Note 15 - Acquisition

3 Months Ended

Jul. 31, 2024

Notes to Financial Statements

Business Combination Disclosure [Text Block]

15. Acquisition:

In September 2023, the Company acquired KC Machine to help expand our Avcon parts fabrication capacity for $2,860. KC Machine is a recognized provider of high quality precision machine parts. The purchase price was paid by a combination of $2,375 in cash, a $300 earned-out liability that was paid in March 2024, and a final escrow liability due September 2024.  The present value of these liabilities is included in accounts payable at July 31, 2024.

The following table summarizes the purchase price and accounting for this transaction:

Purchase price summary:
Cash paid at closing	$	2,375
Present value of final escrow liability		228
Present value of earn-out liability		257
	$	2,860
Accounting summary:
Building	$	1,510
Equipment		930
Intangibles		205
Inventory		230
Other		(15	)
	$	2,860