Company: UFPT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001171843-25-005268
Chunk: 2

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 2
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 December 31, 2024, and 2025. As of the opening balance sheet the contingent consideration had a fair value of approximately $400 thousand. The purchase price was subject to an adjustment based upon Marble’s estimated working capital at closing, which resulted in an increase of approximately $100 thousand. A portion of the purchase price is being held by the Company to indemnify the Company against certain claims, losses, and liabilities. The Stock Purchase Agreement contains customary representations, warranties, and covenants customary for transactions of this type.

Founded in 1988 and headquartered in Tallahassee, FL, Marble develops and manufactures adhesive based medical components and single-use devices. The purchase price includes certain real estate, which encompasses Marble’s manufacturing, warehouse and office facilities. Marble enhances the Company’s adhesives expertise as well as precision die cutting capabilities.

The following table summarizes the allocation of the total purchase price of approximately $5.0 million, net of cash acquired, to the acquisition date fair value of the assets acquired and liabilities assumed based on management’s estimates of fair value (in thousands):

			Purchase Price Allocation

			Cash

			$
			815

			Accounts receivable

			872

			Inventory

			494

			Other current assets

			24

			Property, plant, and equipment

			1,018

			Customer lists

			250

			Intellectual property

			300

			Non-compete agreement

			50

			Goodwill

			2,559

			Total assets acquired

			6,382

			Accounts payable

			(41
			)

			Accrued expenses

			(519
			)

			Total liabilities assumed

			(560
			)

			Total assets acquired, net of liabilities assumed

			5,822

			Less: cash acquired

			(815
			)

			Purchase price, net of cash acquired

			$
			5,007

Acquisition costs associated with the transaction of approximately $146 thousand were charged to expense during the six months ended June 30, 2024. These costs were primarily for legal services, which are included within “Acquisition costs” on the face of the Condensed Consolidated Statements of Comprehensive Income.

100% of the goodwill related to the Marble acquisition is expected to be deductible for tax purposes. The goodwill is attributable to the workforce