Related Party Transactions

6 Months Ended

Jun. 30, 2016

Related Party Transactions [Abstract]

Related party transactions

11. Related Party Transactions

The Company has an advisory agreement with HCI Equity Management L.P. (“HCI”) that requires the Company to pay transaction fees and an annual advisory fee of $0.1 million. The Company paid an aggregate of $0.2 million to HCI for advisory fees and travel expenses during the three and six months ended June 30, 2016. The Company paid an aggregate of $0.1 million during the three and six months ended June 30, 2015 to HCI for the advisory fee and travel expenses incurred.

The Company has a number of facility leases with related parties and paid an aggregate of $0.6 million and $0.1 million under these leases during the three months ended June 30, 2016 and 2015, respectively. The Company paid an aggregate of $1.2 million and $0.3 million under these leases during the six months ended June 30, 2016 and 2015, respectively.

During the quarter ended June 30, 2016, the Company entered into and completed a sale leaseback transaction to sell the Stagecoach corporate office to an entity owned by one of the former owners of Stagecoach for a total sale price of $3.5 million. The Company recognized a gain of $0.9 million on the sale of the property, which is recorded in other operating expenses for the three and six months ended June 30, 2016.