ACQUISITIONS Reinhold Acquisition On May 31, 2013 , the Company, through its HEICO Flight Support Corp. subsidiary, acquired Reinhold Industries, Inc. ("Reinhold") through the acquisition of all of the outstanding stock of Reinhold's parent company for approximately $133.0 million , net of $8.0 million of cash acquired, in a transaction carried out by means of a merger. The purchase price of this acquisition was paid in cash, principally using proceeds from the Company s revolving credit facility. Reinhold is a leading manufacturer of advanced niche components and complex composite assemblies for commercial aviation, defense and space applications. This acquisition is consistent with HEICO s practice of acquiring outstanding, niche designers and manufacturers of critical components in the aerospace and defense industries and will further enable the Company to broaden its product offerings, technologies and customer base. The following table summarizes the allocation of the purchase price of Reinhold to the estimated fair values of the tangible and identifiable intangible assets acquired and liabilities assumed (in thousands): Assets acquired: Goodwill $76,424 Identifiable intangible assets 66,500 Inventories 10,753 Accounts receivable 8,830 Property, plant and equipment 7,994 Other assets 2,756 Total assets acquired, excluding cash $173,257 Liabilities assumed: Deferred income taxes $25,613 Accrued expenses 6,994 Accounts payable 2,923 Defined benefit pension plan obligation, net 2,865 Accrued additional purchase consideration 1,499 Other liabilities 390 Total liabilities assumed $40,284 Net assets acquired, excluding cash $132,973 During fiscal 2014, the company recorded certain immaterial measurement period adjustments to the purchase price allocation of Reinhold, which are reflected in the table above. The primary items that generated the goodwill recognized were the premiums paid by the Company for the future earnings potential of Reinhold and the value of its assembled workforce that do not qualify for separ