Acquisition (Tables)

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

Summary of Allocation of Purchase Price Based on Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the purchase price based on the estimated fair value of assets acquired and liabilities assumed based on their preliminary estimated fair values at the acquisition date, which are subject to adjustment. The purchase accounting will be finalized within one year from the acquisition date.

Assets acquired:
Accounts receivable	$	2,072
Inventories		2,657
Prepaid expenses		20
Property, plant and equipment		124
Right of use asset - operating leases		229
Intangible assets		8,400
Goodwill		7,051
Assets acquired	$	20,553
Liabilities assumed:
Accounts payable	$	1,714
Operating lease liability - short term		112
Operating lease liability - long term		117
Total liabilities assumed		1,943
Net acquisition cost	$	18,610

Summary of Intangible Assets

The intangible assets included above consist of the following:

	Fair Value		Weighted Average Estimated Useful Life
Customer relationships		7,300	7.3 years
Trade name		500	5.0 years
Non-competition agreements		600	5.0 years
Total amortizable intangible assets	$	8,400