XML 29 R18.htm IDEA: XBRL DOCUMENT v3.5.0.2
Subsequent Events
9 Months Ended
Oct. 02, 2016
Subsequent Events  
Subsequent Events

 

12.Subsequent Events

 

On November 1, 2016, the Company declared a quarterly dividend of $0.18 per share on each outstanding share of Class A common stock and Class B common stock payable on December 16, 2016 to stockholders of record at the close of business on December 2, 2016.

 

On November 2, 2016, the Company acquired 100% of the shares of PVI Riverside Holdings, Inc., the parent company of PVI Industries, LLC, for approximately $78 million. PVI Industries is a leading manufacturer of commercial stainless steel water heating equipment, which complement AERCO’s boiler products. The purchase price is subject to a final post-closing working capital adjustment.