Business Acquisitions	3 Months Ended
Mar. 31, 2022
Business Acquisitions [Abstract]
Business acquisitions disclosure [Text Block]	Note 2 – Business Acquisitions 2022 Acquisitions In January 2022, the Company acquired a business that provides pickling inhibitor technologies for the steel industry, drawing lubricants and stamping oil for metalworking, and various other lubrication, rust preventative, and cleaner applications, for its Americas reportable segment for approximately $ 8.0 million. This business broadens the Company’s product offerings within its existing metals and metalworking business in the Americas region. The Company allocated $ 5.6 million of the purchase price to intangible assets, comprised of $ 5.1 million of customer relationships to be amortized over 14 years; and $ 0.5 million of existing product technologies to be amortized over 14 years. In addition, the Company recorded $ 1.8 million of goodwill related to expected value not allocated to other acquired assets, all of which is expected to be tax deductible in various jurisdictions in which the Company operates. In January 2022, the Company acquired a business related to the sealing and impregnation of metal castings for the automotive sector, as well as impregnation resin and impregnation systems for metal parts, for its Global Specialty Business reportable segment for approximately 1.2 million EUR or approximately $ 1.4 million. This business expands the Company's geographic presence in Germany as well as broadens its product offerings and service capabilities within its existing impregnation business acquired as part of the Norman Hay acquisition in 2019. The results of operations of the 2022 acquired assets and businesses subsequent to the respective acquisition dates are included in the unaudited Condensed Consolidated Statements of Income for the quarter ended March 31, 2022. Applicable transaction expenses associated with these acquisitions are included in Combination, integration and other acquisition-related expenses in the Company’s unaudited Condensed Consolidated Statements of Income. Certain pro forma and other information is not presented, as the operations of the acquired assets and businesses are not considered material to the overall operations of the Company for the periods presented. Previous Acquisitions In November 2021, the Company acquired Baron Industries (“Baron”), a privately held Company that provides vacuum impregnation services of castings, powder metals and electrical components for its Global Specialty Businesses reportable segment for $ 11.0 million, including an initial cash payment of $ 7.1 million, subject to post-closing adjustments as well as certain earn-out provisions initially estimated at $ 3.9 million that are payable at different times from 2022 through 2025. The earn-out provisions could total a maximum of $ 4.5 million. The Company allocated $ 8.0 million of the purchase price to intangible assets, $ 1.1 million of property, plant and equipment and $ 1.5 million of other assets acquired net of liabilities assumed, which includes $ 0.3 million of cash acquired. In addition, the Company recorded $ 0.4 million of goodwill, all of which is expected to be tax deductible. Intangible assets comprised $ 7.2 million of customer relationships to be amortized over 15 years ; and $ 0.8 million of existing product technology to be amortized over 13 years . In November 2021, the Company acquired a business that provides hydraulic fluids, coolants, cleaners, and rust preventative oils in Turkey for its EMEA reportable segment for 3.2 million EUR or approximately $ 3.7 million. In September 2021, the Company acquired the remaining interest in Grindaix -GmbH (“Grindaix”), a Germany-based, high-tech provider of coolant control and delivery systems for its Global Specialty Businesses reportable segment for 2.4 million EUR or approximately $ 2.9 million, which is gross of approximately $ 0.3 million of cash acquired. Previously, in February 2021, the Company acquired a 38 % ownership interest in Grindaix for 1.4 million EUR or approximately $ 1.7 million. The Company recorded its initial investment as an equity method investment within the Consolidated Financial Statements and accounted for the purchase of the remaining interest as a step acquisition whereby the Company remeasured the previously held equity method investment to its fair value. In June 2021, the Company acquired certain assets for its chemical milling maskants product line in the Global Specialty Businesses reportable segment for 2.3 million EUR or approximately $ 2.8 million. In February 2021, the Company acquired a tin-plating solutions business for the steel end market for $ 25.0 million. This acquisition is part of each of the Company’s geographic reportable segments. The Company allocated $ 19.6 million of the purchase price to intangible assets, comprised of $ 18.3 million of customer relationships, to be amortized over 19 years ; $ 0.9 million of existing product technology to be amortized over 14 years ; and $ 0.4 million of a licensed trademark to be amortized over 3 years . In addition, the Company recorded $ 5.0 million of goodwill, all of which is expected to be tax deductible in various jurisdictions in which we operate. Factors contributing to the purchase price that resulted in goodwill included the acquisition of business processes and personnel that will allow Quaker Houghton to better serve its customers. As of March 31, 2022, the allocation of the purchase price of these acquisitions have not been finalized and the one-year measurement period has not ended, with the exception of the tin-plating solutions business acquired in February 2021, the measurement period for which ended in February 2022. Further adjustments may be necessary as a result of the Company’s on-going assessment of additional information related to the fair value of assets acquired and liabilities assumed. In December 2020, the Company acquired Coral Chemical Corporation (“Coral”), a privately held U.S.-based provider of metal finishing fluid solutions. Subsequent to the acquisition, the Company and the sellers of Coral (the “Sellers”) have worked to finalize certain post-closing adjustments. In April 2022, after failing to reach resolution, the Sellers filed suit asserting certain amounts owed related to tax attributes of the acquisition. Based on the facts and circumstances of the claim asserted by the Sellers, the Company believes the potential range of exposure for this claim is $ 0 to $ 1.5 million.

Note 2 – Business Acquisitions

2022 Acquisitions

In January 2022, the Company acquired a business that provides pickling

inhibitor technologies for the steel industry,

drawing

lubricants and stamping oil for metalworking, and various other lubrication,

rust preventative, and cleaner applications, for its

Americas reportable segment for approximately $

8.0

million.

This business broadens the Company’s

product offerings within its

existing metals and metalworking business in the Americas region.

The Company allocated $

5.6

million of the purchase price to

intangible assets, comprised of $

5.1

million of customer relationships to be amortized over

years; and $

0.5

million of existing

product technologies to be amortized over

years.

In addition, the Company recorded $

1.8

million of goodwill related to expected

value not allocated to other acquired assets, all of which is expected to be tax deductible

in various jurisdictions

in which the

Company operates.

In January 2022, the Company acquired a business related to the sealing and impregnation

of metal castings for the automotive

sector, as well as impregnation resin and

impregnation systems for metal parts, for its Global Specialty Business reportable segment

for approximately

1.2

million EUR or approximately $

1.4

million.

This business expands the Company's geographic presence in

Germany as well as broadens its product offerings and

service capabilities within its existing impregnation business acquired

as part of

the Norman Hay acquisition in 2019.

The results of operations of the 2022 acquired assets and businesses subsequent

to the respective acquisition dates are included in

the unaudited Condensed Consolidated Statements of Income for the quarter ended

March 31, 2022.

Applicable transaction expenses

associated with these acquisitions are included in Combination,

integration and other acquisition-related expenses in the Company’s

unaudited Condensed Consolidated Statements of Income.

Certain pro forma and other information is not presented, as the operations

of the acquired assets and businesses are not considered material to the overall operations

of the Company for the periods presented.

Previous Acquisitions

In November 2021, the Company acquired Baron Industries (“Baron”),

a privately held Company that provides vacuum

impregnation services of castings, powder metals and electrical components

for its Global Specialty Businesses reportable segment for

11.0

million, including an initial cash payment of $

7.1

million, subject to post-closing adjustments as well as certain earn-out

provisions initially estimated at $

3.9

million that are payable at different times from 2022 through

2025.

The earn-out provisions

could total a maximum of $

4.5

million.

The Company allocated $

8.0

million of the purchase price to intangible assets, $

1.1

million of

property, plant and

equipment and $

1.5

million of other assets acquired net of liabilities assumed, which includes $

0.3

million of cash

acquired.

In addition, the Company recorded $

0.4

million of goodwill, all of which is expected to be tax deductible.

Intangible assets

comprised $

7.2

million of customer relationships to be amortized over

15 years

; and $

0.8

million of existing product technology to be

amortized over

13 years

In November 2021, the Company acquired a business that provides

hydraulic fluids, coolants, cleaners, and rust preventative oils

in Turkey for its EMEA reportable segment for

3.2

million EUR or approximately $

3.7

million.

In September 2021, the Company acquired the remaining interest in Grindaix

-GmbH (“Grindaix”), a Germany-based, high-tech

provider of coolant control and delivery systems for its Global Specialty Businesses reportable

segment for

2.4

million EUR or

approximately $

2.9

million, which is gross of approximately $

0.3

million of cash acquired.

Previously, in February

2021, the

Company acquired a

% ownership interest in Grindaix for

1.4

million EUR or approximately $

1.7

million.

The Company recorded

its initial investment as an equity method investment within the Consolidated Financial

Statements and accounted for the purchase of

the remaining interest as a step acquisition whereby the Company remeasured

the previously held equity method investment to its fair

value.

In June 2021, the Company acquired certain assets for its chemical milling maskants

product line in the Global Specialty

Businesses reportable segment for

2.3

million EUR or approximately $

2.8

million.

In February 2021, the Company acquired a tin-plating solutions business for

the steel end market for $

25.0

million.

This

acquisition is part of each of the Company’s

geographic reportable segments.

The Company allocated $

19.6

million of the purchase

price to intangible assets, comprised of $

18.3

million of customer relationships, to be amortized over

19 years

; $

0.9

million of existing

product technology to be amortized over

14 years

; and $

0.4

million of a licensed trademark to be amortized over

3 years

In addition,

the Company recorded $

5.0

million of goodwill, all of which is expected to be tax deductible in various jurisdictions in which

operate.

Factors contributing to the purchase price that resulted in goodwill included the

acquisition of business processes and

personnel that will allow Quaker Houghton to better serve its customers.

As of March 31, 2022, the allocation of the purchase price of these acquisitions have

not been finalized and the one-year

measurement period has not ended, with the exception of the tin-plating

solutions business acquired in February 2021, the

measurement period for which ended in February 2022.

Further adjustments may be necessary as a result of the Company’s

on-going

assessment of additional information related to the fair value of assets acquired

and liabilities assumed.

In December 2020, the Company acquired Coral Chemical Corporation (“Coral”),

a privately held U.S.-based provider of metal

finishing fluid solutions.

Subsequent to the acquisition, the Company and the sellers of Coral (the “Sellers”) have

worked to finalize

certain post-closing adjustments.

In April 2022, after failing to reach resolution, the Sellers filed suit asserting certain

amounts owed

related to tax attributes of the acquisition.

Based on the facts and circumstances of the claim asserted by the Sellers, the Company

believes the potential range of exposure for this claim is $

to $

1.5

million.