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Subsequent Event | 9 Months Ended
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Sep. 30, 2014
Subsequent Events [Abstract] |
Subsequent Events [Text Block] | Subsequent Events Acquisition In October 2014, the Company acquired the stock of Allfast Fastening Systems, Inc. ("Allfast") for the cash purchase price of approximately $360 million, at which time it became part of the Company's Aerospace reportable segment. The purchase price remains subject to the finalization of a net working capital adjustment, if any. Located in California, Allfast is a global manufacturer of solid and blind rivets, blind bolts, temporary fasteners and installation tools for the aerospace industry and generated approximately $56 million in revenue for the twelve months ended September 30, 2014. Debt Financing In October 2014, the Company amended its Credit Agreement to allow for the borrowing of an incremental $275 million senior secured term loan A facility. The proceeds from the incremental term loan A plus cash and additional borrowings under the Company’s existing senior secured revolving credit facility were used to fund the Allfast acquisition. The incremental term loan A bears interest at borrowing rates consistent with the remainder of the Credit Agreement, amortizes quarterly and matures on October 16, 2018.

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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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