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Subsequent Event | 9 Months Ended
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Apr. 30, 2014
Subsequent Event |
16. | Subsequent Event
On May 1, 2014, the Company closed on a Stock Purchase Agreement (“KZ SPA”) for the acquisition of all the outstanding capital stock of towable recreational vehicle manufacturer K.Z., Inc. (“KZ”) for initial cash consideration of $53,405, subject to adjustments, which was funded entirely from the Company’s cash on hand. The purchase price adjustment will be based on a final determination of actual net working capital as of the closing date, and is expected to occur no later than early fiscal 2015. In connection with the KZ SPA, the $53,405 initial cash consideration was deposited in an escrow account on the April 16, 2014 KZ SPA signing date and was subsequently disbursed on the May 1, 2014 closing date. This $53,405 has been reflected as restricted cash in the Condensed Consolidated Balance Sheet at April 30, 2014. The Company purchased KZ to expand its towable recreational vehicle market share and supplement its existing towable RV product offerings and dealer base. The following table summarizes our preliminary approximation of the fair value of the net assets acquired:
Accounts receivable |  | $ | 13,500 |
Inventories |  |  | 14,500 |
Property, plant and equipment |  |  | 14,000 |
Other assets |  |  | 500 |
Goodwill and intangible assets |  |  | 23,905 |
Current liabilities |  |  | (13,000) |
Total preliminary approximation of net assets acquired |  | $ | 53,405 |
The determination of the fair values of the assets acquired and liabilities assumed, particularly the fair value of the individual intangible assets acquired, requires significant judgment. This fair value analysis and valuation has not yet been completed. We anticipate completing the fair value determinations in early fiscal 2015. The final fair value determinations may differ from the approximations reflected in the table above.

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- 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
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