XML 39 R28.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Subsequent Events | 6 Months Ended
--- | ---
Jun. 30, 2016
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events On July 1, 2016, the Company announced the acquisition of AWG Fittings GmbH (“AWG”), for cash consideration of approximately $51 million (€46 million). AWG, located in Ballendorf, Germany, produces a large array of engineered-life safety products for the safety and emergency response markets, including apparatus valves, monitors, nozzles, and hydraulic rescue tools. AWG has annual revenues of approximately $40 million and will operate within our Fire & Safety/Diversified Products segment. On July 28, 2016, the Company entered into a definitive agreement to acquire SFC-Koenig AG (“SFC”) for cash consideration based on an enterprise value of approximately $240 million (€217 million), subject to certain customary post-closing adjustments. SFC offers solutions for quick and reliable metal-to-metal sealing and flow control applications. With its wide product range of bore diameters and pressure ranges, SFC is a solution provider for the transportation, hydraulics, aerospace and medical industries. Located in Dietikon, Switzerland, SFC has annual revenues of approximately $63 million (€57 million) and will operate within our Health & Science Technologies segment. The transaction is expected to close in approximately 30 to 45 days, subject to regulatory approvals and customary closing conditions. On July 29, 2016, the Company entered into a definitive agreement to sell its shares of Melles Griot KK, based in Tamagawa, Japan, in an all cash transaction for approximately $19 million (¥2 billion) on a cash-free, debt-free basis, subject to certain customary post-closing adjustments. The results of Melles Griot KK were reported within the Health & Science Technologies segment and Melles Griot KK generated revenues of approximately $19 million in 2015. The transaction is expected to close by the end of the third quarter, subject to customary closing conditions. On July 29, 2016, the Company entered into a definitive agreement and completed the sale of its Hydra-Stop product line, based in Burr Ridge, IL, for cash consideration of $15 million, subject to customary post-closing adjustments, and contingent consideration of up to $2 million based on financial objectives for net sales in 2016 and 2017. The results of the product line were reported within the Fluid & Metering Technologies segment and the product line generated revenues of approximately $11 million in 2015.

X
- References No definition available. + Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration