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Subsequent Events
6 Months Ended
Jun. 30, 2018
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
Acquisition
On July 6, 2018, we acquired 100% of the membership interests of Griswold LLC (Griswold), a leading manufacturer of a wide range of high-performance engineered cellular elastomer and microcellular polyurethane products and solutions, for a cash-free, debt-free purchase price of $77.9 million plus an earn-out capped at $3.0 million based on certain of Griswold’s 2018 product sales. We used $82.5 million in borrowings under our existing credit facility to fund the transaction. Griswold, headquartered in Moosup, Connecticut, sells to customers across the automotive, transportation, medical, office products, printing and electronics industries.
Due to the timing of the acquisition, disclosures relating to the acquisition, including the allocation of the purchase price, have been omitted because the initial accounting for the transaction was incomplete as of the filing date of this report.