GTCR Golder Rauner LLC, et al. – ‘SC 13D/A’ on 3/28/00 re: Synagro Technologies Inc

On:  Tuesday, 3/28/00   ·   As of:  3/29/00   ·   Accession #:  950131-0-2095   ·   File #:  5-46945

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Amendment to General Statement of Beneficial Ownership   —   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Amendment to General Statement of Beneficial          14     67K 
                          Ownership                                              
 2: EX-1        Joint Filing Agreement                                 2     10K 

SC 13D/A   —   Amendment to General Statement of Beneficial Ownership
Document Table of Contents

SC 13D/A
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UNITED STATES 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Schedule 13D

Under the Securities Exchange Act of 1934 
(Amendment No. 1)*  

Synagro Technologies, Inc.
------------------------------------------------------------------------------  
(Name of Issuer)

Common Stock
------------------------------------------------------------------------------  
(Title of Class of Securities)

871562203 
------------------------------------
(CUSIP Number)

David A. Donnini
GTCR Golder Rauner, L.L.C.
6100 Sears Tower
Chicago, Illinois 60606-6402
(312) 382-2200
------------------------------------------------------------------------------  
(Name, Address and Telephone Number of Person Authorized to Receive Notices and 
Communications) 

March 24, 2000  
------------------------------------  
(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 (S)(S)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 (S)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).                                                                         

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13D 
-----------------------                                  ---------------------  
CUSIP NO. 871562203                                     Page 2 OF 14 Pages  
-----------------------                                  ---------------------  

------------------------------------------------------------------------------  
NAME OF REPORTING PERSON                                            
1    I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)                

GTCR FUND VII, L.P.                                                 
------------------------------------------------------------------------------  
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 
2                                                                   (a) [_]   
                                                                 (b) [X]
------------------------------------------------------------------------------  
SEC USE ONLY                                                        
3                                                                             

------------------------------------------------------------------------------  
SOURCE OF FUNDS (SEE INSTRUCTIONS)                                  
4                                                                             
WC                                                                  
------------------------------------------------------------------------------  
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT   
TO ITEMS 2(D) or 2(E)                                               
5                                                                       [_]   
------------------------------------------------------------------------------  
CITIZENSHIP OR PLACE OF ORGANIZATION                                
6                                                                             
Delaware                                                              
------------------------------------------------------------------------------  
SOLE VOTING POWER           
7                                     
NUMBER OF                                                             
8,870,857 (See Item 5)      
    SHARES       -----------------------------------------------------------
SHARED VOTING POWER         
BENEFICIALLY      8                                                       

OWNED BY             0 (See Item 5)                                   
                 -----------------------------------------------------------
EACH               SOLE DISPOSITIVE POWER                         
9                                     
REPORTING                                                               
8,870,857 (See Item 5)      
    PERSON       -----------------------------------------------------------
SHARED DISPOSITIVE POWER    
WITH          10                                                  
0 (See Item 5)              
------------------------------------------------------------------------------  
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        
11                                                                              

8,870,857 (See Item 5)                                              
------------------------------------------------------------------------------  
 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12    (SEE INSTRUCTIONS)                                                        
                                                                     [_]
------------------------------------------------------------------------------  
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                  
13                                                                              
31.8% (See Item 5)                                                  
------------------------------------------------------------------------------  
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)                         
14                                                                              
PN                                                                  
------------------------------------------------------------------------------  

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13D 
-----------------------                                  ---------------------  
CUSIP NO.871562203                                      Page 3 of 14 Pages  
-----------------------                                  ---------------------  

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NAME OF REPORTING PERSON                                            
1    I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)                
GTCR Partners VII, L.P.                                             

------------------------------------------------------------------------------  
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 
2                                                                   (a) [_]   
                                                                 (b) [x]
------------------------------------------------------------------------------  
SEC USE ONLY                                                        
3                                                                             

------------------------------------------------------------------------------  
SOURCE OF FUNDS (SEE INSTRUCTIONS)                                  
4                                                                             
Not Applicable                                                      
------------------------------------------------------------------------------  
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT   
  TO ITEMS 2(D) or 2(E)                                              [_]
5                                                                             
------------------------------------------------------------------------------  
CITIZENSHIP OR PLACE OF ORGANIZATION                                
6                                                                             
Delaware                                                            
------------------------------------------------------------------------------  
SOLE VOTING POWER           
7                                     
NUMBER OF            0 (See Item 5)                                   

    SHARES       -----------------------------------------------------------
SHARED VOTING POWER         
BENEFICIALLY      8                                                       

OWNED BY             8,870,857 (See Item 5)                           
                 -----------------------------------------------------------
EACH               SOLE DISPOSITIVE POWER                         
9                                     
REPORTING                                                               
0 (See Item 5)              
    PERSON       -----------------------------------------------------------
SHARED DISPOSITIVE POWER    
WITH          10                                                  
8,870,857 (See Item 5)      
------------------------------------------------------------------------------  
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        
11                                                                              

8,870,857 (See Item 5)                                              
------------------------------------------------------------------------------  
 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12    (SEE INSTRUCTIONS)                                                        
                                                                     [_]
------------------------------------------------------------------------------  
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                  
13                                                                              
31.8% (See Item 5)                                                  
------------------------------------------------------------------------------  
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)                         
14                                                                              
PN                                                                  
------------------------------------------------------------------------------  

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13D           
-----------------------                                  ---------------------  
CUSIP NO.871562203                                      Page 4 of 14 Pages  
-----------------------                                  ---------------------  

------------------------------------------------------------------------------  
NAME OF REPORTING PERSON                                            
1    I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)                
GTCR Golder Rauner, L.L.C.                                          

------------------------------------------------------------------------------  
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 
2                                                                   (a) [_]   
                                                                 (b) [x]
------------------------------------------------------------------------------  
SEC USE ONLY                                                        
3                                                                             

------------------------------------------------------------------------------  
SOURCE OF FUNDS (SEE INSTRUCTIONS)                                  
4                                                                             
Not Applicable                                                      
------------------------------------------------------------------------------  
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT   
  TO ITEMS 2(D) or 2(E)                                              [_]
5                                                                             
------------------------------------------------------------------------------  
CITIZENSHIP OR PLACE OF ORGANIZATION                                
6                                                                             
Delaware                                                            
------------------------------------------------------------------------------  
SOLE VOTING POWER           
7                                     
NUMBER OF                                                             
0 (See Item 5)              
    SHARES       -----------------------------------------------------------
SHARED VOTING POWER         
BENEFICIALLY      8                                                       

OWNED BY             10,138,122 (See Item 5)                          
                 -----------------------------------------------------------
EACH               SOLE DISPOSITIVE POWER                         
9                                     
REPORTING                                                               
0 (See Item 5)              
    PERSON       -----------------------------------------------------------
SHARED DISPOSITIVE POWER    
WITH          10                                                  
10,138,122 (See Item 5)     
------------------------------------------------------------------------------  
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        
11                                                                              

10,138,122 (See Item 5)                                             
------------------------------------------------------------------------------  
 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12    (SEE INSTRUCTIONS)                                                        
                                                                     [_]
------------------------------------------------------------------------------  
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                  
13                                                                              
34.8% (See Item 5)                                                  
------------------------------------------------------------------------------  
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)                         
14                                                                              
00                                                                  
------------------------------------------------------------------------------  

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13D 
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CUSIP NO.871562203                                       Page 5 of 14 Pages 
-----------------------                                  ---------------------  

------------------------------------------------------------------------------  
NAME OF REPORTING PERSON                                            
1    I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)                
GTCR Capital Partners, L.P.                                         

------------------------------------------------------------------------------  
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 
2                                                                   (a) [_]   
                                                                 (b) [x]
------------------------------------------------------------------------------  
SEC USE ONLY                                                        
3                                                                             

------------------------------------------------------------------------------  
SOURCE OF FUNDS (SEE INSTRUCTIONS)                                  
4                                                                             
WC                                                                  
------------------------------------------------------------------------------  
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT   
  TO ITEMS 2(D) or 2(E)                                              [_]
5                                                                             
------------------------------------------------------------------------------  
CITIZENSHIP OR PLACE OF ORGANIZATION                                
6                                                                             
Delaware                                                            
------------------------------------------------------------------------------  
SOLE VOTING POWER           
7                                     
NUMBER OF            1,267,265 (See Item 5)                           

    SHARES       -----------------------------------------------------------
SHARED VOTING POWER         
BENEFICIALLY      8                                                       
0 (See Item 5)              
OWNED BY                                                              
                 -----------------------------------------------------------
EACH               SOLE DISPOSITIVE POWER                         
9                                     
REPORTING             1,267,265 (See Item 5)                            

    PERSON       -----------------------------------------------------------
SHARED DISPOSITIVE POWER    
WITH          10                                                  
0 (See Item 5)              
------------------------------------------------------------------------------  
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        
11                                                                              
1,267,265 (See Item 5)                                              

------------------------------------------------------------------------------  
 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12    (SEE INSTRUCTIONS)                                                        
                                                                     [_]
------------------------------------------------------------------------------  
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                  
13                                                                              
6.2% (See Item 5)                                                   
------------------------------------------------------------------------------  
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)                         
14                                                                              
PN                                                                  
------------------------------------------------------------------------------  

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-------------------                                           ------------------
CUSIP NO. 871562203                   13D                     PAGE 6 OF 14 PAGES
-------------------                                           ------------------

--------------------------------------------------------------------------------
NAME OF REPORTING PERSON                                              
1   I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)                 

GTCR Mezzanine Partners, L.P.                                         
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)   
 2                                                                       (a) [_]
                                                                         (b) [x]
--------------------------------------------------------------------------------
SEC USE ONLY                                                          
3                                                                             

--------------------------------------------------------------------------------
SOURCE OF FUNDS (SEE INSTRUCTIONS)                                    
4                                                                             
Not applicable                                                        
--------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT     
     TO ITEMS 2(D) or 2(E)                                                   [_]
5                                                                             
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION                                  
6                                                                             
Delaware                                                              
--------------------------------------------------------------------------------
SOLE VOTING POWER           
7                                     
NUMBER OF                                                             
0 (See Item 5)              
      SHARES       -------------------------------------------------------------
SHARED VOTING POWER         
BENEFICIALLY      8                                                       

OWNED BY             1,267,265 (See Item 5)                           
                   -------------------------------------------------------------
EACH               SOLE DISPOSITIVE POWER                         
9                                     
REPORTING                                                               
0 (See Item 5)              
      PERSON       -------------------------------------------------------------
SHARED DISPOSITIVE POWER    
WITH          10                                                  
1,267,265 (See Item 5)      
--------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON          
11                                                                              

1,267,265 (See Item 5)                                                
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 
12   (SEE INSTRUCTIONS)                                                         
                                                                             [_]
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                    
13                                                                              
6.2% (See Item 5)                                                     
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)                           
14                                                                              
PN                                                                    
--------------------------------------------------------------------------------

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13D 
-----------------------                                  ---------------------  
CUSIP NO. 871562203                                      PAGE 7 OF 14 PAGES 
-----------------------                                  ---------------------  

--------------------------------------------------------------------------------
NAME OF REPORTING PERSON                                              
1   I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)                 

GTCR Partners VI, L.P.                                                
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)   
 2                                                                       (a) [_]
                                                                         (b) [x]
--------------------------------------------------------------------------------
SEC USE ONLY                                                          
3                                                                             

--------------------------------------------------------------------------------
SOURCE OF FUNDS (SEE INSTRUCTIONS)                                    
4                                                                             
Not applicable                                                        
--------------------------------------------------------------------------------
    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(D) or 2(E)                                                          
 5                                                                           [_]
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION                                  
6                                                                             
Delaware                                                              
--------------------------------------------------------------------------------
SOLE VOTING POWER           
7                                     
NUMBER OF                                                             
0 (See Item 5)              
      SHARES       -------------------------------------------------------------
SHARED VOTING POWER         
BENEFICIALLY      8                                                       

OWNED BY             1,267,265 (See Item 5)                           
                   -------------------------------------------------------------
EACH               SOLE DISPOSITIVE POWER                         
9                                     
REPORTING                                                               
0 (See Item 5)              
      PERSON       -------------------------------------------------------------
SHARED DISPOSITIVE POWER    
WITH          10                                                  
1,267,265 (See Item 5)      
--------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON          
11                                                                              

1,267,265 (See Item 5)                                                
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 
12   (SEE INSTRUCTIONS)                                                         
                                                                             [_]
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                    
13                                                                              
6.2% (See Item 5)                                                     
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)                           
14                                                                              
PN                                                                    
--------------------------------------------------------------------------------

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Item 1.  Security and Issuer                                                    

This statement relates to the common stock, par value $.002 per share (the
"Common Stock") of Synagro Technologies, Inc. (the "Issuer") with its principal 
executive offices at 1800 Bering Drive, Suite 1000, Houston, TX 77057.          

Item 2.  Identify and Background                                                

   (a) This statement is filed jointly by each of the following persons pursuant
to Rule 13d-1(a) promulgated by the Securities and Exchange Commission (the     
"SEC") under Section 13 of the Securities Exchange Act of 1934, as amended (the 
"Act"): (i) GTCR Fund VII, L.P., a Delaware limited partnership (the "Fund      
VII"), by virtue of its direct beneficial ownership of Common Stock; (ii) GTCR  
Partners VII, L.P., a Delaware limited partnership ("GTCR Partners VII"), by    
virtue of it being the general partner of Fund VII; (iii) GTCR Capital Partners,
L.P., a Delaware limited partnership ("GTCR Capital"), by virtue of its direct  
beneficial ownership of Common Stock; (iv) GTCR Mezzanine Partners, L.P., a     
Delaware limited partnership ("GTCR Mezzanine Partners"), by virtue of it being 
the general partner of GTCR Capital; (v) GTCR Partners VI, L.P., a Delaware     
limited partnership ("GTCR Partners VI"), by virtue of it being the general     
partner of GTCR Mezzanine Partners; and (vi) GTCR Golder Rauner, L.L.C., a      
Delaware limited liability company ("GTCR LLC"), by virtue of it being the      
general partner of GTCR Partners VII and GTCR Partners VI. Fund VII, GTCR       
Partners VII, GTCR Capital, GTCR Mezzanine Partners, GTCR Partners VI and GTCR  
LLC are sometimes referred to herein individually as a "Reporting Person" and   
collectively as the "Reporting Persons."                                        

  Information with respect to each of the Reporting Persons is given solely by
such Reporting Person, and no Reporting Person assumes responsibility for the   
accuracy or completeness of information by another Reporting Person.            

 The Reporting Persons may be deemed to constitute a "group" for purposes of
Section 13(d)(3) of the Act.  The Reporting Persons expressly disclaim that they
have agreed to act as a group other than as described in this statement.        

   Certain information required by this Item 2 concerning the executive officers
and members of GTCR LLC is set forth on Schedule A attached hereto, which is    
incorporated herein by reference. GTCR LLC is managed by its members.           

(b)  The address of the principal business and principal office of each of
the Reporting Persons is 233 S. Wacker Drive, Suite 6100, Chicago, Illinois     
60606.                                                                          

(c)  The principal business of GTCR Capital, GTCR Mezzanine Partners, GTCR
Partners VI (as general partner of GTCR Mezzanine Partners) and GTCR LLC (as    
general partner of GTCR Partners VI) is to lend money on a subordinated basis to
business organizations, with the principal objective being interest income and  
the return of capital. The principal business of each of the other Reporting    
Persons, including GTCR LLC as general partner of GTCR Partners VII, is to make 
investments in common and preferred stock and other interests in business       
organizations, domestic or foreign, with the principal objective of appreciation
of capital invested.                                                            

(d)  During the past five years, none of the Reporting Persons nor, to the
best knowledge of such persons, any of the persons named in Schedule A to this  
statement, has been convicted in a criminal proceeding (excluding traffic       
violations or similar misdemeanors).                                            

(e)  During the past five years, none of the Reporting Persons nor, to the
best knowledge of such persons, any of the persons named in Schedule A to this  
statement, was a party to a civil proceeding of a judicial or administrative    
body of competent jurisdiction as a result of which such person 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.                             

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(f)  All individuals named in Schedule A to this statement are citizens of
the United States.                                                              

Item 3.  Source and Amount of Funds or Other Consideration                      

On January 27, 2000, Fund VII acquired 17,358.824 shares of the Company's 
Series C Convertible Preferred Stock (the "Series C Preferred") and 2,641.176   
shares of the Company's Series D Convertible Preferred Stock (the "Series D     
Preferred")  in connection with a Purchase Agreement among Fund VII and the     
Issuer, dated as of January 27, 2000 (the "Purchase Agreement").  On February 4,
2000, Fund VII purchased an additional 419.4 shares of Series C Preferred       
pursuant to the Purchase Agreement.  On March 24, 2000, Fund VII purchased an   
additional 225 shares of Series C Preferred pursuant to the Purchase Agreement. 
On March 27, 2000, Fund VII purchased an additional 1,260 shares of Series C    
Preferred pursuant to the Purchase Agreement. The purchase price for each of    
such shares was $1,000.00. The source of the funds used to acquire such shares  
was internal capital of Fund VII.                                               

   Each share of Series C Preferred is nonvoting and is convertible into a share
of Series D Preferred after the occurrence of certain events set forth in the   
certificate of designation establishing the Series C Preferred (the "Series C   
Preferred Certificate of Designation").  Each share of Series D Preferred is    
convertible into the number of shares of Common Stock obtained by dividing (1)  
the sum of (a) $1,000 and (b) any accrued and unpaid dividends by (2) $2.50 (the
"Conversion Price").  The Conversion Price is subject to adjustment pursuant to 
the terms of the Series D Preferred.                                            

On January 27, 2000, GTCR Capital and the Issuer entered into a senior    
subordinated loan agreement (the "Subordinated Loan Agreement") pursuant to     
which GTCR Capital loaned $20,000,000 to the Issuer.  In connection with the    
Subordinated Loan Agreement, the Issuer and GTCR Capital entered into a Warrant 
Agreement dated as of January 27, 2000 (the "Warrant Agreement") pursuant to    
which the Issuer issued GTCR Capital a warrant to purchase 2,857.143 shares of  
Series D Preferred, which GTCR Capital exercised on January 27, 2000.  On       
February 4, 2000, GTCR Capital loaned $419,400 to the Issuer pursuant to the    
Subordinated Loan Agreement and received a warrant to purchase 59.915 shares of 
Series C Preferred, which GTCR Capital exercised on February 4, 2000. On March  
24, 2000, GTCR Capital loaned $225,000 to the Issuer pursuant to the            
Subordinated Loan Agreement and received a warrant to purchase 32.143 shares of 
Series C Preferred, which GTCR Capital exercised on March 24, 2000. On March 27,
2000 GTCR Capital loaned $1,260,000 to the Issuer pursuant to the Subordinated  
Loan Agreement and received a warrant to purchase 180 shares of Series C        
Preferred, which GTCR Capital exercised on March 27, 2000.                      

 The Series C Preferred and Series D Preferred acquired by Fund VII and GTCR
Capital are collectively referred to herein as the "Shares".                    

A copy of the Purchase Agreement, the Subordinated Loan Agreement, the    
Warrant Agreement, the Series C Preferred Certificate of Designation and the    
certificate of designation establishing the Series D Preferred are filed as     
exhibits hereto and are incorporated herein by reference.  The summary of these 
agreements and documents and the agreements referred to elsewhere in this       
statement and incorporated herein by reference are not intended to be complete  
and are qualified in their entirety by reference to the detailed provisions of  
such agreements and documents.                                                  

Item 4.  Purpose of Transaction                                                 

   Fund VII and GTCR Capital hold the Shares for investment purposes.  Depending
on market conditions and other factors (including evaluation of the Issuer's    
businesses and prospects, availability of funds, alternative uses of funds and  
general economic conditions), Fund VII and GTCR Capital may from time to time   
acquire additional securities of the Issuer or dispose of all or a portion of   
their investment in the Issuer.  Any acquisition of additional securities by    
Fund VII or GTCR Capital will be pursuant to the terms of the Purchase Agreement
and the Subordinated Loan Agreement, respectively.                              

The holders of the Series D Preferred and future series of convertible    
preferred stock issued pursuant to the Purchase Agreement ("Future Convertible  
Preferred" and, together with the Series D Preferred, the "Preferred Stock")    
have the right to appoint members to the Issuer's Board of Directors (the       
"Board") based on their pro rata ownership of the Common Stock (assuming        
conversion of the Preferred Stock).  This right terminates once the holders of  
the Preferred Stock own a majority of the Common Stock (assuming conversion of  
the Preferred Stock), at which time the holders of the Preferred Stock vote as  
if they were holders of Common Stock.  The Subordinated Loan Agreement limits   
the size of the Board to                                                        

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six members, subject to increase by two directors who may be appointed in the   
event of certain defaults under the Subordinated Loan Agreement and under the   
Preferred Stock.                                                                

The Issuer, Fund VII and GTCR Capital have entered into a registration    
agreement, dated as of January 27, 2000 (the "Registration Agreement") pursuant 
to which Fund VII and GTCR Capital have the right in certain circumstances to   
require the Issuer to register their shares of Common Stock for resale under the
Securities Act.  Except in limited circumstances, the Issuer is obligated to pay
all expenses in connection with such registration.  A copy of the Registration  
Agreement is filed as an exhibit hereto and is incorporated herein by reference.

 Except as described in this statement, none of the Reporting Persons or, to
the best knowledge of such persons, the persons named in Schedule A to this     
statement, presently has any plans or proposals which relate to or would result 
in any of the transactions described in paragraphs (a) through (j) of Item 4 of 
Schedule 13D.                                                                   

Item 5.  Interest in Securities of the Issuer                                   

   (a)  Fund VII is the direct beneficial owner of 19,263.224 shares of Series C
Preferred and 2,641.176 shares of Series D Preferred, convertible in the        
aggregate (assuming conversion of Series C Preferred to Series D Preferred) into
8,870,857 shares of Common Stock, or approximately 31.8% of the Common Stock as 
of the date of this statement (assuming there are 19,035,189 shares of Common   
Stock outstanding). GTCR Capital is the direct beneficial owner of 2,857.143    
shares of Series D Preferred and 272.058 shares of Series C Preferred,          
convertible in the aggregate (assuming conversion of Series C Preferred to      
Series D Preferred) into approximately 1,267,265 shares of Common Stock, or     
approximately 6.2% of the Common Stock as of the date of this statement.        

By virtue of the relationship between Fund VII and GTCR Partners VII      
described in Item 2, GTCR Partners VII may be deemed to possess indirect        
beneficial ownership of the shares of Common Stock beneficially owned by Fund   
VII. By virtue of the relationship among GTCR Capital, GTCR Mezzanine Partners  
and GTCR Partners VI described in Item 2, GTCR Mezzanine Partners and GTCR      
Partners VI may be deemed to possess indirect beneficial ownership of the shares
of Common Stock beneficially owned by GTCR Capital.  Due to GTCR LLC's          
relationship with (a) Fund VII and GTCR Partners VII as described in Item 2 and 
(b) GTCR Capital, GTCR Mezzanine Partners and GTCR Partners VI as described in  
Item 2, GTCR LLC may be deemed to possess indirect beneficial ownership of the  
Common Stock owned by both Fund VII and GTCR Capital.                           

 The filing of this statement by GTCR Partners VII, GTCR Mezzanine Partners,
GTCR Partners VI and GTCR LLC shall not be construed as an admission that any of
such parties is, for the purposes of Section 13(d) or 13(g) of the Act, the     
beneficial owner of any securities covered by this statement.                   

(b)  Fund VII has the sole power to vote or direct the vote and the sole  
power to dispose of or direct the disposition of 8,870,857 shares of Common     
Stock, or approximately 31.8% of the Common Stock as of the date of this        
statement. GTCR Capital has the sole power to vote or direct the vote and the   
sole power to dispose of or direct the disposition of 1,267,265 shares of Common
Stock, or approximately 6.2% of the Common Stock as of the date of this         
statement.                                                                      

By virtue of the relationship between Fund VII and GTCR Partners VII      
described in Item 2, GTCR Partners VII may be deemed to indirectly share the    
power to vote or direct the vote and indirectly share the power to dispose of or
direct the disposition of the shares of Common Stock beneficially owned by Fund 
VII.  By virtue of the relationship among GTCR Capital, GTCR Mezzanine Partners 
and GTCR Partners VI described in Item 2, GTCR Mezzanine Partners and GTCR      
Partners VI may be deemed to indirectly share the power to vote or direct the   
vote and indirectly share the power to dispose of or direct the disposition of  
the shares of Common Stock beneficially owned by GTCR Capital.  Due to GTCR     
LLC's relationship with (a) Fund VII and GTCR Partners VII as described in Item 
2 and (b) GTCR Capital, GTCR Mezzanine Partners and GTCR Partners VI as         
described in Item 2, GTCR LLC may be deemed to indirectly share the power to    
vote or direct the vote and indirectly share the power to dispose of or direct  
the disposition of the shares of Common Stock beneficially owned by Fund VII and
GTCR Capital.                                                                   

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 The filing of this statement by GTCR Partners VII, GTCR Mezzanine Partners,
GTCR Partners VI and GTCR LLC shall not be construed as an admission that any of
such parties is, for the purposes of Section 13(d) or 13(g) of the Act, the     
beneficial owner of any securities covered by this statement.                   

  (c)   Except as otherwise set forth in this statement, none of the Reporting
Persons or, to the best knowledge of such persons, the persons named in Schedule
A to this statement, has effected any transactions in the Common Stock during   
the past 60 days.                                                               

  (d)   No person other than the Reporting Persons has the right to receive or
the power to direct the receipt of dividends from, or the proceeds from the sale
of, the Common Stock reported as being beneficially owned by such Reporting     
Persons.                                                                        

(e)   Not applicable.                                                     

Item 6.   Contracts, Arrangements, Understandings or Relationships with Respect 
to Securities of the Issuer.                                              

 As described in Item 4, the Reporting Persons are parties to a Registration
Agreement with respect to the Common Stock.  A copy of the Registration         
Agreement has been filed by the Issuer and is incorporated herein by reference. 

   Except as set forth in this statement, to the best knowledge of the Reporting
Persons, no contracts, arrangements, understandings or relationships (legal or  
otherwise) exist among the persons named in Item 2 or between such persons and  
any other person with respect to any securities of the Issuer.                  

Item 7.  Material to Be Filed as Exhibits                                       

Exhibit 1    Joint Filing Agreement among the Reporting Persons dated as of     
March 28, 2000.                                       

* Exhibit 2  Certificate of Designations, Preferences and Rights of Series C    
         Convertible Preferred Stock of Synagro Technologies, Inc. filed
   with the Delaware Secretary of State on January 26, 2000.

* Exhibit 3  Certificate of Designations, Preferences and Rights of Series D    
         Convertible Preferred Stock of Synagro Technologies, Inc. filed
   with the Delaware Secretary of State on January 26, 2000.

* Exhibit 4  Purchase Agreement dated as of January 27, 2000 by and between     
Synagro Technologies, Inc. and GTCR Fund VII, L.P.    

* Exhibit 5  Senior Subordinated Loan Agreement dated as of January 27, 2000 by 
            between Synagro Technologies, Inc. and GTCR Capital Partners, L.P.

* Exhibit 6  Warrant Agreement dated as of January 27, 2000 by and between      
    Synagro Technologies, Inc. and GTCR Capital Partners, L.P.

* Exhibit 7  Registration Rights Agreement, dated as of January 27, 2000 among  
          Synagro Technologies, Inc., GTCR Fund VII, L.P. and GTCR Capital
Partners, L.P.                                        

* Previously filed with the Statement on Schedule 13D on February 7, 2000.      

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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 28, 2000                                                            
GTCR FUND VII, L.P.             

                   By:  GTCR Partners VII, L.P., its General Partner

                      By:  GTCR Golder Rauner, L.L.C., its General Partner

By:      /s/ David A. Donnini 
                                 ---------------------------------------------
Name: David A. Donnini        
Its:  Principal               

GTCR PARTNERS VII, L.P.         
                      By:  GTCR Golder Rauner, L.L.C., its General Partner

By:      /s/ David A. Donnini 
                                 ---------------------------------------------
Name: David A. Donnini        
Its:  Principal               

GTCR GOLDER RAUNER, L.L.C.      

By:      /s/ David A. Donnini 
                                 ---------------------------------------------
Name: David A. Donnini        
Its:  Principal               

GTCR CAPITAL PARTNERS, L.P.     

                         By:  GTCR Mezzanine Partners, L.P., its General Partner

                  By:  GTCR Partners VI, L.P., its General Partner

                      By:  GTCR Golder Rauner, L.L.C., its General Partner

By:     /s/ David A. Donnini  
                                ----------------------------------------------
Name:  David A. Donnini       
Its:   Principal              

GTCR MEZZANINE PARTNERS, L.P.   
                  By:  GTCR Partners VI, L.P., its General Partner

                      By:  GTCR Golder Rauner, L.L.C., its General Partner

By:     /s/ David A. Donnini  
                                ----------------------------------------------
Name:  David A. Donnini       
Its:   Principal              

GTCR PARTNERS VI, L.P.          
                      By:  GTCR Golder Rauner, L.L.C., its General Partner

By:     /s/ David A. Donnini  
                                ----------------------------------------------
Name:  David A. Donnini       
Its:   Principal              

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EXHIBIT INDEX 

Exhibit No.                                                                     

Exhibit 1     Joint Filing Agreement among the Reporting Persons dated as of    
March 28, 2000.                                     

* Exhibit 2   Certificate of Designations, Preferences and Rights of Series C   
           Convertible Preferred Stock of Synagro Technologies, Inc. filed
     with the Delaware Secretary of State on January 26, 2000.

* Exhibit 3   Certificate of Designations, Preferences and Rights of Series D   
           Convertible Preferred Stock of Synagro Technologies, Inc. filed
     with the Delaware Secretary of State on January 26, 2000.

* Exhibit 4   Purchase Agreement dated as of January 27, 2000 by and between    
Synagro Technologies, Inc. and GTCR Fund VII, L.P.  

* Exhibit 5   Senior Subordinated Loan Agreement dated as of January 27, 2000 by
             and between Synagro Technologies, Inc. and GTCR Capital Partners,
L.P.                                                

* Exhibit 6   Warrant Agreement dated as of January 27, 2000 by and between     
      Synagro Technologies, Inc. and GTCR Capital Partners, L.P.

* Exhibit 7   Registration Rights Agreement, dated as of January 27, 2000 among 
            Synagro Technologies, Inc., GTCR Fund VII, L.P. and GTCR Capital
Partners, L.P.                                      

* Previously filed with the Statement on Schedule 13D on February 7, 2000.      

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SCHEDULE A

The following table sets forth the names and principal occupations of the 
executive officers and members of GTCR Golder Rauner, L.L.C.  Each such person  
is a citizen of the United States.  Unless otherwise specified, the business    
address of each person listed below is 233 South Wacker Drive, Suite 6100,      
Chicago, IL 60606.                                                              

                                                                [Download Table]

NAME                          PRINCIPAL OCCUPATION     
------------------------  -----------------------------
                                                       
Philip A. Canfield        Principal and Member         
David A. Donnini          Principal and Member         
Donald J. Edwards         Principal and Member         
Edgar D. Jannotta, Jr.    Principal and Member         
William C. Kessinger      Principal and Member         
Joseph P. Nolan           Principal and Member         
Bruce V. Rauner           Principal and Managing Member
Steven I. Ross            Chief Financial Officer      

Page 14 of 14 

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘SC 13D/A’ Filing		Date		First		Last			Other Filings
Filed as of:		3/29/00
Filed on:		3/28/00		11		13
		3/27/00		9
		3/24/00		1		9
		2/7/00		11		13			SC 13D
		2/4/00		9
		1/27/00		9		13
		1/26/00		11		13
									List all Filings