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Subsequent Event
3 Months Ended
Mar. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On April 1, 2021, the Company acquired NYK Component Solutions Limited (“NYK”) for $5.7 million in cash, net of cash acquired, plus potential contingent consideration of up to an additional $2.0 million. NYK, which will be included in our Supply Technologies segment, is headquartered in Southampton, United Kingdom and is a leading distributor of circular connectors and accessories for use in aerospace, defense, and other industrial applications. NYK provides complementary products to our existing products in Supply Technologies.

On April 23, 2021, the Company's Board of Directors declared a quarterly dividend of $0.125 per common share. The dividend will be paid on May 21, 2021 to shareholders of record as of the close of business on May 7, 2021 and will result in a cash outlay of approximately $1.6 million.