Acquisitions, Divestitures and Equity Method Investments

6 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Acquisitions, Divestitures and Equity Method Investments

Acquisitions, Divestitures and Equity Method Investments

On March 29, 2018, we acquired VUES Brno s.r.o, located in the Czech Republic and Germany, for a purchase price, net of acquired cash, of $62,683, consisting of $42,110 in cash and $20,573 of assumed debt. VUES designs and manufactures customized electric motors, generators and solutions. This operation is included in our Industrial Systems segment. The purchase price allocation is subject to adjustments as we obtain additional information for our estimates during the measurement period.

On October 3, 2017, we, in collaboration with SIA Engineering Company, announced the joint venture company, Moog Aircraft Services Asia ("MASA"), in Singapore, of which we currently hold a 51% ownership. MASA is intended to provide maintenance, repair and overhaul services for our manufactured flight control systems. As we hold a majority ownership in MASA, but share voting control, we are accounting for this investment using the equity method. At March 31, 2018, we have made total contributions of $3,570 and intend to make one additional contribution of $1,530 during 2018. This operation is included in our Aircraft Controls segment.

In 2017, we sold non-core businesses of our Space and Defense Controls segment for $7,210 in cash and recorded losses in other expense of $13,119 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 Industrial Systems segment.