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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net (loss) income $ (552) $ 5,343
Adjustments to reconcile net (loss) income to net cash used in operating activities    
Depreciation and amortization of intangible assets and loan fees 11,005 8,927
Foreign exchange loss on liabilities   16
Loss on disposition of property, plant, and equipment (25) (41)
Stock based compensation expense 4,747 2,678
Deferred tax adjustment 37 761
Contingent note revaluations 3,090 250
Other non-cash activity 146 (334)
Changes in assets and liabilities    
Accounts receivable (41,684) (23,299)
Inventories 12,137 (24,745)
Other assets 1,368 3,681
Accounts payable 1,026 11,182
Accrued wages payable 2,401 942
Other accrued expenses (2,299) 1,291
Net cash used in operating activities (8,603) (13,348)
Cash flows from investing activities    
Proceeds from disposition of property, plant, and equipment 70 108
Purchase of property, plant, and equipment (5,128) (6,128)
Business acquisitions (net of cash acquired) (185,090) (92,083)
Net cash used in investing activities (190,148) (98,103)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 661,084 427,778
Principal payments on long-term debt (511,681) (346,137)
Tax Distributions to LLC Owners (1,641) (1,455)
Principal payments on finance lease obligations (1,103) (861)
Payment of deferred financing fees and debt discount (5,362) (2,675)
Exercise of options to purchase common stock 1,588 1,429
Net cash provided by financing activities 142,885 78,079
Net change in cash and cash equivalents (55,866) (33,372)
Effect of exchange rate changes on cash and cash equivalents (39) (42)
Cash and cash equivalents, beginning of period 66,360 37,896
Cash and cash equivalents, end of period 10,455 4,482
Supplemental cash flow information    
Interest paid 9,472 5,129
Net change in property, plant, and equipment acquired through accounts payable (380) 25
Finance lease additions 535 34
Net change of deferred tax asset from step-up in basis 9,517 35,621
Income taxes paid 216 491
Accrued tax distribution $ 103 844
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