Subsequent Events

9 Months Ended

Dec. 31, 2018

Subsequent Events [Abstract]

Subsequent Events

21. Subsequent Events

Acquisition

On January 9, 2019, the Company completed the acquisition of all the equity interests of Dixie Electric, Ltd (“Dixie”), a privately held manufacturer and remanufacturer of alternators and starters for automotive, medium and heavy truck, industrial, farm and marine applications, based in Ontario, Canada. The initial purchase price was $8,035,000, subject to certain working capital adjustments, including up to $1,134,000 the Company is contingently obligated to pay to the former owners of Dixie over the next two years. The Company incurred $421,000 in acquisition costs during the nine months ended December 31, 2018, which were recorded in general and administrative expenses. The assets and results of operations of Dixie, and in the aggregate with the E&M acquisition, were not significant to the Company’s consolidated financial position or results of operations, and thus pro forma information is not presented.