Subsequent Events |
6 Months Ended |
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Jun. 30, 2016 | |
Subsequent Events | |
Subsequent Events |
15. Subsequent Events
On July 15, 2016, the Company completed the acquisition of substantially all of the assets of Dejana Truck & Utility Equipment Company, Inc. and certain of its affiliates (“Dejana”). The Company acquired substantially all of the assets for a total potential purchase price of $206,000 comprised of cash consideration of $180,000 subject to working capital and other adjustments and potential earnout payments of up to $26,000 in the aggregate, contingent upon the financial performance of the acquired business for each of the fiscal years ending December 31, 2016, 2017 and 2018.
The Company financed the asset purchase through an amendment to its Term Loan Credit Agreement, which included additional term loan commitments in the amount of $130,000, net of a $650 original issue discount and $30,000 in borrowings under the Revolving Credit Agreement.
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