UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 5)
Under the Securities Exchange Act of 1934
ERESEARCH TECHNOLOGY, INC.
-----------------
(Name of Issuer)
Common Stock
-----------------------------
(Title of Class of Securities)
29481V108
---------
(CUSIP Number)
Gregory D. Hitchan
Blum Capital Partners, L.P.
909 Montgomery Street, Suite 400
San Francisco, CA 94133
(415) 434-1111
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 21, 2008
--------------
(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 Section 240.13d-1(e), 240.13d-1(f) or 240.13d-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 Section 240.13d-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 15
CUSIP NO. 29481V108 SCHEDULE 13D Page 2 of 15
------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM CAPITAL PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3205364
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 8,063,655**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 8,063,655**
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,063,655**
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.9%**
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
------------------------------------------------------------------------------
** See Item 5 below
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 3 of 15
------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-2967812
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 8,063,655**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 8,063,655**
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,063,655**
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.9%**
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
------------------------------------------------------------------------------
** See Item 5 below
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 4 of 15
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP II, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3395150
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
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 -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 8,063,655**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 8,063,655**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,063,655**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.9%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5 below
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 5 of 15
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP III, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 04-3809436
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
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 -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 8,063,655**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 8,063,655**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,063,655**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.9%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 6 of 15
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP III, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 02-0742606
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
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 -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 8,063,655**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 8,063,655**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,063,655**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.9%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
-----------------------------------------------------------------------------
** See Item 5
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 7 of 15
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP IV, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 26-0588693
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
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 -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 8,063,655**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 8,063,655**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,063,655**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.9%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 8 of 15
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP IV, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 26-0588732
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
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 -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 8,063,655**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 8,063,655**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,063,655**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.9%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
-----------------------------------------------------------------------------
** See Item 5
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 9 of 15
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON SADDLEPOINT PARTNERS GP, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 83-0424234
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
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 -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 8,063,655**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 8,063,655**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,063,655**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.9%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 10 of 15
Item 1. Security and Issuer
----------------------------
This Amendment No. 5 amends the Statement on Schedule 13D (the "Schedule 13D")
filed with the Securities and Exchange Commission (the "Commission") on
January 3, 2008 by Blum Capital Partners, L.P., a California limited
partnership ("Blum LP"); Richard C. Blum & Associates, Inc., a California
corporation ("RCBA Inc."); Blum Strategic GP II, L.L.C., a Delaware limited
liability company ("Blum GP II")."); Blum Strategic GP III, L.L.C., a Delaware
limited liability company ("Blum GP III"); and Blum Strategic GP III, L.P., a
Delaware limited partnership ("Blum GP III LP") and Saddlepoint Partners
GP, L.L.C., a Delaware limited liability company ("Saddlepoint GP")
(collectively, the "Reporting Persons").
This amendment relates to shares of common stock, $.01 par value (the "Common
Stock") of eResearch Technology, Inc., a Delaware corporation (the "Issuer").
The principal executive office and mailing address of the Issuer is 30 South
17th Street, Philadelphia, Pennsylvania 19103.
The following amendments to the Schedule 13D are hereby made. Unless
otherwise defined herein, all capitalized terms shall have the meanings
ascribed to them in the Schedule 13D.
Item 2. Identity and Background
---------------------------------
Item 2 of the Schedule 13D is hereby amended to add the following:
Blum Strategic GP IV, L.L.C ("Blum GP IV") is a Delaware limited liability
company whose principal business is acting as the general partner of Blum
Strategic GP IV, L.P. ("Blum GP IV LP"), a Delaware limited partnership,
whose principal business is acting as the general partner of Blum Strategic
Partners IV, L.P. ("Blum Strategic IV"), whose principal office is 909
Montgomery Street, Suite 400, San Francisco, California 94133.
The principal business office address of Blum GP IV and Blum GP IV LP is
909 Montgomery Street, Suite 400, San Francisco, California 94133. The names
of the managing members and members of Blum GP IV, their addresses,
citizenship and principal occupations are as follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
-------------------- ----------------------- --------- -------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
CUSIP NO. 29481V108 SCHEDULE 13D Page 11 of 15
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
-------------------- ----------------------- --------- -------------------
Nils Colin Lind 909 Montgomery St. USA and Managing Partner,
Managing Member Suite 400 Norway Blum LP
San Francisco, CA 94133
John H. Park 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Gregory L. Jackson 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Jane J. Su 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
David H.S. Chung 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
Nadine F. Terman 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
Gregory D. Hitchan 909 Montgomery St. USA Partner, Chief
Managing Member Suite 400 Operating Officer,
San Francisco, CA 94133 General Counsel and
Secretary, Blum LP
Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief
Member Suite 400 Financial Officer,
San Francisco, CA 94133 Blum LP
To the best knowledge of the Reporting Persons, none of the entities or
persons identified in this Item 2 has, during the past five years, been
convicted of any criminal proceeding (excluding traffic violations or similar
misdemeanors), nor 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.
CUSIP NO. 29481V108 SCHEDULE 13D Page 12 of 15
Item 3. Source and Amount of Funds or Other Considerations
------------------------------------------------------------
Item 3 is hereby amended and restated in its entirety with the following:
The source of funds for the purchases of securities was the working capital
of Blum LP's limited partnerships and investment advisory clients, the
partnership for which Blum GP II LP serves as the sole general partner, the
partnership for which Blum GP III LP serves as the sole general partner, the
partnership for which Blum GP IV LP serves as the sole general partner and
the partnerships for which Saddlepoint GP serves as the general partner.
Item 4. Purpose of Transaction
-------------------------------
There have been no changes to Item 3 since the Schedule 13D Amendment
filed on May 6, 2005.
Item 5. Interest in Securities of the Issuer
---------------------------------------------
(a), (b) According to the Issuer's Form 10-Q filed with the Securities and
Exchange Commission on August 7, 2008, there were 50,842,124 shares of
Common Stock issued and outstanding as of July 25, 2008. Based on such
information, the Reporting Persons report beneficial ownership of the
following shares of Common Stock: (i) 4,271,951 shares of Common Stock held by
Blum L.P. and RCBA Inc. on behalf of the limited partnerships for which Blum
L.P. serves as the general partner, which represents 8.4% of the outstanding
shares of the Common Stock; (ii) 1,672,900 shares of the Common Stock held by
Blum GP II on behalf of the limited partnership for which it serves as the
general partner and on behalf of the limited partnership for which it serves
as the managing limited partner, which represents 3.3% of the outstanding
shares of the Common Stock; (iii) 1,162,518 shares of the Common Stock held by
Blum GP III which serves as general partner of Blum GP III LP which, in turn,
serves as the general partner of Blum Strategic III, which represents 2.3% of
the outstanding shares of the Common Stock; (iv) 573,986 shares of the Common
Stock held by Blum GP IV which serves as general partner of Blum GP IV LP
which, in turn, serves as the general partner of Blum Strategic IV, which
represents 1.1% of the outstanding shares of the Common Stock; (v) 26,900
shares of the Common Stock held by Saddlepoint GP on behalf of a partnership
for which it serves as the general partner, which represents 0.1% of the
outstanding shares of the Common Stock; and (vi) 177,700 shares of the Common
Stock that are legally owned by The Nuclear Decommissioning Trust of Dominion
Nuclear Connecticut, Inc. ("Dominion Connecticut"), which represents 0.3% of
the outstanding shares of the Common Stock and 177,700 shares of the
Common Stock that are legally owned by Virginia Electric and Power Company
Qualified Nuclear Decommissioning Trust ("Virginia Electric"), which
represents 0.3% of the outstanding shares of the Common Stock, (collectively,
the "Investment Advisory Clients"), with respect to which Blum L.P. has voting
and investment power. Each Investment Advisory Client has entered into an
investment management agreement with Blum L.P., but neither Investment
Advisory Client has any contract, arrangement or understanding with the other
Investment Advisory Client, or any other Reporting Person, with respect to the
acquisition, ownership, disposition or voting of any shares of the Common
Stock. Each Investment Advisory Client disclaims membership in a group with
any Reporting Person or with the other Investment Advisory Client, and each
CUSIP NO. 29481V108 SCHEDULE 13D Page 13 of 15
disclaims beneficial ownership of any shares beneficially owned by the
Reporting Persons other than for their own account.
Voting and investment power concerning the above shares are held solely by
Blum L.P., Blum GP II, Blum GP III and Blum GP IV. The Reporting Persons
therefore may be deemed to be members in a group, in which case the group
would be deemed to have beneficial ownership of an aggregate of 8,063,655
shares of the Common Stock, which is 15.9% of the outstanding Common Stock.
As the sole general partner of Blum L.P., RCBA Inc. is deemed the beneficial
owner of the securities over which Blum L.P. has voting and investment power.
The filing of this Schedule shall not be construed as an admission that any of
the officers, managing members and members of Blum L.P., Blum GP II, Blum GP
III LP, Blum GP III, Blum GP IV LP and Blum GP IV, is, for any purpose, the
beneficial owner of any of the securities that are beneficially owned by Blum
L.P., Blum GP II, Blum GP III LP, Blum GP III, Blum GP IV LP or Blum GP IV.
c) During the last 60 days, the Reporting Persons have purchased the following
shares of Common Stock in the open market:
Entity Trade Date Shares Price/Share
------- ---------- -------- -----------
Investment partnerships for 08-12-2008 6,500 12.2427
which Blum LP serves as the 08-13-2008 2,400 12.4200
general partner. 08-14-2008 2,200 12.4418
08-20-2008 1,300 12.5089
08-21-2008 600 12.5000
08-21-2008 2,400 12.5081
Entity Trade Date Shares Price/Share
------- ---------- -------- -----------
For Blum Strategic III for 08-12-2008 17,200 12.2427
which Blum GP III LP serves 08-13-2008 6,500 12.4200
as the general partner and 08-14-2008 6,000 12.4418
for Blum GP III which serves 08-20-2008 3,400 12.5089
as the general partner for 08-21-2008 1,600 12.5000
Blum GP III LP. 08-21-2008 6,500 12.5081
Entity Trade Date Shares Price/Share
------- ---------- -------- -----------
For Blum Strategic IV for 08-12-2008 239,500 12.2427
which Blum GP IV LP serves 08-13-2008 90,400 12.4200
as the general partner and 08-14-2008 83,200 12.4418
for Blum GP IV which serves 08-20-2008 48,086 12.5089
as the general partner for 08-21-2008 22,300 12.5000
Blum GP IV LP. 08-21-2008 90,500 12.5081
CUSIP NO. 29481V108 SCHEDULE 13D Page 14 of 15
Entity Trade Date Shares Price/Share
------ ---------- ------- ----------
The partnership for which 08-12-2008 1,800 12.2427
Saddlepoint GP serves as 08-13-2008 700 12.4200
general partner. 08-14-2008 600 12.4418
08-20-2008 400 12.5089
08-21-2008 200 12.5000
08-21-2008 600 12.5081
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
----------------------------------------------------------------------
There have been no changes to Item 6 since the Schedule 13D Amendment
filed on August 22, 2005.
Item 7. Material to be Filed as Exhibits
-----------------------------------------
Exhibit A - Joint Filing Undertaking
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 15 of 15
SIGNATURES
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: August 25, 2008
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Partner, Chief Operating Officer, Partner, Chief Operating Officer,
General Counsel and Secretary General Counsel and Secretary
BLUM STRATEGIC GP II, L.L.C. BLUM STRATEGIC GP III, L.L.C.
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Managing Member Managing Member
BLUM STRATEGIC GP III, L.P. SADDLEPOINT PARTNERS GP, L.L.C.
By: Blum Strategic GP III, L.L.C. By: Blum Capital Partners, L.P.
its General Partner its Managing Member
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Managing Member Partner, Chief Operating Officer,
General Counsel and Secretary
BLUM STRATEGIC GP IV, L.P. BLUM STRATEGIC GP IV, L.L.C.
By: Blum Strategic GP IV, L.L.C.
its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Managing Member Partner, Chief Operating Officer,
General Counsel and Secretary
CUSIP NO. 29481V108 SCHEDULE 13D Page 1 of 1
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to this Schedule 13D to evidence the agreement of the
below-named parties, in accordance with the rules promulgated pursuant to the
Securities Exchange Act of 1934, to file this Schedule jointly on behalf of
each such party.
Dated: August 25, 2008
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Partner, Chief Operating Officer, Partner, Chief Operating Officer,
General Counsel and Secretary General Counsel and Secretary
BLUM STRATEGIC GP II, L.L.C. BLUM STRATEGIC GP III, L.L.C.
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Managing Member Managing Member
BLUM STRATEGIC GP III, L.P. SADDLEPOINT PARTNERS GP, L.L.C.
By: Blum Strategic GP III, L.L.C. By: Blum Capital Partners, L.P.
its General Partner its Managing Member
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Managing Member Partner, Chief Operating Officer,
General Counsel and Secretary
BLUM STRATEGIC GP IV, L.P. BLUM STRATEGIC GP IV, L.L.C.
By: Blum Strategic GP IV, L.L.C.
its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Managing Member Partner, Chief Operating Officer,
General Counsel and Secretary