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Business Segment Information
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
Business Segment Information

17. Business Segment Information

The Company’s operations are organized and reviewed by management along its product lines and presented in three reportable segments. The results of the segments are reviewed through to the “Income from operations” line on the Consolidated Statements of Income. The accounting policies of the segments are the same as those in the consolidated financial statements. Except for the information reported on a segment basis, the Company does not accumulate net sales information by product or service and therefore, the Company does not disclose net sales by product or service because to do so would be impractical. The Company’s reportable segments are however organized as groups of similar products and services.

Engineered Equipment Technology and Parts Group (“EET&P Group”)

Our EET&P Group, located in the United States as well as the Netherlands, Canada, Brazil, China, and India, is comprised of Effox-Flextor, Aarding, AVC, CECO Abatement, Adwest, CECO Filter, Busch International, FKI and Buell. Our services eliminate toxic emission fumes and volatile organic compounds from large-scale industrial processes. Global industries served include refining, petrochemical, traditional power, natural gas power, aluminum, steel, automotive, chemical, and the largest industrial facilities.

Met-Pro Group (“MP Group”)

Our MP Group is comprised of our recent acquisition of Met-Pro, a global provider of a wide range of products and services for industrial, commercial, municipal and residential markets. These include product recovery and pollution control technologies for purification of air and liquids; fluid handling technologies for corrosive, abrasive and high temperature liquids; and filtration and purification technologies, which include proprietary water treatment chemicals and filter products for air and liquid filtration. The MP Group includes Met-Pro’s three main business areas: Product Recovery/Pollution Control Technologies, Fluid Handling Technologies, and Filtration/Purification Technologies, each of which is comprised of a variety of business units and brands.

Contracting/Services Group (“C/S Group”)

Our C/S Group is comprised of the contracting/services operations of our Kirk & Blum divisions. We provide custom metal fabrication services at our Kirk & Blum Columbia, Tennessee and Louisville, Kentucky locations. These facilities are used to fabricate parts, subassemblies, and customized products for air pollution and non-air pollution applications from sheet, plate, and structurals.

Component Parts Group (“CP Group”)

Our CP Group markets component parts for industrial air systems to contractors, distributors and dealers throughout the United States of America.

 

     2013      2012  

Net Sales (less intra-, inter-segment sales)

      

Engineered Equipment Technology and Parts Group

      

United States

    $ 88,170       $ 75,824   

Netherlands

      25,588         —    

China

      7,763         4,905   

Canada

      3,557         7,611   

Brazil

      170        121   

India

      —          218   
  

 

 

     

 

 

  

Subtotal

      125,248         88,679   

Met-Pro Group

      30,526         —     

Contracting / Services Group

      19,500         25,527   

Component Parts Group

      21,908         20,771   

Corporate

      135         75   
  

 

 

     

 

 

  

Net sales

    $ 197,317       $ 135,052   
  

 

 

     

 

 

  

 

     2013     2012  

Income (Loss) from Operations

     

Engineered Equipment Technology and Parts Group (a)

    $ 18,652      $ 15,562   

Met-Pro (a)

      1,383        —    

Contracting / Services Group (a)

      2,008        3,461   

Component Parts Group (a)

      4,172        4,198   

Corporate (a) (b)

      (17,754 )      (6,474 ) 

Eliminations

      (1,473 )      (64 ) 
  

 

 

    

 

 

  

Income from operations

    $ 6,972      $ 16,683   
  

 

 

    

 

 

  

 

(a) The amounts presented above at the reportable business segment level include operating income (loss), as applicable. See following tables in this Note 17 under “Intra-segment and Inter-segment Revenues.”
(b) Includes corporate compensation, professional services, information technology, acquisition and integration expenses, and other general and administrative corporate expenses.

 

     December 31,  
     2013      2012  

Property and Equipment Additions

      

Engineered Equipment Technology and Parts Group

    $ 522       $ 113   

Met-Pro

      680         —    

Contracting / Services Group

      30         61   

Component Parts Group

      141         77   

Corporate

      4         22   
  

 

 

     

 

 

  

Property and equipment additions

    $ 1,377       $ 273   
  

 

 

     

 

 

  

 

     2013      2012  

Depreciation and Amortization

      

Engineered Equipment Technology and Parts Group

    $ 2,753       $ 623   

Met-Pro Group

      3,365         —    

Contracting / Services Group

      210         221   

Component Parts Group

      188         193   

Corporate

      131         213   
  

 

 

     

 

 

  

Depreciation and amortization

    $ 6,647       $ 1,250   
  

 

 

     

 

 

  

 

     December 31,  
     2013      2012  

Identifiable Assets

      

Engineered Equipment Technology and Parts Group

    $ 116,647       $ 60,516   

Met-Pro Group

      217,695         —    

Contracting / Services Group

      7,026         8,055   

Component Parts Group

      5,946         5,573   

Corporate (c)

      1,222         19,960   
  

 

 

     

 

 

  

Identifiable assets

    $ 348,536       $ 94,104   
  

 

 

     

 

 

  

 

(c) Includes primarily consists of cash, income tax related assets, and intercompany note receivable.

 

     December 31,  
     2013      2012  

Goodwill

      

Engineered Equipment Technology and Parts Group

    $ 27,336       $ 19,548   

Met-Pro Group

      104,884         —    
  

 

 

     

 

 

  

Identifiable assets (e)

    $ 132,220       $ 19,548   
  

 

 

     

 

 

  

Intra-segment and Inter-segment Revenues

The Company has multiple divisions that sell to each other within segments and between segments as indicated in the following tables:

 

            Year Ended December 31, 2013  
     total sales      less
intra-segment
sales		     less inter-segment sales      net sales to
outside
customers		  
          EET&P     MP     C/S     CP     Corp. (a)     

Net Sales

                   

Engineered Equipment Technology and Parts Group

                   

United States

    $ 90,509       $ (1,406 )    $ —       $ (248 )    $ (685 )    $ —       $ —        $ 88,170   

Netherlands

      25,927         (339 )      —         —         —         —         —          25,588   

China

      9,530         (1,767 )      —         —         —         —       —          7,763   

Canada

      5,160         (1,603 )      —         —         —         —         —        3,557   

Brazil

      170         —         —         —         —         —         —          170   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Subtotal

      131,296         (5,115 )      —          (248 )      (685 )      —         —          125,248   

Met-Pro Group

      31,669         (1,143 )      —         —         —         —            30,526   

Contracting / Services Group

      21,835         (464 )      (1785 )      (4 )      —         (82 )         19,500   

Component Parts Group

      23,253         (523 )      (21 )      (2 )      (799 )      —         —          21,908   

Corporate and other (a)

      —          —           —         —         —         135         135   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Net sales

    $ 208,053       $ (7,245 )    $ (1,806 )    $ (254 )    $ (1,484 )    $ (82 )    $ 135       $ 197,317   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

 

(a) Includes adjustment for revenue on intercompany jobs.

 

            Year Ended December 31, 2012  
     total sales      less
intra-segment
sales		     less inter-segment sales      net sales to
outside
customers		  
          EET&P     C/S     CP      Corp. (a)     

Net Sales

                  

Engineered Equipment Technology and Parts Group

                  

United States

    $ 77,447       $ (829 )    $ —       $ (794 )    $ —        $ —        $ 75,824   

Canada

      7,548         63        —         —         —          —          7,611   

China

      6,967         (2,062 )      —         —         —          —          4,905   

Brazil

      121         —         —         —         —          —          121   

India

      218         —         —         —         —          —          218   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Subtotal

      92,301         (2,828 )      —          (794 )      —          —          88,679   

Contracting / Services Group

      27,852         (83 )      (2,242 )      —         —             25,527   

Component Parts Group

      22,084         (366 )      (27 )      (920 )      —          —          20,771   

Corporate and other (a)

      19         —           (10 )      —          66         75   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Net sales

    $ 142,256       $ (3,277 )    $ (2,269 )    $ (1,724 )    $ —        $ 66       $ 135,052   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

 

(a) Includes adjustment for revenue on intercompany jobs.