Note 4. Acquisitions The Company can enhance its business and market share by entering into new markets in various ways, including starting up a new location or acquiring a business consisting of container, modular unit or mobile office assets of another entity. An acquisition generally provides the Company with operations that enables it to at least cover existing overhead costs and is preferable to a start-up or greenfield location. The businesses discussed below were acquired primarily to expand the Company s container lease fleet. The accompanying consolidated financial statements include the operations of the acquired businesses from the dates of acquisition. On August 28, 2015, the Company, through Pac-Van, purchased the business of Mobile Storage Solutions of Mo., LLC ( MSS ) for $1,497,000, which included a deferred purchase price promissory note of $613,000, bearing interest at 2.00% per annum and due in January 2016, and a holdback amount of $139,000. MSS leases and sells storage and office containers and storage trailers in Springfield, Missouri. The preliminary allocation for the acquisition in FY 2016 to tangible and intangible assets acquired and liabilities assumed based on their estimated fair market values was as follows (in thousands): MSS August 28, 2015 Fair value of the net tangible assets acquired and liabilities assumed: Trade and other receivables $   Inventories   Prepaid expenses and other   Property, plant and equipment 60 Lease fleet 933 Accounts payables and accrued liabilities   Deferred income taxes   Unearned revenue and advance payments (27) Total net tangible assets acquired and liabilities assumed 966 Fair value of intangible assets acquired: Non-compete agreement 132 Customer lists/relationships 226 Trade name   Goodwill 173 Total intangible assets acquired 531 Total purchase consideration $ 1,497 Goodwill recognized is attributable primarily to expected corporate synergies, the assembled workforce and other factors. The goodwill recognized in the MSS acquisition is deductible