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Business Acquisitions and Divestitures
 6 Months Ended
Sep. 30, 2024
Business Acquisitions and Divestitures [Abstract]  
Business Combination Disclosure
3. Business Acquisitions and Divestitures
Acquisitions
During the first six months of fiscal 2025, we completed several tuck-in acquisitions, which continued to expand our product and service offerings in the Healthcare and AST segments. Total aggregate consideration was approximately $17,467.
On August 2, 2023, we purchased the surgical instrumentation, laparoscopic instrumentation and sterilization container assets from Becton, Dickinson and Company (NYSE: BDX) ("BD"). The acquired assets from BD were integrated into our Healthcare segment.
The purchase price of the BD acquisition was $539,758. The acquisition also qualified for a tax benefit related to tax deductible goodwill, with a present value of approximately $60,000. The purchase price of the acquisition was financed with borrowings from our Previous Revolving Credit Facility. For more information, refer to Note 7 titled, "Debt."
The table below summarizes the allocation of the purchase price to the net assets acquired from BD based on fair values at the acquisition date.
September 30, 2023
(As Previously Reported)
Adjustments (2)
Final
Inventory27,006 4,821 31,827 
Property, plant, and equipment6,755 1,109 7,864 
Lease right-of-use assets, net— 1,737 1,737 
Intangible assets (1)
303,598 (598)303,000 
Goodwill202,399 (5,332)197,067 
Total assets acquired539,758 1,737 541,495 
Lease obligations— 1,737 1,737 
Total liabilities assumed— 1,737 1,737 
Net assets acquired $539,758 $— $539,758 
(1) Includes estimated fair values of $238,000 for Customer relationships (13 years estimated useful life), $50,000 for Patents and technology (13 years estimated useful life), and $15,000 for Trademarks and trade names (15 years estimated useful life) as of the acquisition date.
(2) No additional adjustments made during fiscal 2025.
Acquisition and integration expenses totaled $3,205 and $5,459 for the three and six months ended September 30, 2024, respectively. Acquisition and integration expenses totaled $15,808 and $18,045 for the three and six months ended September 30, 2023, respectively. The decrease in acquisition and integration expenses for the three and six months ended September 30, 2024 is primarily due to charges related to the acquisition of assets from BD and a fair value adjustment related to a building held for sale from a previous acquisition during fiscal 2024. Acquisition and integration expenses are reported in the Selling, general and administrative expenses line of our Consolidated Statements of Income and include, but are not limited to, investment banker, advisory, legal and other professional fees, and certain employee-related expenses.
Divestitures
On April 11, 2024, the Company announced its plan to sell its Dental segment for total cash consideration of $787,500, subject to customary adjustments, and up to an additional $12,500 in contingent payment should the Dental business achieve certain revenue targets in fiscal 2025. The transaction was structured as an equity sale and closed on May 31, 2024. The disposal of the Dental segment met the criteria to be presented as a discontinued operation. For more information refer to Note 4 titled "Discontinued Operations."
On April 1, 2024, we completed the sale of the Controlled Environment Certification Services business. We recorded net proceeds of $41,894 and recognized a pre-tax gain on the sale of $19,151 in fiscal 2025. The business generated approximately $35,000 in revenues in fiscal 2024.