Helios Technologies Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Business Acquisition (Tables)

Business Acquisition (Tables)

12 Months Ended

Dec. 31, 2022

Components of Fair Value of Total Purchase Consideration

The fair value of total purchase consideration consisted of the following:


Cash	$	224.2
Receivable from sellers		(0.6	)
Acquisition date fair value of contingent consideration		2.5
Total purchase consideration		226.1
Less: cash acquired		(6.0	)
Total purchase consideration, net of cash acquired	$	220.1

Schedule of Allocation of Total Purchase Price, Net of Cash Acquired

The allocation of the total purchase price, net of cash acquired, is as follows:


Accounts receivable	$	28.3
Inventories		24.8
Property, plant and equipment		12.5
Goodwill		76.5
Intangible assets		128.0
Other assets		12.2
Total assets acquired		282.3
Accounts payable		17.8
Other accrued expenses and current liabilities		10.2
Deferred income taxes		23.6
Other noncurrent liabilities		10.6
Total liabilities assumed		62.2
Fair value of net assets acquired	$	220.1

Schedule of Preliminary Fair Value of Identified Intangible Assets and Useful Lives

The fair value of identified intangible assets and their respective useful lives are as follows:


	Fair Value		Weighted- Average Amortization Periods (Yrs)
Trade name	$	22.0		18
Technology		13.0		8
Customer relationships		85.0		25
Sales order backlog		8.0		0.5
Identified intangible assets	$	128.0		21

Other Acquisitions

During the fiscal years ended December 31, 2022 and January 1, 2022, the Company completed three additional business acquisitions. The results of operations of the acquired businesses are included in the Company's Consolidated Financial Statements since the date of each acquisition. Certain disclosures have not been presented as the effects of the acquisitions, individually and in the aggregate, were not material to the Company's financial results.

In January 2021, the Company acquired all of the assets of BJN Technologies, LLC, an innovative engineering solutions provider, and formed the Helios Center of Engineering Excellence, LLC to centralize innovation and technology advancements to better leverage Helios’ product portfolio and global talent.

In October 2021, the Company completed the acquisition of assets related to the electronic control systems business of Shenzhen Joyonway Electronics & Technology Co., Ltd and its related entities. Joyonway is a developer of control panels, software, systems and accessories for the health and wellness industry. The results of Joyonway’s operations are reported in the Company’s Electronics segment.

In July 2022, we completed the acquisition of the assets of Taimi R&D, Inc., a Canadian manufacturer of innovative hydraulic components that offer ball-less design swivel products, which improve hydraulic reliability of equipment, increase the service life of components and help protect the environment by reduced leakage. The results of Taimi’s operations are reported in the Company’s Hydraulics segment.