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Subsequent Events
12 Months Ended
Dec. 31, 2016
Subsequent Events [Abstract]  
Subsequent Events

18. Subsequent Event

 

On February 1, 2017 the Company announced that it had acquired assets of Spill Magic, Inc., for $7.2 million in cash. The Spill Magic products are leaders in absorbents that encapsulate spills into dry powders that can be safely disposed. Many large retail chains use its products to remove liquids from broken glass containers, oil and gas spills, bodily fluids, and solvents. Its easy-to-use and environmentally friendly products permanently absorb the spills, leaving the floors underneath dry and reducing injuries from falls. Spill Magic also sells spill clean-up kits and blood borne pathogen kits for the safety market.

 

The acquired assets include inventory, accounts receivable and fixed assets. Spill Magic is located in Santa Ana, California and Smyrna, Tennessee, and began operations in 1995. The company employed 22 people all of whom the Company retained.