Note 12 Acquisition

9 Months Ended

Jun. 27, 2015

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

Acquisitions

Fourth Quarter of 2015 (Subsequent event)

On June 29, 2015, the Company purchased all outstanding stock of a privately-held company that designs and manufactures equipment for the oil and gas industry. The acquisition further enhances and complements the Company's existing capabilities in the oil and gas market. Consideration for the acquisition consists of cash of approximately $15.1 million, plus up to an additional $23.5 million if certain annual earnings targets are achieved in the first five years following the date of acquisition. In addition, the Company assumed $15.3 million of debt, which was repaid immediately upon closing of the acquisition. The Company is in the process of determining the fair value of assets and liabilities acquired, including contingent consideration, and does not expect the acquisition to have a material effect on the Company's financial position or results of operations in the fourth quarter of 2015.

Third Quarter of 2014

On April 28, 2014, the Company acquired a manufacturing operation that primarily produces industrial-related products serving multiple end-user markets. The Company also entered into a master supply agreement with the acquiree in connection with this acquisition. Total consideration paid for this acquisition was $40.2 million, consisting of $25.4 million of cash and non-interest bearing notes payable with a discounted value of $14.8 million.

First Quarter of 2014

On December 18, 2013, the Company acquired a manufacturing operation in the oil and gas industry that increased the Company's precision machining, assembly, integration and test capabilities. The Company also entered into a master supply agreement with the acquiree in connection with this acquisition. Cash consideration paid by the Company for this acquisition was $54.1 million.