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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 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 had been provisionally allocated as of May 19, 2015, and deemed final as of December 31, 2015, 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 |  |  |  | 506 |  |  |  | 14,977 |
Total assets acquired |  |  | 35,265 |  |  |  | 494 |  |  |  | 35,759 |
Liabilities assumed: |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  | 5,951 |  |  |  | — |  |  |  | 5,951 |
Accrued liabilities |  |  | 241 |  |  |  | 591 |  |  |  | 832 |
Total liabilities assumed |  |  | 6,192 |  |  |  | 591 |  |  |  | 6,783 |
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 consideration |  | $ | 28,976 |
Estimated Useful Lives of Identifiable Intangible Assets | The identifiable intangible assets as a result of the acquisition are 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 had been provisionally allocated at the Bi-Phase Date of Acquisition, and deemed final as of December 31, 2015, 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 consideration |  | $ | 4,425 |
Estimated Useful Lives of Identifiable Intangible Assets | The identifiable intangible assets as a result of the acquisition are 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 had been provisionally allocated at the Bucks Date of Acquisition, and deemed final as of December 31, 2015, 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 asset as a result of the acquisition is amortized over its respective estimated useful life as follows:
|  | Asset amount |  |  | Estimated life |
Customer relationships |  | $ | 1,380 |  |  |  | 10 years |
Professional Power Products, Inc. [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 allocated to the assets acquired and liabilities assumed based on their estimated fair values was as follows:
|  | April 1, 2014 (As initially reported) |  |  | Measurement period adjustment |  |  | April 1, 2014 (As adjusted) |
Assets acquired: |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 1,277 |  |  | $ | — |  |  | $ | 1,277 |
Accounts receivable |  |  | 3,989 |  |  |  | — |  |  |  | 3,989 |
Inventories |  |  | 5,073 |  |  |  | (120 | ) |  |  | 4,953 |
Prepaid expenses and other current assets |  |  | 243 |  |  |  | — |  |  |  | 243 |
Property, plant & equipment |  |  | 2,596 |  |  |  | — |  |  |  | 2,596 |
Total tangible assets |  |  | 13,178 |  |  |  | (120 | ) |  |  | 13,058 |
Intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Intangible assets |  |  | 23,500 |  |  |  | — |  |  |  | 23,500 |
Goodwill |  |  | 22,372 |  |  |  | 1,174 |  |  |  | 23,546 |
Total assets acquired |  |  | 59,050 |  |  |  | 1,054 |  |  |  | 60,104 |
Liabilities assumed: |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  | 1,494 |  |  |  | — |  |  |  | 1,494 |
Accrued liabilities |  |  | 3,257 |  |  |  | 1,054 |  |  |  | 4,311 |
Total liabilities assumed |  |  | 4,751 |  |  |  | 1,054 |  |  |  | 5,805 |
Net assets acquired |  | $ | 54,299 |  |  | $ | — |  |  | $ | 54,299 |
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 Powertrain transaction had occurred on January 1, 2014 as follows:
|  | Year ended (unaudited) |
|  | December 31, 2015 |  |  | December 31, 2014 |
Net sales |  | $ | 402,718 |  |  | $ | 400,585 |
Net income |  |  | 14,868 |  |  | $ | 26,320 |
Earnings per share, basic |  | $ | 1.38 |  |  | $ | 2.46 |
Earnings per share, diluted |  | $ | 0.50 |  |  | $ | 1.81 |
The following supplemental unaudited pro forma information presents the financial results as if the 3PI transaction had occurred on January 1, 2013 as follows:
|  | Year ended (unaudited) |
|  | December 31, 2014 |  |  | December 31, 2013 |
Net sales |  | $ | 353,175 |  |  | $ | 278,117 |
Net (loss) income |  | $ | 23,671 |  |  | $ | (16,557 | )
(Loss) earnings per share, basic |  | $ | 2.21 |  |  | $ | (1.69 | )
(Loss) earnings per share, diluted |  | $ | 1.57 |  |  | $ | (1.69 | )

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