Business Combinations (Notes)

6 Months Ended

Sep. 28, 2014

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

Business Combinations

Acquisition of Advance Chemical Solutions, Inc.: On October 1, 2013, we acquired substantially all of the assets of Advance Chemical Solutions, Inc. (“ACS”). We paid $2.4 million in cash at closing. In addition, we may be obligated to pay an aggregate of $0.5 million in additional consideration to ACS over the first three years following the acquisition based on the achievement of certain financial performance targets, $0.4 million of which was earned in the first year and will be paid in our third quarter.

The ACS acquisition was accounted for under the acquisition method of accounting, under which the total estimated purchase price is allocated to the net tangible and intangible assets acquired based on their estimated fair values. We estimated the fair value of the assets acquired and liabilities assumed to be $2.8 million using a discounted cash flow analysis (income approach).

ACS had revenues of approximately $4.0 million for the 12 months ended September 30, 2013. The results of its operations since the acquisition date are included in our Water Treatment segment.