Note 3 - Selmec Acquisition

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Business Combination Disclosure [Text Block]

3.

Selmec Acquisition

On

June 1, 2018,

the Company acquired Selmec for a purchase price of

$78,307,

net of cash acquired and inclusive of estimated earnout payments of

$6,750.

Headquartered in Mexico City, Mexico, Selmec is a designer and manufacturer of industrial generators ranging from

10kW

to

2,750kW.

Selmec offers a market-leading service platform and specialized engineering capabilities, together with robust integration, project management and remote monitoring services. The acquisition purchase price was funded solely through cash on hand.

The Company recorded a preliminary purchase price allocation during the

second

quarter of

2018

based upon its estimates of the fair value of the acquired assets and assumed liabilities. As a result, the Company recorded approximately

$76,504

of intangible assets, including approximately

$38,538

of goodwill recorded in the International segment, as of the acquisition date. The goodwill ascribed to the acquisition is

not

deductible for tax purposes. The accompanying condensed consolidated financial statements include the results of Selmec from the date of acquisition through

June 30, 2018.