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Note 5 - Acquisition and Divestiture
9 Months Ended
Sep. 30, 2021
Notes to Financial Statements  
Mergers, Acquisitions and Dispositions Disclosures [Text Block]

5.

Acquisition and Divestiture

 

Coatings

 

During the first quarter of 2021, we sold the Coatings business. The resulting pre-tax gain was $9.8 million and is reflected within selling and administrative expense in the consolidated statements of income.

 

Gaomei

 

On January 4, 2019, we completed the acquisition of Hefei Gaomei Cleaning Machines Co., Ltd. and Anhui Rongen Environmental Protection Technology Co., Ltd. (collectively "Gaomei"), privately held designers and manufacturers of commercial cleaning solutions based in China. The financial results for Gaomei have been included in our consolidated financial results since the date of closing. The purchase price included contingent consideration. A payment of $0.5 million was paid in the first quarter of 2021, and final payments totaling $2.0 million were paid in the third quarter of 2021.