Douglas Dynamics, Inc.

(Name of Issuer)

Common Stock, $.01 par value

(Title of Class of Securities)

25960R105

(CUSIP Number)

December 31, 2016

(Date of Event which Requires Filing of this Statement)

CUSIP No.

 

Page 2 of 5 Pages

25960R105

 

 

1

NAMES OF REPORTING PERSONS

 

 

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

 

Mawer Investment Management Ltd.

 

 

 

 

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)☐

(b)☐

 

 

3

SEC USE ONLY

 

 

 

 

 

 

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

 

Canada

 

 

 

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

5

SOLE VOTING POWER

 

 

1,209,261

 

 

 

 

6

SHARED VOTING POWER

 

 

0

 

 

 

 

7

SOLE DISPOSITIVE POWER

 

 

1,209,261

 

 

 

 

8

SHARED DISPOSITIVE POWER

 

 

0

 

 

 

 

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 

1,209,261

 

 

 

 

10

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

 

☐

 

 

 

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

 

5.4%

 

 

 

 

12

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

 

Investment Advisor

 

 

 

 

CUSIP No.

Page 3 of 5 Pages

25960R105

Item 1.

(a)

Name of Issuer:

 

Douglas Dynamics, Inc.

(b)

Address of Issuer’s Principal Executive Offices:

7777 North 73rd Street

Milwaukee, WI 53233

Item 2.

(a)

Name of Persons Filing:

 

Mawer Investment Management Ltd.

(b)

Address of Principal Business Office or, if none, Residence :

600, 517 – 10th Avenue SW

Calgary, Alberta, Canada T2R 0A8

(c)

Citizenship:

Canadian

 

(d)

Title of Class of Securities:

 

Common Stock, $.01 par value

(e)

CUSIP Number:

Item 3.

If this statement is filed pursuant to Sections 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a)

[   ]   Broker or dealer registered under Section 15 of the Act.

(b)

[   ]   Bank as defined in Section 3(a)(6) of the Act.

(c)

[   ]   Insurance company as defined in Section 3(a)(19) of the Act.

(d)

[   ]   Investment company registered under Section 8 of the Investment

        Company Act of 1940.

(e)

[X]  An investment adviser in accordance with Section

        240.13d-1(b)(1)(ii)(E).

(f)

[   ]  An employee benefit plan or endowment fund in accordance with

        Section 240.13d-1(b)(1)(ii)(F).

(g)

[   ]   A parent holding company or control person in accordance with

         Section 240.13d-1(b)(1)(ii)(G).

(h)

[   ]   A savings associations as defined in Section 3(b) of the Federal

         Deposit Insurance Act.

(i)

[   ]   A church plan that is excluded from the definition of an investment

         company under Section 3(c)(14) of the Investment Company Act

         of 1940.

CUSIP No.

Page 4 of 5 Pages

25960R105

(j)

[   ]   A non-U.S. institution in accordance with Section 240.13d-1(b)(1) (ii)(J).

(k)

[   ]   Group, in accordance with Section 240.13d-1(b)(1)(ii)(K).

If filing as a non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J), please specify the type of institution:        _____________________________________________

Item 4.

Ownership.

(a)

Amount Beneficially Owned:

 

1,209,261

(b)

Percent of Class:

 

5.4%

(c)

Number of Shares as to which the person has:

(i)     sole power to vote or to direct the vote:

 

1,209,261

(ii)     shared power to vote or direct the vote:

 

0

(iii)    sole power to dispose or direct the disposition of:

 

1,209,261

(iv)    shared power to dispose or to direct the disposition of:

 

0

Item 5.

Ownership of Five Percent or Less of a Class:

 

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: [   ]

Item 6.

Ownership of More than Five Percent on Behalf of Another Person:

CUSIP No.

Page 5 of 5 Pages

25960R105

Item 7.

Identification and Classification of Subsidiaries Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Item 8.

Identification and Classification of Members of the Group.

Item 9.

Notice of Dissolution of Group.

Item 10.

Certification:

By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

Date:   February 6, 2017

By:

/s/ Michael Mezei

Name:

Michael Mezei

Title:

President