Acquisitions Fiscal Year 2020 On May 10, 2019, the Company acquired substantially all of the assets of East Creek Corporation (d/b/a StainlessDrains.com), a manufacturer of stainless steel drains, grates and accessories for industrial and commercial end markets, for a cash purchase price of $24.8 million , excluding transaction costs and net of cash acquired. StainlessDrains.com, headquartered in Greenville, Texas, added complementary product lines to the Company's existing Water Management platform. The Company's results of operations include the acquired operations subsequent to the aforementioned acquisition date. Pro-forma results of operations and certain other U.S. GAAP disclosures related to this acquisition have not been presented because they are not significant to the Company's condensed consolidated statements of operations or financial position. The acquisition of StainlessDrains.com has been accounted for as a business combination and was recorded by allocating the purchase price to the fair value of assets acquired and liabilities assumed at the acquisition date. The excess of the purchase price over the fair value assigned to the assets acquired and liabilities assumed was recorded as goodwill. The preliminary purchase price allocation associated with this acquisition resulted in tax deductible goodwill of $13.9 million , other intangible assets of $6.8 million (including tradenames of $0.7 million and $6.1 million of customer relationships), $1.9 million of trade working capital and other net assets of $2.2 million . The Company is continuing to evaluate the initial purchase price allocation for StainlessDrains.com related to the fair values assigned to tangible and intangible assets and net working capital acquired, which will be completed within the one year period following its acquisition date. During the second quarter of fiscal 2020, the Company acquired the remaining non-controlling interest in a Process and Motion Control joint venture for a cash purchase price of $0.3 million . The acquisition of the remaining minority interest was not material to the Company's condensed consolidated statements of operations or financial position. Fiscal Year 2019 On January 23, 2019, the Company acquired an additional 47.5% interest in Centa MP (Hong Kong) Co., Limited ("Centa China"), a joint venture in which the Company previously maintained a 47.5% non-controlling interest, for $21.4 million , net of cash held by the former joint venture. Centa China, a manufacturer and distributor of premium flexible couplings and drive shafts for industrial, marine, rail and power generation applications within the Company's Process &amp; Motion Control platform, provides the Company with the opportunity to expand its product offerings within its Asia Pacific end markets. Prior to this transaction, the Company accounted for its non-controlling interest in Centa China as an equity method investment. The acquisition of the additional 47.5% interest was considered to be an acquisition achieved in stages, whereby the Company remeasured the previously held equity method investment to fair value. The Company considered multiple factors in determining the fair value of the previously held equity method investment, including: (i) the price negotiated with the selling shareholder for the 47.5% equity interest in Centa China, (ii) an income valuation model (discounted cash flow), and (iii) current trading multiples for comparable companies. Based on this analysis, during the fourth quarter of fiscal 2019, the Company recognized a $0.2 million gain on the remeasurement of the previously held equity method investment and a $1.8 million loss associated with the historical foreign currency translation adjustments associated with the equity method investment. The preliminary purchase price for this business combination is estimated as follows (in millions): Fair value of consideration transferred: Cash paid, net of cash acquired $ 21.4 Other items to be allocated to identifiable assets acquired and liabilities assumed Book value of investment in Centa China at the acquisition date 21.8 Gain recognized from step acquisition 0.2 Fair value of remaining non-controlling interest 2.3 Total $ 45.7 The Company allocated the preliminary purchase price to the fair value of assets acquired and liabilities assumed at the acquisition date. The excess of the acquisition purchase price over the fair value assigned to the assets acquired and liabilities assumed was recorded as goodwill. The preliminary purchase price allocation was adjusted during the first and second quarters of fiscal 2020, resulting in a reduction to goodwill of $0.3 million , primarily related to the refinement of the estimated fair value of intangible assets and other working capital acquired. As of September 30, 2019, the preliminary purchase price allocation associated with this acquisition resulted in non-tax deductible goodwill of $19.8 million , other intangible assets of $20.1 million (including tradenames of $1.3 million and $18.8 million of customer relationships), $8.0 million of trade working capital and other net liabilities of $2.2 million . The Company is continuing to evaluate the initial purchase price allocations primarily related to the finalization of the amount of net working capital acquired as well as the related income tax analysis for this acquisition, which will be completed within the one year period following the acquisition date. On September 24, 2018, the Company acquired certain assets associated with the design and distribution of various roof drains, spouts and flow sensors for institutional, commercial and industrial buildings for $2.0 million . The acquisition of these assets added complementary product lines to the Company's existing Water Management platform and was accounted for as a business combination. This acquisition did not materially affect the Company's condensed consolidated statements of operations or financial position. The Company's results of operations include the acquired operations subsequent to the respective acquisition dates. Pro-forma results of operations and certain other U.S. GAAP disclosures related to the fiscal 2020 and 2019 acquisitions have not been presented because they are not significant to the Company's condensed consolidated statements of operations or financial position.