorado Springs, CO 80909
--------------------------------------------------------------------------------
Marina v.N. Whitman Professor of Business Administration and Public Policy
The University of Michigan
School of Public Policy
411 Lorch Hall, 611 Tappan Street
Ann Arbor, MI 48109-1220
--------------------------------------------------------------------------------
SEC 1745 (3-98) Page 11 of 11 pages