ACQUISITIONS AND DIVESTITURES |
12 Months Ended |
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Sep. 30, 2022 | |
| Business Combination and Asset Acquisition [Abstract] | |
| ACQUISITIONS AND DIVESTITURES | ACQUISITIONS AND DIVESTITURES: Fiscal 2022:
In August 2022, the Company acquired German-based engineering firms OLBRICH and R+S Automotive for a purchase price of approximately €43,700 ($44,469) (net of cash acquired) within the Industrial Technologies segment. OLBRICH is a production and intelligent equipment manufacturer, specializing in purpose-built rotary processing equipment, including equipment used in the manufacturing of dry and wet electrodes for lithium-ion batteries used in electric vehicles and components for hydrogen fuel cells and electrolyzers, with additional strong positions in Specialty & Pharma, Packaging and Home & Décor. R+S Automotive is a specialty engineering services provider of automation, plant and tooling concepts for automotive manufacturing companies around the world. Annual sales for these businesses were approximately $140,000 prior to the acquisition. The preliminary purchase price allocation is not finalized as of September 30, 2022 and is subject to changes as the Company obtains additional information related to fixed assets, intangible assets, and other assets and liabilities.
Fiscal 2021:
In April 2021, the Company completed a small acquisition in the hydrogen fuel cell industry within the Industrial Technologies segment for a purchase price of $2,523 (net of cash acquired and holdback amounts). The Company finalized the allocation of the purchase price in the first quarter of fiscal 2022, resulting in an immaterial adjustment to certain working capital accounts.
In January 2021, the Company acquired a memorialization business that produces and distributes cemetery products for a purchase price of $13,100. The Company finalized the allocation of the purchase price in the fourth quarter of fiscal 2021, resulting in an immaterial adjustment to certain working capital accounts.
Fiscal 2020:
During fiscal 2020, the Company completed a small acquisition in the Memorialization segment for a purchase price of $1,000 (net of cash acquired and holdback amounts). The Company finalized the allocation of the purchase price in the fourth quarter of fiscal 2021, resulting in an immaterial adjustment to certain working capital accounts.
During fiscal 2020, the Company sold its ownership interest in a non-consolidated Memorialization subsidiary for $42,210 of cash and $15,000 of senior preferred shares. In connection with this sale transaction, the Company recognized a pre-tax gain of $11,208, which was recorded as a component of administrative expenses for the year ended September 30, 2020. Subsequently, the Company received $15,000 for the full redemption of the senior preferred shares during fiscal 2021.
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