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Subsequent Events
12 Months Ended
May 31, 2022
Subsequent Events [Abstract]  
Subsequent Events

Note V – Subsequent Events

 

On June 2, 2022, we announced that our Consumer Products business segment acquired Level5® Tools. The purchase price for the acquisition of Level5® Tools, which closed on June 2, 2022, was approximately $55,000,000, with a potential earnout payment of up to $25,000,000 based upon performance through 2024, and was sourced primarily from our existing cash, together with borrowings under our Credit Facility. Level5® Tools, which will operate within our Consumer Products business segment, employs approximately 30 people and is headquartered in Kansas City, Kansas, with an additional warehouse facility in Kansas City, Missouri.