Subsequent Events |
3 Months Ended |
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Mar. 31, 2021 | |
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16. SUBSEQUENT EVENTS On April 5, 2021, we acquired ABS, a residential insulation and distribution business that primarily services the eastern United States. The acquisition was accounted for as a business combination under ASC 805, “Business Combinations.” The purchase price of approximately $126.2 million was funded by cash on hand. During the measurement period, we expect to receive additional detailed information to complete the purchase price allocation. On April 7, 2021, we acquired Creative, a residential and light commercial insulation company serving customers in Richmond, Charlottesville, Roanoke and Northern Virginia. The acquisition was accounted for as a business combination under ASC 805, “Business Combinations.” The purchase price of approximately $6.8 million was funded by cash on hand. During the measurement period, we expect to receive additional detailed information to complete the purchase price allocation. |
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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