Acquisition

12 Months Ended

Dec. 31, 2013

Acquisition

Acquisition

(4) Acquisition

On November 6, 2013, the Company purchased certain assets of J.T. Power, an ‘end-of-life’ solution provider for aircraft engines and parts, for $5.6 million. A cash payment of $4.5 million was made to fund the transaction, after deducting amounts owed to the Company, $0.7 million related to the minimum guarantee of an existing consignment program and cash received of $0.4 million. The major classes of assets to which we allocated the purchase price were spare parts inventory of $3.4 million, accounts receivable of $1.7 million, identifiable intangible assets of $1.2 million and goodwill of $0.3 million.