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Subsequent Events
12 Months Ended
Dec. 31, 2016
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
 
Dividend Declaration

At its meeting on January 30, 2017, the Company’s Board of Directors declared a cash dividend of $0.18 per share of our common stock, estimated to be $8.6 million in total. The record date for the dividend will be April 6, 2017, and it will be paid on April 27, 2017.

Acquisition of Gbo Fastening Systems AB


On January 3, 2017, the Company acquired Gbo Fastening Systems AB ("Gbo Fastening Systems"), a Sweden limited company, for approximately $10.2 million. Gbo Fastening Systems manufacturers and sells a complete line of CE-marked structural fasteners, unique fastener dimensioning software for wood construction applications currently sold mostly in northern and eastern Europe, which is expected to complement the Company's line of wood construction products in Europe.

Acquisition of CG Visions, Inc.

On January 9, 2017, the Company acquired CG Visions, Inc. ("CG Visions"), an Indiana company, for up to approximately $21.5 million, including an earn-out of $2.15 million, which is subject to meeting sales targets, and subject to specified holdback provisions and post-closing adjustment. CG Visions provides scalable technologies and services in building information modeling ("BIM") technologies, estimation tools and software solutions to a number of the top 100 mid-sized to large builders in the United States, which will complement and support the Company's sales in North America.

Both acquisition transactions will be recorded as business combinations in accordance with the business acquisition method. Because the transactions were so recent, the Company is in the process of evaluating the information required to determine the preliminary purchase allocation for each acquisition.