BUSINESS AND ASSETS ACQUISITIONs

9 Months Ended

Dec. 31, 2014

BUSINESS AND ASSETS ACQUISITIONS

BUSINESS AND ASSETS ACQUISITIONS

12. BUSINESS AND ASSETS ACQUISITIONS

During the nine-month period ended December 31, 2014, the Company completed four acquisitions that were not individually, nor in the aggregate, significant to the consolidated financial position, results of operations and cash flows of the Company.  All of the acquired businesses expanded the Company’s capabilities in the medical devices market, particularly precision plastics.  The Company paid $51.4 million net of $5.9 million of cash held by the acquirees, and recorded an accrual of $4.5 million for contingent consideration relating to one of them.  The Company primarily acquired $28.9 million of current assets, $14.5 million of property and equipment, recorded goodwill and intangibles of $45.0 million, and assumed certain liabilities relating to payables and debt in connection with these acquisitions.  The results of operations were included in the Company’s consolidated financial results beginning on the date of these acquisitions. Pro-forma results of operations for these acquisitions have not been presented because the effects of the acquisitions were immaterial to the Company’s consolidated financial results for all periods presented.

The Company is in the process of evaluating the fair value of the assets and liabilities related to business combinations completed during the recent periods. Additional information, which existed as of the acquisition date, may become known to the Company during the remainder of the measurement period, a period not to exceed 12 months from the date of acquisition.  Changes to amounts recorded as assets and liabilities may result in a corresponding adjustment to goodwill during the respective measurement periods.