Acquisition (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Allocation of Purchase Price Based on Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the purchase price based on the estimated fair value of assets acquired and liabilities assumed based on their preliminary estimated fair values at the acquisition date, which are subject to adjustment. The purchase accounting will be finalized within one year from the acquisition date.

Assets acquired:
Accounts receivable	$	2,105
Inventories		2,662
Prepaid expenses		43
Property, plant and equipment		124
Right of use asset - operating leases		229
Intangible assets		8,400
Goodwill		7,211
Assets acquired	$	20,774

Liabilities assumed:
Accounts payable	$	1,685
Accrued expenses		162
Operating lease liability - short term		112
Operating lease liability - long term		117
Total liabilities assumed		2,076

Net acquisition cost	$	18,698

Summary of Intangible Assets

The intangible assets included above consist of the following:

	Fair Value		Weighted Average Estimated Useful Life
Customer relationships	$	7,300	7.3 years
Trade name		500	5.0 years
Non-competition agreements		600	5.0 years
Total amortizable intangible assets	$	8,400