Acquisitions

9 Months Ended

Feb. 28, 2018

Acquisitions

Acquisitions

Note 14 — Acquisitions

On September 19, 2017, we acquired the outstanding shares of two MRO facilities in Quebec and Ontario, Canada owned by Premier Aviation for approximately $24.8 million.  The purchase price includes $22.9 million paid at closing and deferred consideration of $1.9 million payable September 2018.  This business is included in our Aviation Services segment.  The amounts recorded for certain assets are preliminary in nature and are subject to adjustment as additional information is obtained about their acquisition date fair value.  The final determination of the fair values will be completed within the one year measurement period.  The preliminary fair value of assets acquired and liabilities assumed is as follows:

Current assets	$	4.1
Property and equipment	13.1
Intangible assets, including goodwill	16.0
Accounts payable and accrued liabilities	(8.4		)
	$	24.8

On April 10, 2017, we acquired the trading business of ACLAS Global Limited (“ACLAS”).  In conjunction with the acquisition, we entered into a multi-year component support and repair contract covering approximately 100 of ACLAS’ aircraft.  The purchase price of the acquisition was $12.0 million paid at closing with $3.0 million in deferred consideration payable over the next three years.  This business operates as part of our Aviation Services segment.  The amounts recorded for certain assets are preliminary in nature and are subject to adjustment as additional information is obtained about their acquisition date fair value.  The final determination of the fair values will be completed within the one year measurement period.  The preliminary fair value of assets acquired is as follows:

Inventory	$	5.0
Equipment on or available for long-term lease	7.0
Intangible assets	3.0
	$	15.0