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Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2015
Powertrain Integration, LLC [Member] |
Summary of Estimates of Fair Value of the Assets Acquired and the Liabilities Assumed as of the Acquisition Date | The purchase price for this acquisition has been provisionally allocated to the assets acquired and liabilities assumed based on their estimated fair values as follows:
|  | May 19, 2015 (As initially reported) |  |  | Measurement period adjustment |  |  | May 19, 2015 (As adjusted) |
Assets acquired: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 4,942 |  |  | $ | (11 | ) |  | $ | 4,931 |
Inventories |  |  | 1,890 |  |  |  | — |  |  |  | 1,890 |
Prepaid expenses and other current assets |  |  | 23 |  |  |  | — |  |  |  | 23 |
Property, plant & equipment |  |  | 315 |  |  |  | (1 | ) |  |  | 314 |
Other non-current assets |  |  | 24 |  |  |  | — |  |  |  | 24 |
Total tangible assets |  |  | 7,194 |  |  |  | (12 | ) |  |  | 7,182 |
Intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Intangible assets |  |  | 13,600 |  |  |  | — |  |  |  | 13,600 |
Goodwill |  |  | 14,471 |  |  |  | 840 |  |  |  | 15,311 |
Total assets acquired |  |  | 35,265 |  |  |  | 828 |  |  |  | 36,093 |
Liabilities assumed: |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  | 5,951 |  |  |  |  |  |  |  | 5,951 |
Accrued liabilities |  |  | 241 |  |  |  | 925 |  |  |  | 1,166 |
Total liabilities assumed |  |  | 6,192 |  |  |  | 925 |  |  |  | 7,117 |
Net assets acquired |  | $ | 29,073 |  |  | $ | (97 | ) |  | $ | 28,976 |
Cash paid at Powertrain Date of Acquisition |  | $ | 20,873 |
Contingent consideration |  |  | 8,200 |
Working capital adjustment |  |  | (97 | )
Aggregate provisional consideration |  | $ | 28,976 |
Estimated Useful Lives of Identifiable Intangible Assets | The identifiable intangible assets as a result of the acquisition will be amortized over their respective estimated useful lives as follows:
|  | Asset amount |  |  | Estimated life
Backlog |  | $ | 600 |  |  | 3 months
Customer relationships |  |  | 13,000 |  |  | 12 years
Total identifiable intangible assets |  | $ | 13,600 |  |  |
Bi-Phase Technologies, LLC [Member] |
Summary of Estimates of Fair Value of the Assets Acquired and the Liabilities Assumed as of the Acquisition Date | The purchase price for this acquisition has been provisionally allocated to the assets acquired and liabilities assumed based on their estimated fair values as follows:
|  | May 1, 2015 (Bi-Phase Date of Acquisition) |
Assets acquired: |  |  |  |
Accounts receivable |  | $ | 212 |
Inventories |  |  | 2,103 |
Prepaid expenses |  |  | 4 |
Property, plant & equipment |  |  | 113 |
Other assets |  |  | 162 |
Total tangible assets |  |  | 2,594 |
Intangible assets: |  |  |  |
Intangible assets |  |  | 860 |
Goodwill |  |  | 1,217 |
Total assets acquired |  |  | 4,671 |
Liabilities assumed: |  |  |  |
Accounts payable |  |  | 199 |
Accrued liabilities |  |  | 47 |
Total liabilities assumed |  |  | 246 |
Net assets acquired |  | $ | 4,425 |
Initial cash paid at Bi-Phase Date of Acquisition |  | $ | 3,619 |
Contingent consideration |  |  | 540 |
Working capital adjustment |  |  | 266 |
Aggregate provisional consideration |  | $ | 4,425 |
Estimated Useful Lives of Identifiable Intangible Assets | The identifiable intangible assets as a result of the acquisition will be amortized over their respective estimated useful lives as follows:
|  | Asset amount |  |  | Estimated life
Developed technology |  | $ | 700 |  |  | 7 years
Customer relationships |  |  | 160 |  |  | 15 years
Total identifiable intangible assets |  | $ | 860 |  |  |
Buck's Acquisition Company, LLC [Member] |
Summary of Estimates of Fair Value of the Assets Acquired and the Liabilities Assumed as of the Acquisition Date | The purchase price for this acquisition has been provisionally allocated to the assets acquired and liabilities assumed based on their estimated fair values as follows:
|  | March 18, 2015 (Buck’s Date of Acquisition) |
Assets acquired: |  |  |  |
Inventories |  | $ | 6,598 |
Property, plant & equipment |  |  | 231 |
Total tangible assets |  |  | 6,829 |
Intangible assets: |  |  |  |
Intangible assets |  |  | 1,380 |
Goodwill |  |  | 1,526 |
Total assets acquired |  | $ | 9,735 |
Estimated Useful Lives of Identifiable Intangible Assets | The identifiable intangible assets as a result of the acquisition will be amortized over their respective estimated useful lives as follows:
|  | Asset amount |  |  | Estimated life
Customer relationships |  | $ | 1,380 |  |  | 10 years
Professional Power Products, Inc. [Member] |
Summary of Initial Consideration Paid for Acquisitions | The following table provides a summary of the initial consideration for 3PI:
Fair value of assets acquired |  | $ | 60,104 |
Less liabilities assumed |  |  | (5,805 | )
Net assets acquired |  |  | 54,299 |
Less value of shares of Company common stock expected to be issued at date of acquisition |  |  | (8,900 | )
Less cash acquired |  |  | (1,277 | )
Cash paid |  | $ | 44,122 |
Summary of Supplemental Pro Forma Information | The following supplemental pro forma information presents the financial results as if the transaction had occurred on January 1, 2014 as follows:
|  | Three months ended |  |  | Nine months ended |
|  | September 30, 2014 |  |  | September 30, 2015 |  |  | September 30, 2014 |
Net sales |  | $ | 93,972 |  |  | $ | 292,776 |  |  | $ | 249,265 |
Net income |  |  | 7,148 |  |  |  | 12,574 |  |  |  | 12,792 |
Earnings per share, basic |  | $ | 0.66 |  |  | $ | 1.16 |  |  | $ | 1.20 |
Earnings per share, diluted |  | $ | 0.56 |  |  | $ | 0.41 |  |  | $ | 1.04 |

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