Acquisitions

On February 1, 2018, the Company acquired CDF for $35.6 million in cash, net of cash acquired. CDF manufactures forgings for high-performance applications in the global aerospace, oil and gas, and other markets. Headquartered in Canton, Ohio, CDF is included in our Engineered Products segment. The assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date using level 3 inputs.

Below is the estimated purchase price allocation related to the acquisition of CDF:



Net working capital	$	20.8
Property, plant and equipment	21.4
Intangible assets	0.9
Goodwill	3.6
Pension liability	(3.6		)
Debt	(2.7		)
Other long-term liabilities, including deferred income tax liabilities	(4.8		)
Total purchase price (net of cash acquired of $1.2 million)	$	35.6

On October 1, 2018, the Company acquired Hydrapower Dynamics Limited (“Hydrapower”) for $7.8 million in cash, net of cash acquired. Headquartered in Birmingham, England, Hydrapower is a manufacturer of fluid handling systems incorporating hoses, manipulated tubes and fabricated assemblies for the bus and truck, automotive, agricultural and construction end markets. Hydrapower is included in our Assembly Components segment.

During 2018, the Company made two other acquisitions in its Supply Technologies segment totaling a cash purchase price of $3.5 million. Both acquired companies distribute products into the aerospace and defense end markets.

The results of operations of the 2018 are included in our consolidated results from the respective acquisition dates. Collectively, the 2018 acquisitions contributed $72.3 million of sales in 2018. The Company is currently finalizing the purchase price allocations of its 2018 acquisitions, particularly its valuation of deferred income taxes related to the CDF acquisition.

In connection with the 2018 acquisitions, we acquired $0.9 million of indefinite-lived tradenames and $1.5 million of customer relationships.

Goodwill associated with the 2018 acquisitions is not deductible for income tax purposes.

In April 2017, the Company acquired Aero-Missile Components Inc. (“AMC”). AMC, which is included in our Supply Technologies segment, is a supply chain management business providing high-quality specialty fasteners and other components to the defense and aerospace markets in the United States.

In October 2017, the Company completed the acquisition of Heads & All Threads Ltd. (“HAT”). HAT, which is included in our Supply Technologies segment, is a leading European supplier of supply chain management services specializing in developing vendor-managed inventory programs of fasteners, machined parts and other class C components to various industrial end markets.

In December 2017, the Company completed the acquisition of an injection molding business. The acquisition, which is included in our Assembly Components segment, is a manufacturer of precision-molded rubber components for several industrial markets.

The combined purchase price of the 2017 acquisitions was $39.7 million, net of cash acquired. The Company finalized its valuations of the assets acquired and liabilities assumed for the 2017 acquisitions during 2018.

As part of 2017 HAT acquisition, we acquired $4.0 million of customer relationships, including an adjustment in 2018 to increase the acquired assets by $2.0 million in connection with the finalization of the purchase price allocation.

Goodwill associated with the 2017 acquisitions is not deductible for income tax purposes.