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Business Combination
 9 Months Ended
Jun. 30, 2015
Business Combinations [Abstract]  
Business Combination Disclosure

13. BUSINESS COMBINATION

On May 21, 2015, our wholly-owned subsidiary Magnetech Industrial Services, Inc. (“Magnetech”) acquired all of the common stock and certain related real estate of Southern Industrial Sales and Services, Inc. (“Southern Rewinding”), a Columbus, Georgia-based motor repair and related field services company, for total consideration of $3,937.  Of that amount, $3,137 was paid at closing.  Additional consideration of $800 is scheduled to be paid through the period ending November, 2016, subject to Magnetech’s right to hold back certain amounts in respect of seller obligations.  After closing, we provided the newly-acquired entity with $1,065 of working capital.  Southern Rewinding is included in our Infrastructure Solutions segment.

The Company accounted for the transaction under the acquisition method of accounting, which requires recording assets and liabilities at fair value (Level 3). The valuations derived from estimated fair value assessments and assumptions used by management are preliminary pending finalization of certain intangible asset valuations. While management believes that its preliminary estimates and assumptions underlying the valuations are reasonable, different estimates and assumptions could result in different values being assigned to individual assets acquired and liabilities assumed. This may result in adjustments to the preliminary amounts recorded. The preliminary valuation of the assets acquired and liabilities assumed as of May 21, 2015 is as follows:

Current assets$ 1,225
Property and equipment 911
Intangible assets (primarily customer relationships) 1,700
Non-tax-deductible goodwill 1,532
Current liabilities (1,431)
Net assets acquired$ 3,937

Pro forma revenues and results of operations for the acquisition have not been presented because the effects were not material to the consolidated financial statements.