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Related Parties
6 Months Ended
Jun. 30, 2018
Related Parties  
Related Parties

Note 15 – Related Parties

Opco had entered into management consulting services agreements with members of Holdco.  The services were related to financial transactions and other senior management matters related to business administration.  Those agreements provided for the Company to pay base annual management fees plus expenses, typically paid quarterly.  These expenses were recorded in general and administrative expenses in the condensed consolidated statement of operations.  The Company recorded $57 thousand and $112 thousand of expense for the three and six months ended June 30, 2017.  Upon consummation of the recapitalization and IPO transactions, these agreements were terminated. 

As discussed in Note 7– Income Taxes, the Company has accrued tax distributions that are payable to Continuing LLC Owners to facilitate the Continuing LLC Owners periodic estimated tax obligations.  At June 30, 2018, and December 31, 2017, the Company had an accrual of $706 thousand and $597 thousand, respectively, for estimated tax distributions, which are included in accounts payable on the condensed consolidated balance sheets.

The Company leases office and warehouse space from a company under common control of the Sellers, commencing on January 17, 2018. The Company incurred rent expenses of $89 thousand and $164 thousand in the three and six months ended June 30, 2018, respectively.