Acquisitions (Tables)

9 Months Ended

Feb. 28, 2021

Schedule of Acquisition of Intangible Assets

In connection with the acquisition of GTI, we identified and valued the following identifiable intangible assets:

(in thousands)
Category	Amount		Useful Life (Years)
Customer relationships	$	40,600	15
Trade names - indefinite lived		27,400	Indefinite
Trade name - finite lived		400	9
Total acquired identifiable intangible assets	$	68,400

Schedule of Consideration Transferred for the Assets and the Preliminary Fair Value Assigned to Assets Acquired and Liabilities Assumed

The following table summarizes the consideration paid and the estimated fair value assigned to the assets acquired and liabilities assumed at the acquisition date.

(in thousands)
Cash	$	1,633
Accounts receivable		16,440
Inventories		19,795
Prepaid expenses		924
Other current assets		97
Intangible assets		68,400
Property, plant and equipment		956
Other assets		5,532
Total identifiable assets		113,777
Accounts payable		(2,594	)
Accrued liabilities		(6,006	)
Other current liabilities		(1,580	)
Deferred tax liability		(11,635	)
Other long-term liabilities		(5,084	)
Net identifiable assets		86,878
Goodwill		33,714
Purchase price	$	120,592