XML 65 R20.htm IDEA: XBRL DOCUMENT

Subsequent Event	6 Months Ended
Subsequent Event	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Event	14. Subsequent Event On July 31, 2015, the Company acquired Odessa Pumps and Equipment, Inc. (“Odessa Pumps”), for purchase price consideration of approximately $170 million, subject to adjustment. The purchase price consideration is subject to customary post-closing working capital adjustments that could ultimately affect the amount of purchase price consideration and goodwill recognized. Odessa Pumps is headquartered in Odessa, Texas and has service locations in Texas and New Mexico. Odessa Pumps is a full-service pump company that provides pump solutions, packages, parts, repair, and machining. The determination of the fair values of the assets acquired and liabilities assumed, particularly the fair value of the individual intangible assets acquired, requires significant judgment. This fair value analysis and valuation has not yet been completed. The Company anticipates completing the fair value determinations by early fiscal 2016. In July 2015, the Company entered into an agreement to purchase the business of Challenger Industries, Inc. The completion of this acquisition is subject to customary closing conditions, including regulatory approval. Challenger Industries, Inc. is a pipe, valves and fittings supplier for the downstream, midstream and upstream energy markets.