Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.19.1
Acquisitions (Tables)
9 Months Ended
Mar. 31, 2019
Business Acquisition [Line Items]  
Schedule of Allocation of Purchase Price Consideration

These unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the Company would have been if the acquisitions had occurred on the date assumed, nor are they indicative of future results of operations.

    For the nine months ended
March 31,
(in thousands)   2019
(Unaudited)
  2018
(Unaudited)
Revenues   $ 187,270     $ 154,046  
Net income     3,521       5,324  
SEI Technical Services [Member]  
Business Acquisition [Line Items]  
Schedule of Purchase Price

The computation of the purchase price consideration and the preliminary allocation of the consideration to the net assets acquired are presented in the following tables (in thousands):

 

Purchase price consideration:      
Cash consideration, net of cash acquired(a)   $ 3,709  
Stock consideration(b)     9,436  
Total purchase price consideration, net of cash acquired   $ 13,145  
         

(a)Includes $6,500,000 paid net of $2.8 million of cash acquired.

(b)Calculated as 209,678 shares of the Company’s common stock, multiplied by $45.00, the closing price of the Company’s common stock on the closing date.

Schedule of Allocation of Purchase Price Consideration
Allocation of purchase price consideration:      
Accounts receivable   $ 2,658  
Inventory     1,595  
Other assets     156  
Property, plant and equipment     424  
Intangible assets     3,100  
Accounts payable and accrued expenses     (740 )
Customer deposits     (398 )
Total identifiable net assets     6,795  
Goodwill     6,350  
Total   $ 13,145  
PAC Industries Inc. [Member]  
Business Acquisition [Line Items]  
Schedule of Purchase Price

The computation of the purchase price consideration and the preliminary allocation of the consideration to the net assets acquired are presented in the following tables (in thousands):

 

Purchase price consideration:      
Cash consideration, net of cash acquired(a)   $ 5,312  
Stock consideration(b)     6,653  
Total purchase price consideration, net of cash acquired   $ 11,965  

(a)Includes $6,400,000 paid net of $1.1 million of cash acquired.

(b)Calculated as 179,847 shares of the Company’s common stock, multiplied by $36.99, the closing price of the Company’s common stock on the closing date.

Schedule of Allocation of Purchase Price Consideration
Allocation of purchase price consideration:      
Accounts receivable   $ 2,231  
Inventory     2,136  
Other assets     158  
Property, plant and equipment     357  
Intangible assets     3,000  
Accounts payable and accrued expenses     (1,912 )
Customer deposits     (465 )
Assumption of debt     (200 )
Total identifiable net assets     5,305  
Goodwill     6,660  
Total   $ 11,965