UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 3)
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 11, 2005
--------------
(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(b)(3) or (4), check the
following box [ ].
*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 11
CUSIP NO. 29481V108 SCHEDULE 13D Page 2 of 11
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1. NAME OF REPORTING PERSON BLUM CAPITAL PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3205364
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS* See Item 3
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION California
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7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 8,847,490**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 8,847,490**
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,847,490**
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 17.6%**
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14. TYPE OF REPORTING PERSON PN, IA
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** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 29481V108 SCHEDULE 13D Page 3 of 11
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1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-2967812
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
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3. SEC USE ONLY
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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 8,847,490**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 8,847,490**
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,847,490**
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 17.6%**
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
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** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 29481V108 SCHEDULE 13D Page 4 of 11
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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]
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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 8,847,490**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 8,847,490**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,847,490**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 17.6%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
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** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 29481V108 SCHEDULE 13D Page 5 of 11
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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 8,847,490**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 8,847,490**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,847,490**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 17.6%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 29481V108 SCHEDULE 13D Page 6 of 11
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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 8,847,490**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 8,847,490**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,847,490**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 17.6%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
-----------------------------------------------------------------------------
** See Item 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 29481V108 SCHEDULE 13D Page 7 of 11
Item 1. Security and Issuer
----------------------------
This Amendment No. 3 amends the Statement on Schedule 13D (the "Schedule 13D")
filed with the Securities and Exchange Commission (the "Commission") on
May 6, 2005 by Blum Capital Partners, L.P., a California limited partnership
("Blum L.P."); 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") (collectively, the "Reporting Persons") and Richard
C. Blum. 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 III, L.L.C. ("Blum GP III") is a Delaware limited liability
company whose principal business is acting as the general partner of Blum
Strategic GP III, L.P. ("Blum GP III LP"), a Delaware limited partnership,
whose principal business is acting as the general partner of Blum Strategic
Partners III, L.P., a Delaware limited partnership ("Blum Strategic III")
whose principal office is 909 Montgomery Street, Suite 400, San Francisco,
California 94133.
The principal business office address of Blum GP III and Blum GP III LP is
909 Montgomery Street, Suite 400, San Francisco, California 94133. The names
of the managing members and members of Blum GP III, 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 L.P.
San Francisco, CA 94133
Nils Colin Lind 909 Montgomery St. Norway Managing Partner,
Managing Member Suite 400 Blum L.P.
San Francisco, CA 94133
John H. Park 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum L.P.
San Francisco, CA 94133
CUSIP NO. 29481V108 SCHEDULE 13D Page 8 of 11
Gregory L. Jackson 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum L.P.
San Francisco, CA 94133
Jeffrey A. Cozad 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum L.P.
San Francisco, CA 94133
John C. Walker 909 Montgomery St. USA Partner,
Member Suite 400 Blum L.P.
San Francisco, CA 94133
Jose S. Medeiros 909 Montgomery St. Brazil Partner,
Member Suite 400 Blum L.P.
San Francisco, CA 94133
Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief
Member Suite 400 Financial Officer,
San Francisco, CA 94133 Blum L.P.
Gregory D. Hitchan 909 Montgomery St. USA General Counsel
Member & Suite 400 & Secretary,
General Counsel San Francisco, CA 94133 Blum L.P.
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.
Item 5. Interest in Securities of the Issuer
---------------------------------------------
(a), (b) According to the Issuer's most recent Form 10-Q, there were 50,363,767
shares of Common Stock issued and outstanding as of July 29, 2005. Based on
such information, the Reporting Persons report beneficial ownership of the
following shares of Common Stock: (i) 5,870,872 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, or on behalf of an entity for which
Blum L.P. serves as investment advisor, which represents 11.7% 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) 948,318 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,
CUSIP NO. 29481V108 SCHEDULE 13D Page 9 of 11
which represents 1.9% of the outstanding shares of the Common Stock; and (iv)
177,700 shares of the Common Stock that are legally owned by The Nuclear
Decommissioning Trust of Dominion Nuclear Connecticut, Inc.
("Dominion Connecticut") and 177,700 shares of the Common Stock that are
legally owned by Virginia Electric and Power Company Qualified Nuclear
Decommissioning Trust ("Virginia Electric") (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 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 and Blum GP III. 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 8,847,490 shares of the Common
Stock, which is 17.6% 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 and Blum GP III, 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 or Blum GP III.
c) During the last 60 days, the Reporting Persons purchased the following
shares of Common Stock in the open market:
Entity Trade Date Shares Price/Share
------ ---------- ------- -----------
Investment partnerships for 08-05-05 17,500 14.5914
which Blum L.P. serves as the 08-05-05 86,200 14.9051
general partner and on behalf 08-08-05 71,300 14.9030
of an entity for which Blum L.P. 08-09-05 60,000 14.9548
serves as investment advisor. 08-10-05 10,000 14.9600
08-11-05 22,500 14.9532
08-11-05 34,000 14.9574
08-12-05 68,700 14.9467
08-15-05 19,300 14.9590
08-16-05 9,682 14.9595
CUSIP NO. 29481V108 SCHEDULE 13D Page 10 of 11
Entity Trade Date Shares Price/Share
------ --------- ------- ----------
For Blum Strategic III for 08-05-05 17,500 14.5914
which Blum GP III LP 08-05-05 86,300 14.9051
serves as the general partner 08-08-05 71,200 14.9030
and for Blum GP III which 08-09-05 60,000 14.9548
serves as the general 08-10-05 10,000 14.9600
partner for Blum GP III LP. 08-11-05 22,500 14.9532
08-11-05 34,125 14.9574
08-12-05 68,840 14.9467
08-15-05 19,339 14.9590
08-16-05 93,600 14.9595
08-17-05 300,000 14.9500
08-17-05 72,414 14.9592
08-18-05 75,000 14.8973
08-19-05 17,500 14.9550
(d) and (e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
---------------------------------------------------------------------------
None of the Reporting Persons or, to the best knowledge of the Reporting
Persons,the other persons named in Item 2, is a party to any contract,
arrangement, understanding or relationship with respect to any securities
of the Issuer, including but not limited to the transfer or voting of any
securities of the Issuer, finder's fees, joint ventures, loan or option
arrangements, puts or calls, guarantees of profits, division of profits
or loss, or the giving or withholding of proxies, except (i) as previously
disclosed, or (ii) as noted above, Blum L.P. has voting and investment power
of the shares held by it for the benefit of The Investment Advisory Clients.
Item 7. Material to be Filed as Exhibits
-----------------------------------------
Exhibit A Joint Filing Undertaking.
CUSIP NO. 29481V108 SCHEDULE 13D Page 11 of 11
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 22, 2005
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,
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,
Member and General Counsel Member and General Counsel
BLUM STRATEGIC PARTNERS III, L.P. BLUM STRATEGIC GP III, L.P.
By: Blum Strategic GP III, L.P., By: Blum Strategic GP III, L.L.C.
Its General Partner Its General Partner
By: Blum Strategic GP III, L.L.C.
Its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
---------------------------- ----------------------------
Gregory D. Hitchan, Gregory D. Hitchan,
Member and General Counsel Member and General Counsel
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 22, 2005
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,
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,
Member and General Counsel Member and General Counsel
BLUM STRATEGIC PARTNERS III, L.P. BLUM STRATEGIC GP III, L.P.
By: Blum Strategic GP III, L.P., By: Blum Strategic GP III, L.L.C.
Its General Partner Its General Partner
By: Blum Strategic GP III, L.L.C.
Its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
---------------------------- ----------------------------
Gregory D. Hitchan, Gregory D. Hitchan,
Member and General Counsel Member and General Counsel