Business Combinations (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
|---|
| 2023 Acquisitions |
|
| Business Combinations |
|
| Schedule of fair value of assets and liabilities assumed |
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2023 Acquisitions |
Purchase price fair values: |
|
SRI |
|
Best |
|
All Others |
|
Totals |
Accounts receivable |
|
$ |
5,531 |
|
$ |
7,537 |
|
$ |
968 |
|
$ |
14,036 |
Inventories |
|
|
4,383 |
|
|
2,132 |
|
|
602 |
|
|
7,117 |
Prepaid and other assets |
|
|
158 |
|
|
43 |
|
|
— |
|
|
201 |
Property and equipment |
|
|
4,623 |
|
|
5,518 |
|
|
419 |
|
|
10,560 |
ROU asset (operating) |
|
|
4,695 |
|
|
3,441 |
|
|
412 |
|
|
8,548 |
Intangible assets |
|
|
13,740 |
|
|
30,470 |
|
|
2,948 |
|
|
47,158 |
Goodwill |
|
|
23,132 |
|
|
51,463 |
|
|
4,556 |
|
|
79,151 |
Accounts payable |
|
|
(6,078) |
|
|
(2,623) |
|
|
(342) |
|
|
(9,043) |
Lease liabilities (operating) |
|
|
(4,775) |
|
|
(3,241) |
|
|
(413) |
|
|
(8,429) |
All other liabilities |
|
|
(95) |
|
|
(150) |
|
|
— |
|
|
(245) |
Net assets acquired |
|
$ |
45,314 |
|
$ |
94,590 |
|
$ |
9,150 |
|
$ |
149,054 |
|
| Schedule of estimates of acquired intangible assets related to the acquisition |
|
|
|
|
|
|
|
|
|
Estimated Fair Value |
|
Weighted Average Estimated Useful Life (Years) |
Customer relationships |
|
$ |
42,948 |
|
|
12 |
Trademarks and trade names |
|
|
4,010 |
|
|
10 |
Non-compete agreements |
|
|
200 |
|
|
5 |
Total intangible assets acquired |
|
$ |
47,158 |
|
|
12 |
|
| Summary of businesses acquired |
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2023 Acquisitions |
|
Date |
|
Cash Paid |
|
Goodwill Acquired |
|
Net Sales |
|
Net Income |
SRI |
|
|
1/26/2023 |
|
$ |
45,314 |
|
$ |
23,132 |
|
$ |
62,458 |
|
$ |
4,229 |
Best |
|
|
7/17/2023 |
|
|
94,590 |
|
|
51,463 |
|
|
39,386 |
|
|
1,820 |
All others |
|
|
Various |
|
|
9,150 |
|
|
4,556 |
|
|
3,319 |
|
|
4 |
Total |
|
|
|
|
$ |
149,054 |
|
$ |
79,151 |
|
$ |
105,163 |
|
$ |
6,053 |
|
| 2022 Acquisitions |
|
| Business Combinations |
|
| Summary of businesses acquired |
|
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2022 Acquisitions |
|
Date |
|
Cash Paid |
|
Contingent Consideration |
|
Total Purchase Price |
|
Goodwill Acquired |
Billings |
|
|
2/3/2022 |
|
$ |
7,005 |
|
$ |
— |
|
$ |
7,005 |
|
$ |
3,313 |
Assured |
|
|
4/7/2022 |
|
|
4,719 |
|
|
600 |
|
|
5,319 |
|
|
3,406 |
All others |
|
|
Various |
|
|
3,257 |
|
|
— |
|
|
3,257 |
|
|
1,726 |
Total |
|
|
|
|
$ |
14,981 |
|
$ |
600 |
|
$ |
15,581 |
|
$ |
8,445 |
|