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Acquisitions (Tables)

9 Months Ended

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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