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Related-Party Transactions
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6 Months Ended |
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Sep. 30, 2012
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| Related-Party Transactions |
Related-Party Transactions
We paid management fees including a termination fee in connection with our IPO to our private equity sponsors of$8,120 in the six months ended September 30, 2011. The termination fee is included as part of Marketing, general and administrative and engineering expense. We did not pay management fees during the six months ended September 30, 2012.
Included in our consolidated balance sheet is “Obligations due to settle the CHS Transactions” which totaled $3,391 and $3,528 at September 30, 2012 and March 31, 2012, respectively. These amounts represent amounts due to the Predecessor owners in final settlement of the acquisition by our private equity sponsors of a controlling interest in us that was completed on April 30, 2010. During the three and six months ended September 30, 2012, we paid $6 and $137, respectively; to the Predecessor owners and during the three and six months ended September 30, 2011 we paid, $154 and $372, respectively; to the Predecessor owners, in each case reflected in "Obligations due to settle the CHS Transactions". At September 30, 2012, the amount outstanding represents the estimate of tax refunds due from government entities that have not been received but are related to the final tax periods filed by the Predecessor and remaining encumbered cash to be released as letters of credit expire.
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Thermon Holding Corp.
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| Related-Party Transactions |
Related-Party Transactions
We paid management fees including a termination fee in connection with our IPO to our private equity sponsors of $8,120 in the six months ended September 30, 2011. The termination fee is included as part of Marketing, general and administrative and engineering expense. We did not pay management fees during the six months ended September 30, 2012.
Included in our consolidated balance sheet is “Obligations due to settle the CHS Transaction” which totaled $$3,391 and $3,528 at September 30, 2012 and March 31, 2012, respectively. These amounts represent amounts due to the Predecessor owners in final settlement of the acquisition by our private equity sponsors of a controlling interest in us that was completed on April 30, 2010. During the three and six months ended September 30, 2012, we paid $6 and $137 respectively; to the Predecessor owners and for the three and six months ended September 30, 2011 we paid $154 and $372, respectively; to the Predecessor owners, in each case reflected in "Obligations due to settle the CHS Transactions". At September 30, 2012, the amount outstanding represents the estimate of tax refunds due from government entities that have not been received but are related to the final tax periods filed by the Predecessor and remaining encumbered cash to be released as letters of credit expire.
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