Subsequent Event

12 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

On January 3, 2020, the Company announced that it had completed the acquisition of Bal Seal Engineering Inc. ("Bal Seal"), at a purchase price of approximately $331.0 million, subject to working capital adjustments. Bal Seal is a leader in the design, development, and manufacturing of highly engineered products including precision springs, seals and contacts. Bal Seal has an established global presence, with manufacturing facilities across the United States and sales representation in the United States, Europe and Asia. In the year ended December 31, 2019, the Company incurred $4.0 million in acquisition costs associated with the acquisition of Bal Seal, which was included in selling, general and administrative expenses on the Company's Consolidated Statements of Operations. The Company is currently performing procedures to determine the purchase price allocation and estimating the fair value of tangible and intangible assets acquired and liabilities assumed in connection with the Bal Seal acquisition. The initial fair value estimates will be recorded in the first quarter of 2020.

The Company has evaluated subsequent events through the issuance date of these financial statements. Other than the matter noted above, no material subsequent events were identified that require disclosure.