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Acquisitions
6 Months Ended
Apr. 30, 2016
Business Combinations [Abstract]  
Acquisitions
ACQUISITIONS
2016 Acquisitions
Effective December 1, 2015, we acquired all of the outstanding stock of Westway Services Holdings (2014) Ltd. (“Westway”), a provider of technical engineering services to customers in the United Kingdom, for a purchase price of $81.0 million.
We accounted for this acquisition under the acquisition method of accounting. Accordingly, we allocated the purchase price to the assets acquired and liabilities assumed at their estimated fair values, and recorded the excess of the purchase price as goodwill. As of April 30, 2016, the valuation of the intangible assets was incomplete. As such, the purchase price allocation reflects preliminary amounts of net assets acquired, including other intangible assets. These net assets are subject to adjustments within the measurement period, which is not to exceed one year from the acquisition date.
We recorded preliminary goodwill of $45.1 million, which is primarily attributable to projected long-term margin improvement through expansion of our technical services business to new and existing clients in the United Kingdom. Goodwill also reflects our identification of buyer-specific synergies that we anticipate will be realized by the reduction of duplicative positions, back office functions, professional fees, and other services. The goodwill associated with this acquisition is not deductible for tax purposes.
As of December 1, 2015, the operations of Westway are included in our Building & Energy Solutions segment.
2015 Acquisitions    
Effective May 1, 2015, we acquired certain assets and assumed certain liabilities of CTS Services/Facility Support Services (“CTS”), a provider of HVAC services and energy solutions in government, commercial, and industrial buildings, for a purchase price of $18.8 million. The purchase price includes $3.8 million of contingent consideration that is based on the expected achievement of certain pre-established revenue goals. See Note 7, “Fair Value of Financial Instruments,” regarding the valuation of the contingent consideration liability. As of May 1, 2015, the operations of CTS are included in our Building & Energy Solutions segment.
Pro Forma and Other Supplemental Financial Information
Pro forma and other supplemental financial information is not presented for these acquisitions, as they are not considered material business combinations.