Acquisitions & Divestitures

12 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

Acquisitions and Divestitures

Acquisitions and Divestitures

In 2017, we sold non-core businesses of our Space and Defense Controls segment. We recorded losses in other expense of $13,191 and consideration of $7,105 related to the sales.

On April 2, 2017, we acquired Rotary Transfer Systems, a manufacturer of electromechanical systems, located in Germany and France for a purchase price, net of acquired cash, of $42,593, consisting of $40,545 in cash and $2,048 in assumed pension obligations. This operation is included in our Components segment. The purchase price allocation is subject to adjustments as we obtain additional information for our estimates during the measurement period.

In 2016, we acquired a 70% ownership in Linear Mold and Engineering, a Livonia, Michigan-based company specializing in metal additive manufacturing that provides engineering, manufacturing and production consulting services to customers across a wide range of industries, including aerospace, defense, energy and industrial. The purchase price, net of acquired cash, was $22,765 consisting of $11,016 in cash, issuance of a $1,280 unsecured note and assumption of $10,469 of debt. This acquisition is included in our Space and Defense Controls segment. On January 25, 2017, we acquired the remaining 30% redeemable noncontrolling interest for $1,656 in cash, which is reflected in additional paid-in capital.