XML 20 R6.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities    
Net Income (loss) $ 2,326 $ (3,957)
Adjustments to reconcile net income (loss) to net cash used in operating activities    
Depreciation and amortization of intangible assets and loan fees 3,091 2,522
Foreign exchange (gain) loss on liabilities   53
(Gain) Loss on disposition of property, plant, and equipment (34) (20)
Stock based compensation expense 1,544 698
Deferred tax adjustment 500 (1,067)
Contingent note revaluations (680) 141
Other non-cash activity 17 (334)
Changes in assets and liabilities    
Accounts receivable (20,444) (28,997)
Inventories (20,366) (27,238)
Prepaid expenses and other assets 21 16
Accounts payable 17,335 22,508
Accrued wages payable (1,150) (482)
Other accrued expenses (359) (2,274)
Net cash used in operating activities (18,199) (38,431)
Cash flows from investing activities    
Proceeds from disposition of property, plant, and equipment 47 57
Purchase of property, plant, and equipment (897) (2,224)
Business acquisitions (net of cash acquired)   (91,986)
Net cash used in investing activities (850) (94,153)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 134,134 162,278
Principal payments on long-term debt (125,717) (59,533)
Tax distributions to Continuing LLC Owners (1,378) (540)
Principal payments on capital lease obligations (371) (242)
Payment of deferred financing fees and debt discount (50) (2,613)
Exercise of options to purchase common stock 315  
Net cash provided by financing activities 6,933 99,350
Net change in cash and cash equivalents (12,116) (33,234)
Effect of exchange rate changes on cash and cash equivalents 123 52
Cash and cash equivalents, beginning of period 66,360 37,896
Cash and cash equivalents, end of period 54,367 4,714
Supplemental cash flow information    
Interest paid 2,146 831
Property, plant, and equipment acquired through accounts payable (51) (511)
Capital lease additions 210 34
Net change of deferred tax asset from step-up in basis 3,138 8,981
Income taxes paid 176 46
Accrued tax distribution $ 257 434
Non cash consideration - Contingent notes   6,900
Non cash consideration - Guarantee note   10,000
Non cash consideration - Issuance of Class B common stock and LLC Interests   $ 90,031