Acquisitions

12 Months Ended

May 31, 2017

Acquisitions

Acquisitions

13. Acquisitions

        On April 10, 2017, we acquired the trading business of ACLAS Global Limited ("ACLAS"). In conjunction with the acquisition, we entered into a multi-year component support and repair contract covering approximately 100 of ACLAS' aircraft. The purchase price of the acquisition was $12.0 million paid at closing with $3.0 million in deferred consideration payable over the next three years. This business operates as part of our Aviation Services segment.

        The amounts recorded for certain assets are preliminary in nature and are subject to adjustment as additional information is obtained about their acquisition date fair value. The final determination of the fair values will be completed within the one year measurement period. The preliminary fair value of assets acquired is as follows:

Inventory	$	5.0
Equipment on or available for long-term lease		7.0
Intangible assets		3.0
Assets acquired	$	15.0

        On December 4, 2015, we acquired certain assets of Vantem Modular LLC, which designs, manufactures, and distributes modular shelters. The purchase price of the acquisition was $4.8 million paid at closing with future royalties of up to $5.0 million. This business operates as part of our Expeditionary Services segment.

        The fair value of net assets acquired is as follows:

Current assets	$	1.5
Equipment		0.5
Intangible assets		3.5
Contingent consideration		(2.0	)
Net assets acquired		3.5
Goodwill		1.3
Purchase price	$	4.8