Acquisition (Tables)

3 Months Ended

Mar. 31, 2020

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	$	2,105
Inventories		2,719
Prepaid expenses		43
Property, plant and equipment		124
Right of use asset - operating leases		229
Intangible assets		8,400
Goodwill		7,143
Assets acquired	$	20,763

Liabilities assumed:
Accounts payable	$	1,675
Accrued expenses		143
Operating lease liability - short term		112
Operating lease liability - long term		117
Total liabilities assumed		2,047

Net acquisition cost	$	18,716

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