v3.25.4
Acquisitions
 3 Months Ended
Dec. 31, 2024
Asset Acquisition [Abstract]  
Acquisitions Acquisitions
APS Acquisition - On September 24, 2024, the Company entered into a share purchase agreement to acquire all the shares of Advanced Power Solutions (APS) for a contractual purchase price of EUR26.8, to be adjusted for closing net debt and working capital (APS Acquisition). On May 2, 2025, the Company completed the acquisition and the initial cash consideration transferred was EUR13.3 (USD15.2). During the fourth fiscal quarter of 2025, the working capital and net debt settlement was finalized and the Company paid an additional EUR1.3 (USD$1.5) for a total purchase price of $16.7. The acquisition provides
the Company with additional production capacity in Europe as well as an expanded customer base. The acquisition added Net sales of $64.6 and Earnings before income taxes of $4.7 during the three months ended December 31, 2025.

The APS Acquisition is being accounted for as a business combination using the acquisition method of accounting which requires assets acquired and liabilities assumed to be recognized at fair value as of the acquisition date. The following table outlines the preliminary purchase price allocation as of the date of acquisition:

Cash and cash equivalents$2.5 
Trade receivables0.2 
Inventories35.3 
Other current assets6.9 
Property, plant and equipment, net10.0 
Operating lease assets14.6 
Deferred tax asset0.7 
Other assets4.1 
Current portion of finance leases(0.3)
Notes payable(13.1)
Accounts payable(18.5)
Current operating lease liabilities(1.1)
Other current liabilities(12.3)
Long-term debt(0.9)
Operating lease liabilities(13.4)
Other liabilities(1.9)
Total identified net assets$12.8 
Goodwill3.9 
Net assets acquired$16.7 

The Company will continue to review the allocation of fair value to assets acquired and liabilities assumed for this acquisition, including income tax considerations. The goodwill acquired in this acquisition is attributable to the value of the workforce acquired and was allocated to the Batteries and Lights segment and is not deductible for tax purposes.

Pro Forma Financial Information- Pro forma results for the APS Acquisition was not considered material and, as such, is not included.
Acquisition and Integration Costs - The Company recorded $0.5 and $1.2 of acquisition and integration costs in Selling, general and administrative expense (SG&A) during the quarters ended December 31, 2025 and 2024, respectively, primarily related to legal fees and other costs associated with these acquisitions.