Quarterly report pursuant to Section 13 or 15(d)

Business Acquisitions (Tables)

v3.19.2
Business Acquisitions (Tables)
6 Months Ended
Jun. 29, 2019
Summary of Pro forma Financial Information Consequently, actual results will differ from the unaudited pro forma information presented below.

 

 

Three months ended

 

 

Six months ended

 

 

 

June 30, 2018

 

 

June 30, 2018

 

Net sales

 

$

136,168

 

 

$

274,426

 

Operating income

 

 

26,972

 

 

 

52,954

 

Net income

 

 

15,600

 

 

 

30,474

 

Basic and diluted net income per common share

 

 

0.49

 

 

 

0.97

 

 

Faster S.r.l [Member]  
Components of Fair Value of Total Purchase Consideration

The fair value of total purchase consideration consisted of the following:

 

Cash

 

$

532,408

 

Acquisition date fair value of contingent consideration

 

 

938

 

Total purchase consideration

 

 

533,346

 

Less: cash acquired

 

 

(5,265

)

Total purchase consideration, net of cash acquired

 

$

528,081

 

Schedule of Allocation of Total Purchase Price, Net of Cash Acquired

The purchase price was allocated to tangible and intangible assets acquired and liabilities assumed based on their estimated fair values. The allocation of the total purchase price, net of cash acquired, is as follows:

 

Accounts receivable

 

$

24,638

 

Inventories

 

 

34,835

 

Other current assets

 

 

6,661

 

Property, plant and equipment

 

 

20,242

 

Goodwill

 

 

288,449

 

Intangible assets

 

 

248,823

 

Other assets

 

 

7,040

 

Total assets acquired

 

 

630,688

 

Accounts payable

 

 

(18,668

)

Accrued expenses

 

 

(12,223

)

Incomes taxes payable

 

 

(4,862

)

Other current liabilities

 

 

(1,289

)

Other noncurrent liabilities

 

 

(65,565

)

Total liabilities assumed

 

 

(102,607

)

Fair value of net assets acquired

 

$

528,081

 

Schedule of Fair Value of Identified Intangible Assets and Useful Lives

The fair value of identified intangible assets and their respective useful lives are as follows:

 

 

Fair Value

 

 

Weighted-

Average

Amortization

Periods (Yrs)

 

Trade name

 

$

25,740

 

 

 

18

 

Technology

 

 

13,483

 

 

 

13

 

Customer relationships

 

 

202,245

 

 

 

26

 

Sales order backlog

 

 

7,355

 

 

 

0.4

 

Identified intangible assets

 

$

248,823

 

 

 

24