Sale of Business

9 Months Ended

Sep. 27, 2015

Sale of Business

Sale of Business

6.Sale of Business

Sale of Certain Americas Product Lines

On September 15, 2015, the Company completed the sale of certain assets related to the Company’s fittings, brass and tubular and vinyl tubing product lines to Sioux Chief Mfg. Co., Inc. in an all-cash transaction.  The Company received net cash proceeds of approximately $33.1 million, after inventory adjustments and transaction fees.  Total net assets sold were $33.4 million with a pre-tax loss on the sale of approximately $0.3 million.

The carrying amounts of the net assets sold were as follows:

	September 27,
	2015
	(in millions)
Inventories, net	$	21.9
Other assets	3.1
Property, plant and equipment, net	4.3
Goodwill	4.1
Total net assets sold	$	33.4