UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D/A

 

Under the Securities Exchange Act of 1934
Amendment No. 3

 

Target Hospitality Corp.

(Name of Issuer)

 

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

 

87615L 107

(CUSIP Number)

 

Eric L. Schiele, P.C.
David M. Klein, P.C.
Kirkland & Ellis LLP

601 Lexington Avenue
New York, New York 10022
(212) 446-4800

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

March 29, 2021

(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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §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).

 


 

1

Names of Reporting Persons

 

 

Manjit Dale

2

Check the Appropriate Box if a Member of a Group*

 

 

(a)

(b)

 o

 o

3

SEC Use Only

4

Source of Funds (See Instructions)

 

WC

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)                                   o

6

Citizenship or Place of Organization

 

United Kingdom

Number Of
Shares
Beneficially
Owned By
Each
Reporting
Person
With

7

Sole Voting Power

 

0

8

Shared Voting Power

 

64,788,220 

9

Sole Dispositive Power

 

0

10

Shared Dispositive Power

 

64,788,220 

11

Aggregate Amount Beneficially Owned by Each Reporting Person

 

64,788,220 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*                                                         o

13

Percent of Class Represented by Amount in Row (11)

 

63.2%

14

Type of Reporting Person*

 

IN

 

2


 

1

Names of Reporting Persons

 

 

Stephen Robertson

2

Check the Appropriate Box if a Member of a Group*

 

(a)

(b)

 o

 o

3

SEC Use Only

4

Source of Funds (See Instructions)

 

WC

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)                                   o

6

Citizenship or Place of Organization

 

United Kingdom

Number Of
Shares
Beneficially
Owned By
Each
Reporting
Person
With

7

Sole Voting Power

 

175,000

8

Shared Voting Power

 

64,788,220 

9

Sole Dispositive Power

 

175,000

10

Shared Dispositive Power

 

64,788,220 

11

Aggregate Amount Beneficially Owned by Each Reporting Person

 

64,963,220

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*                                                         o

13

Percent of Class Represented by Amount in Row (11)

 

63.3%

14

Type of Reporting Person*

 

IN

 

3


 

1

Names of Reporting Persons

 

 

TDR Capital LLP

2

Check the Appropriate Box if a Member of a Group*

 

(a)

(b)

 o

 o

3

SEC Use Only

4

Source of Funds (See Instructions)

 

WC

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)                                   o

6

Citizenship or Place of Organization

 

United Kingdom

Number Of
Shares
Beneficially
Owned By
Each
Reporting
Person
With

7

Sole Voting Power

 

0

8

Shared Voting Power

 

64,788,220 

9

Sole Dispositive Power

 

0

10

Shared Dispositive Power

 

64,788,220 

11

Aggregate Amount Beneficially Owned by Each Reporting Person

 

64,788,220

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*                                                         o

13

Percent of Class Represented by Amount in Row (11)

 

63.2%

14

Type of Reporting Person*

 

PN

 

4


 

1

Names of Reporting Persons

 

 

TDR Capital II Investments L.P.

2

Check the Appropriate Box if a Member of a Group*

 

(a)

(b)

 o

 o

3

SEC Use Only

4

Source of Funds (See Instructions)

 

WC

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)                                   o

6

Citizenship or Place of Organization

 

United Kingdom

Number Of
Shares
Beneficially
Owned By
Each
Reporting
Person
With

7

Sole Voting Power

 

0

8

Shared Voting Power

 

64,788,220 

9

Sole Dispositive Power

 

0

10

Shared Dispositive Power

 

64,788,220 

11

Aggregate Amount Beneficially Owned by Each Reporting Person

 

64,788,220

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*                                                         o

13

Percent of Class Represented by Amount in Row (11)

 

63.2%

14

Type of Reporting Person*

 

PN

 

5


 

1

Names of Reporting Persons

 

 

Arrow Holdings S.à r.l.

2

Check the Appropriate Box if a Member of a Group*

 

(a)

(b)

 o

 o

3

SEC Use Only

4

Source of Funds (See Instructions)

 

WC

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)                                   o

6

Citizenship or Place of Organization

 

Luxembourg

Number Of
Shares
Beneficially
Owned By
Each
Reporting
Person
With

7

Sole Voting Power

 

0

8

Shared Voting Power

 

49,159,355

9

Sole Dispositive Power

 

0

10

Shared Dispositive Power

 

49,159,355

11

Aggregate Amount Beneficially Owned by Each Reporting Person

 

49,159,355

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*                                                         o

13

Percent of Class Represented by Amount in Row (11)

 

47.9%

14

Type of Reporting Person*

 

OO (Luxembourg société à responsabilité limitée)

 

6


 

1

Names of Reporting Persons

 

 

Modulaire Holding S.à r.l. (fka Algeco Holding S.à r.l.)

2

Check the Appropriate Box if a Member of a Group*

 

(a)

(b)

 o

 o

3

SEC Use Only

4

Source of Funds (See Instructions)

 

WC

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)                                   o

6

Citizenship or Place of Organization

 

Luxembourg

Number Of
Shares
Beneficially
Owned By
Each
Reporting
Person
With

7

Sole Voting Power

 

0

8

Shared Voting Power

 

15,628,865

9

Sole Dispositive Power

 

0

10

Shared Dispositive Power

 

15,628,865

11

Aggregate Amount Beneficially Owned by Each Reporting Person

 

15,628,865

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*                                                         o

13

Percent of Class Represented by Amount in Row (11)

 

15.2%

14

Type of Reporting Person*

 

OO (Luxembourg société à responsabilité limitée)

 

7


 

1

Names of Reporting Persons

 

 

Algeco Limited Partnership SLP

2

Check the Appropriate Box if a Member of a Group*

 

(a)

(b)

 o

 o

3

SEC Use Only

4

Source of Funds (See Instructions)

 

WC

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)                                   o

6

Citizenship or Place of Organization

 

Luxembourg

Number Of
Shares
Beneficially
Owned By
Each
Reporting
Person
With

7

Sole Voting Power

 

0

8

Shared Voting Power

 

15,628,865

9

Sole Dispositive Power

 

0

10

Shared Dispositive Power

 

15,628,865

11

Aggregate Amount Beneficially Owned by Each Reporting Person

 

15,628,865

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*                                                         o

13

Percent of Class Represented by Amount in Row (11)

 

15.2%

14

Type of Reporting Person*

 

OO (Luxembourg société à responsabilité limitée)

 

8


 

1

Names of Reporting Persons

 

 

Algeco Global S.à r.l.

2

Check the Appropriate Box if a Member of a Group*

 

(a)

(b)

 o

 o

3

SEC Use Only

4

Source of Funds (See Instructions)

 

WC

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)                                   o

6

Citizenship or Place of Organization

 

Luxembourg

Number Of
Shares
Beneficially
Owned By
Each
Reporting
Person
With

7

Sole Voting Power

 

0

8

Shared Voting Power

 

15,628,865

9

Sole Dispositive Power

 

0

10

Shared Dispositive Power

 

15,628,865

11

Aggregate Amount Beneficially Owned by Each Reporting Person

 

15,628,865

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*                                                         o

13

Percent of Class Represented by Amount in Row (11)

 

15.2%

14

Type of Reporting Person*

 

OO (Luxembourg société à responsabilité limitée)

 

9


 

1

Names of Reporting Persons

 

 

Algeco Investments 1 S.à r.l.

2

Check the Appropriate Box if a Member of a Group*

 

(a)

(b)

 o

 o

3

SEC Use Only

4

Source of Funds (See Instructions)

 

WC

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)                                   o

6

Citizenship or Place of Organization

 

Luxembourg

Number Of
Shares
Beneficially
Owned By
Each
Reporting
Person
With

7

Sole Voting Power

 

0

8

Shared Voting Power

 

15,628,865

9

Sole Dispositive Power

 

0

10

Shared Dispositive Power

 

15,628,865

11

Aggregate Amount Beneficially Owned by Each Reporting Person

 

15,628,865

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*                                                         o

13

Percent of Class Represented by Amount in Row (11)

 

15.2%

14

Type of Reporting Person*

 

OO (Luxembourg société à responsabilité limitée)

 

10


 

1

Names of Reporting Persons

 

 

Algeco Investments 2 S.à r.l.

2

Check the Appropriate Box if a Member of a Group*

 

(a)

(b)

 o

 o

3

SEC Use Only

4

Source of Funds (See Instructions)

 

WC

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)                                   o

6

Citizenship or Place of Organization

 

Luxembourg

Number Of
Shares
Beneficially
Owned By
Each
Reporting
Person
With

7

Sole Voting Power

 

0

8

Shared Voting Power

 

15,628,865

9

Sole Dispositive Power

 

0

10

Shared Dispositive Power

 

15,628,865

11

Aggregate Amount Beneficially Owned by Each Reporting Person

 

15,628,865

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*                                                         o

13

Percent of Class Represented by Amount in Row (11)

 

15.2%

14

Type of Reporting Person*

 

OO (Luxembourg société à responsabilité limitée)

 

11


 

1

Names of Reporting Persons

 

 

Algeco Investments 3 S.à r.l.

2

Check the Appropriate Box if a Member of a Group*

 

(a)

(b)

 o

 o

3

SEC Use Only

4

Source of Funds (See Instructions)

 

WC

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)                                   o

6

Citizenship or Place of Organization

 

Luxembourg

Number Of
Shares
Beneficially
Owned By
Each
Reporting
Person
With

7

Sole Voting Power

 

0

8

Shared Voting Power

 

15,628,865

9

Sole Dispositive Power

 

0

10

Shared Dispositive Power

 

15,628,865

11

Aggregate Amount Beneficially Owned by Each Reporting Person

 

15,628,865

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*                                                         o

13

Percent of Class Represented by Amount in Row (11)

 

15.2%

14

Type of Reporting Person*

 

OO (Luxembourg société à responsabilité limitée)

 

12


 

1

Names of Reporting Persons

 

 

Modulaire Investments B.V. (fka Algeco Investments B.V.)

2

Check the Appropriate Box if a Member of a Group*

 

(a)

(b)

 o

 o

3

SEC Use Only

4

Source of Funds (See Instructions)

 

WC

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)                                   o

6

Citizenship or Place of Organization

 

Netherlands

Number Of
Shares
Beneficially
Owned By
Each
Reporting
Person
With

7

Sole Voting Power

 

0

8

Shared Voting Power

 

15,628,865

9

Sole Dispositive Power

 

0

10

Shared Dispositive Power

 

15,628,865

11

Aggregate Amount Beneficially Owned by Each Reporting Person

 

15,628,865

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*                                                         o

13

Percent of Class Represented by Amount in Row (11)

 

15.2%

14

Type of Reporting Person*

 

OO (Netherlands besloten vennootschap)

 

13


 

 

Explanatory Note

 

This Amendment No. 3 (this “Amendment”) amends and supplements the Schedule 13D previously filed with the U.S. Securities and Exchange Commission (the “SEC”) by the Reporting Persons on November 5, 2020 (the “Existing Schedule 13D”) related to the Common Stock of the Issuer. Information set forth in response to any item of the Existing Schedule 13D, as amended and supplemented by this Amendment, shall be deemed to be responsive to all other items hereof to which such information is relevant.

 

Except as set forth herein, the Existing Schedule 13D is unmodified. Capitalized terms used but not defined herein have the meanings given to such terms in the Existing Schedule 13D.

 

Item 4.   Purpose of Transaction.

 

Item 4 of the Existing Schedule 13D is hereby amended and supplemented by adding the following information at the end of such item:

 

On March 29, 2021, Arrow Holdings withdrew its previously announced non-binding proposal to acquire all of the outstanding shares of Common Stock of the Issuer that are not owned by the Reporting Persons for cash consideration of $1.50 per share. Arrow Holdings may in the future consider other transactions involving the Issuer.

 

14


 

SIGNATURE

 

After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this Schedule 13D/A is true, complete and correct.

 

Dated: March 30, 2021

 

TDR CAPITAL LLP

 

By:

/s/ Blair Thompson

 

 

Name: Blair Thompson

 

 

Title: Manager

 

 

 

 

TDR CAPITAL II INVESTMENTS LP

 

 

 

 

By: TDR Capital LLP

 

 

 

 

By:

/s/ Blair Thompson

 

 

Name: Blair Thompson

 

 

Title: Partner

 

 

 

 

ARROW HOLDINGS S.À R.L.

 

 

 

 

By:

/s/ Evelina Ezerinskaite

 

 

Name: Evelina Ezerinskaite

 

 

Title: Manager

 

 

 

 

MODULAIRE HOLDING S.À R.L. (fka ALGECO HOLDING S.À R.L.)

 

 

 

By:

/s/ Evelina Ezerinskaite

 

 

Name: Evelina Ezerinskaite

 

 

Title: Manager

 

 

 

 

ALGECO LIMITED PARTNERSHIP SLP

 

 

 

 

By:

Algeco G.P. S.a r.l.

 

 

 

 

By:

/s/ Evelina Ezerinskaite

 

 

Name: Evelina Ezerinskaite

 

 

Title: Gerant

 

 

 

 

ALGECO GLOBAL S.À R.L.

 

 

 

 

By:

/s/ Evelina Ezerinskaite

 

 

Name: Evelina Ezerinskaite

 

 

Title: Manager

 

 

 

 

ALGECO INVESTMENTS 1 S.À R.L. (LUX)

 

 

 

 

By:

/s/ Evelina Ezerinskaite

 

 

Name: Evelina Ezerinskaite

 

 

Title: Manager

 

 

 

 

ALGECO INVESTMENTS 2 S.À R.L. (LUX)

 

 

 

 

By:

/s/ Evelina Ezerinskaite

 

 

Name: Evelina Ezerinskaite

 

 

Title: Manager

 

 

15


 

ALGECO INVESTMENTS 3 S.À R.L. (LUX)

 

 

 

 

By:

/s/ Evelina Ezerinskaite

 

 

Name: Evelina Ezerinskaite

 

 

Title: Manager

 

 

 

 

MODULAIRE INVESTMENTS B.V. (fka ALGECO INVESTMENTS B.V.)

 

 

 

 

By:

/s/ Diarmuid Cummins

 

 

Name: Diarmuid Cummins

 

 

Title: Director

 

 

 

 

By:

/s/ Dennis Cornelis Kulk

 

 

Name: Dennis Cornelis Kulk

 

 

Title: Director

 

 

 

 

STEPHEN ROBERTSON

 

 

 

 

By:

/s/ Stephen Robertson

 

 

Stephen Robertson

 

 

 

 

MANJIT DALE

 

 

 

By:

/s/ Manjit Dale

 

 

Manjit Dale

 

 

16


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