Quarterly report pursuant to Section 13 or 15(d)

Acquisition (Tables)

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Acquisition (Tables)
3 Months Ended
Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Purchase Price Allocation
Preliminary Purchase Price Allocation - Vapor Power
Amortization Period (years) Fair Value
Cash $ 7,051 
Accounts receivable 8,683 
Inventories 8,254 
Other current assets 1,693 
Property, plant and equipment 2,576 
Operating lease right-of-use assets 2,700 
Intangibles:
Customer relationships(1)
2 - 15
22,953 
Trademarks 10 7,879 
Developed technology 15 13,689 
Goodwill 51,750 
Total fair value of assets acquired $ 127,228 
Current liabilities (17,156)
Operating lease liability (2,549)
Total fair value of liabilities acquired $ (19,705)
Total purchase price $ 107,523 
(1) Included in the customer relationships intangible assets is $4,407 related to customer backlog with an estimated useful life of 2 years.
Schedule of Unaudited Pro Forma Information
Three Months Ended June 30, 2024 Three Months Ended June 30, 2023
Sales $ 115,126  $ 115,859 
Net income 8,631  11,347