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Subsequent Event
9 Months Ended
Sep. 30, 2021
Subsequent Events [Abstract]  
Subsequent Event Subsequent Event
On October 26, 2021, our Board of Directors declared a quarterly dividend on our common stock of $0.02 per share, to be paid on December 17, 2021 to stockholders of record as of the close of business on November 10, 2021. The Company estimates that the aggregate dividend payment will be approximately $8 million.
On October 29, 2021, the Company acquired Air Dimensions Inc. for a base purchase price of $70.5 million. The business is a manufacturer of vacuum diaphragm (positive displacement) pumps for environmental applications. Air Dimensions Inc. will be reported within the Precision and Science Technologies segment.
On November 2, 2021, the Company entered into an agreement to acquire Tuthill Pumps, a division of Tuthill Corporation, for $84.6 million. The business is a manufacturer of gear and piston (positive displacement) pumps that primarily serve the chemical, food and beverage, and wastewater markets. This transaction is expected to close in the fourth quarter of 2021, subject to regulatory approvals and customary closing conditions. Upon closing, Tuthill Pumps will be reported within the Precision and Science Technologies segment.