Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.8.0.1
Acquisitions (Tables)
 9 Months Ended
Dec. 31, 2017
Business Combinations [Abstract]  
Business Acquisition, Pro Forma Information
The following table presents selected unaudited pro forma information for the Company assuming the acquisition of CCI had occurred as of April 1, 2016. This pro forma financial information is presented for informational and illustrative purposes and does not purport to represent what the Company’s actual results would have been if the acquisition had occurred as of the date indicated or what such results would be for any future periods. In addition, the unaudited pro forma results do not include any anticipated synergies or other expected benefits of the acquisition or costs necessary to obtain the anticipated synergies and benefits. The pro forma financial information includes the amortization associated with the acquired intangible assets, interest expense associated with debt used to fund the acquisition, amortization of the inventory step-up, removal of aircraft and rent expense for assets not assumed in the transaction, acquisition related expenses, and the income tax affected for the pro forma results.

(Dollars in Thousands, except share and per share data)
 
 
Pro Forma Financial Information (Unaudited)
 
 
Three months ended December 31,
 
Nine months ended December 31,
 
 
2017
 
2016
 
2017
 
2016
Revenues
 
$
99,281

 
$
83,779

 
$
245,878

 
$
241,890

Net income available to Thermon Group Holdings, Inc. (loss)
 
362

 
4,550

 
(294
)
 
(1,716
)
Earnings per share:
 
 
 
 
 
 
 
 
Basic
 
$
0.01

 
$
0.14

 
$
(0.01
)
 
$
(0.05
)
Diluted
 
$
0.01

 
$
0.14

 
$
(0.01
)
 
$
(0.05
)
Business Combination, Purchase Price Information
The following table details the purchase price of the THS transaction:
Consideration to or on behalf of sellers at close
$
204,235

Fair value of total consideration transferred
204,235

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed:
Assets acquired:
 
     Cash
$
1,534

     Accounts receivable
14,351

     Inventories
20,489

     Other current assets
731

     Property, plant and equipment
29,464

     Identifiable intangible assets
79,002

     Goodwill
87,540

Total assets
233,111

Liabilities assumed:
 
     Current liabilities
6,255

     Other non-current liabilities
500

     Non-current deferred tax liability
22,121

Total liabilities
28,876

Total consideration
$
204,235

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination
Our provisional estimate of identifiable intangible assets at December 31, 2017 that were related to the THS transaction, inclusive of currency translation adjustments for the period, consisted of the following:
 
Amortization period
 
Gross Carrying Amount at December 31, 2017
 
Accumulated Amortization
 
Net Carrying Amount at December 31, 2017
 
 
 
 
 
 
 
 
Products
10 Years
 
$
66,408

 
$
1,107

 
$
65,301

Customer relationships
17 Years
 
11,465

 
112

 
11,353

Backlog
1 Year
 
3,320

 
553

 
2,767

Total
 
 
$
81,193

 
$
1,772

 
$
79,421