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Business Acquisitions (Tables)
12 Months Ended
Dec. 31, 2020
Business Acquisition [Line Items]  
Summary of Elements of Purchase Price of Acquisitions

The following table summarizes the elements of purchase price of the acquisitions completed during 2020:

 

 

 

Cash

 

 

Common

Stock

 

 

Other

Purchase

Price

Component

Current

 

 

Other

Purchase

Price

Component

Long Term

 

 

Contingent

Consideration

Current

 

 

Contingent

Consideration

Long Term

 

 

Total

Purchase

Price

 

CTEH

 

$

175,000

 

 

$

25,000

 

 

$

(1,939

)

 

$

 

 

$

34,451

 

 

$

10,543

 

 

$

243,055

 

All other acquisitions

 

 

450

 

 

 

 

 

 

50

 

 

 

100

 

 

 

210

 

 

 

 

 

 

810

 

 

 

$

175,450

 

 

$

25,000

 

 

$

(1,889

)

 

$

100

 

 

$

34,661

 

 

$

10,543

 

 

$

243,865

 

The following table summarizes the elements of purchase price of the 2019 acquisitions:

 

 

 

Cash

 

 

Common

Stock

 

 

Other

Purchase Price

Components

 

 

Contingent

Consideration

 

 

Total

Purchase

Price

 

ECT2

 

$

54,037

 

 

$

 

 

$

(220

)

 

$

 

 

$

53,817

 

All other acquisitions

 

 

33,248

 

 

 

4,047

 

 

 

1,670

 

 

 

5,401

 

 

 

44,366

 

 

 

$

87,285

 

 

$

4,047

 

 

$

1,450

 

 

$

5,401

 

 

$

98,183

 

 The following table summarizes the elements of purchase price of the 2018 acquisitions:

 

 

Cash

 

 

Common Stock

 

 

Other Purchase Price Components

 

 

Contingent Consideration

 

 

Total Purchase Price

 

SES

$

450

 

 

$

 

 

$

50

 

 

$

 

 

$

500

 

FA

 

1,096

 

 

 

 

 

 

360

 

 

 

372

 

 

 

1,828

 

AGC

 

7,400

 

 

 

925

 

 

 

95

 

 

 

871

 

 

 

9,291

 

Streamline

 

5,678

 

 

 

631

 

 

 

180

 

 

 

 

 

 

6,489

 

Leymaster

 

2,465

 

 

 

435

 

 

 

250

 

 

 

434

 

 

 

3,584

 

AES

 

21,877

 

 

 

2,028

 

 

 

(16

)

 

 

1,274

 

 

 

25,163

 

EPS

 

9,995

 

 

 

1,615

 

 

 

(71

)

 

 

 

 

 

11,539

 

Total

$

48,961

 

 

$

5,634

 

 

$

848

 

 

$

2,951

 

 

$

58,394

 

Summary of Purchase Price Attributable to Acquisitions

The purchase price attributable to the acquisitions was allocated as follows:

 

 

 

ECT2

 

 

All Other

Acquisitions

 

 

Total

 

Cash

 

$

3,149

 

 

$

2,137

 

 

$

5,286

 

Restricted cash

 

 

629

 

 

 

 

 

 

629

 

Accounts receivable

 

 

1,707

 

 

 

3,751

 

 

 

5,458

 

Other current assets

 

 

498

 

 

 

61

 

 

 

559

 

Current assets

 

 

5,983

 

 

 

5,949

 

 

 

11,932

 

Property and equipment

 

 

776

 

 

 

3,288

 

 

 

4,064

 

Customer relationships

 

 

13,840

 

 

 

12,748

 

 

 

26,588

 

Trade names

 

 

1,008

 

 

 

659

 

 

 

1,667

 

Covenants not to compete

 

 

3,360

 

 

 

2,083

 

 

 

5,443

 

Proprietary software

 

 

 

 

 

2,560

 

 

 

2,560

 

Patent

 

 

17,479

 

 

 

 

 

 

17,479

 

Goodwill

 

 

16,395

 

 

 

20,227

 

 

 

36,622

 

Total assets

 

 

58,841

 

 

 

47,514

 

 

 

106,355

 

Current liabilities

 

 

5,024

 

 

 

977

 

 

 

6,001

 

Non- current liabilities

 

 

 

 

 

2,171

 

 

 

2,171

 

Total liabilities

 

 

5,024

 

 

 

3,148

 

 

 

8,172

 

Purchase price

 

$

53,817

 

 

$

44,366

 

 

$

98,183

 

Summary of Supplemental Unaudited Pro-Forma Information The unaudited consolidated financial information summarized in the following table gives effect to the 2020, 2019, and 2018 acquisitions assuming they occurred on January 1, 2018. These unaudited consolidated pro forma operating results do not assume any impact from revenue, cost or other operating synergies that are expected as a result of the acquisitions. These unaudited consolidated pro forma operating results include the results from Discontinued Service Lines through the date of discontinuance. These unaudited consolidated pro forma operating results are presented for illustrative purposes only and arenot indicative of the operating results that would have been achieved had the acquisitions occurred on January 1, 2018, nor does the information project results for any future period.

 

 

 

As reported

 

 

Acquisitions

Pro-Forma

(Unaudited)

 

 

Consolidated

Pro-Forma

(Unaudited)

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

328,243

 

 

$

31,253

 

 

$

359,496

 

Net (loss) income

 

 

(57,949

)

 

 

10,288

 

 

 

(47,661

)

2019

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

233,854

 

 

 

135,565

 

 

 

369,419

 

Net (loss) income

 

 

(23,557

)

 

 

38,903

 

 

 

15,346

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

188,805

 

 

 

116,873

 

 

 

305,678

 

Net (loss) income

 

 

(16,491

)

 

 

24,486

 

 

 

7,995

 

 

CTEH  
Business Acquisition [Line Items]  
Summary of Purchase Price Attributable to Acquisitions

The purchase price attributable to the acquisitions was allocated as follows:

 

 

 

CTEH

 

 

All Other

Acquisitions

 

 

Total

 

Cash

 

$

1,527

 

 

$

 

 

$

1,527

 

Accounts receivable

 

 

17,059

 

 

 

 

 

 

17,059

 

Other current assets

 

 

1,265

 

 

 

 

 

 

1,265

 

Current assets

 

 

19,851

 

 

 

 

 

 

19,851

 

Property and equipment

 

 

7,042

 

 

 

75

 

 

 

7,117

 

Customer relationships

 

 

56,000

 

 

 

 

 

 

56,000

 

Trade names

 

 

4,200

 

 

 

 

 

 

4,200

 

Covenants not to compete

 

 

4,000

 

 

 

109

 

 

 

4,109

 

Proprietary software

 

 

14,700

 

 

 

 

 

 

14,700

 

Goodwill

 

 

146,983

 

 

 

626

 

 

 

147,609

 

Total assets

 

 

252,776

 

 

 

810

 

 

 

253,586

 

Current liabilities

 

 

9,721

 

 

 

 

 

 

9,721

 

Total liabilities

 

 

9,721

 

 

 

 

 

 

9,721

 

Purchase price

 

$

243,055

 

 

$

810

 

 

$

243,865