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Acquisitions | 12 Months Ended
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Dec. 31, 2017
Acquisitions [Abstract] |
Acquisitions | 6 Acquisitions In September 2016, the Company acquired all of the outstanding stock of Rubotherm GmbH (“Rubotherm”), a manufacturer of gravimetric analysis systems, for approximately $6 million in cash, $5 million of which was paid at closing and an additional $1 million paid after closing to settle certain liabilities. Rubotherm develops and manufactures analytical test instruments for thermogravimetric and sorption measurements that are used in both industrial and academic research laboratories in disciplines that include chemistry, material science and engineering. The Rubotherm acquisition will help support and fu rther expand product offerings within TA’s thermal analysis business. In November 2015, the Company acquired all of the outstanding stock of MPE Orbur Group Limited and its sole operating subsidiary, Midland Precision Equipment Company, Ltd. (“MPE”), a manufacturer of MS instrumentation components, for $12 million, net of cash acquired. MPE is a highly skilled manufacturer and former Waters supplier that produces critical components that su pport the Company’s MS instrument systems. MPE was acquired to bring th is key supplier in house to reduce manufacturing costs in the future and to reduce risk to our supply chain. In the fourth quarter of 2015, the Company acquired certain assets of its Malaysian sales and service distributor for $2 million in cash. In May 2015, the Company acquire d the net assets of the ElectroForce® business of the Bose Corporation (“ElectroForce”), a manufacturer of testing systems, for $9 million in cash. ElectroForce’s core business is the manufacturing of dynamic mechanical testing systems used to characterize medical devices, biologic and engineered materials. The ElectroForce test instruments are based on unique motor designs that are quiet, energy-efficient, scalable and deliver precise performance over a wide range of force and frequency. ElectroForce was a cquired to expand TA’s product offering into new markets, while leveraging the technology, infrastructure and customer bases of the combined organizations. The principal factor that resulted in recognition of goodwill in these acquisitions is that the purchase price was based, in part, on cash flow projections assuming the integration of any acquired technology, distribution channels and products with the Company’s products, which is of considerably greater value than utilizing each of the acquired companies’ technology, customer access or products on a standalone basis. The goodwill also includes value assigned to assembled workforce, which cannot be recog nized as an in tangible asset. Specifically, the goodwill acquired with MPE consists of the value assigned to its workforce and the future incremental sales synergies anticipated. In each acquisition, the sellers provided the Company with customary represe ntations, warranties and indemnification, which would be settled in the future if and when a breach of the contractual representation or warran ty condition occurs. The pro forma effect of the ongoing operations for Waters Corporation, Rubotherm, MPE, the M alaysian sales and service distributor and ElectroForce, either individually or in the aggregate, as though these acquisitions had occurred at the beginning of the periods covered by this report was immaterial.

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