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Related Party Transactions
6 Months Ended
Jun. 30, 2016
Related Party Transactions  
Related Party Transactions

11. Related Party Transactions

The Company was charged an annual management fee that was payable quarterly to its majority shareholder, Vestar Capital Partners, LLC (“Vestar”). The management agreement was terminated and the annual management fee was no longer required after the effective date of the IPO. The Company incurred management fees of $0 and $267,000 for the three months ended June 30, 2016 and 2015, respectively, and $0 and $553,000 for the six months ended June 30, 2016 and 2015, respectively.  

In connection with the IPO, the Company paid a one-time transaction advisory fee to Vestar of $8.5 million. This fee was reflected as a distribution payment on the condensed consolidated statement of cash flows for the six months ended June 30, 2015.