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Related-Party Transactions
12 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]  
Related-Party Transactions Related-Party Transactions
Tax Overpayment/Underpayment Amount

In connection with the Business Combination, the Shay Stockholders are entitled to a payment of the net cash savings in U.S. federal, state and local income tax that the post-closing company
actually realizes (or is deemed to realize in certain circumstances) in periods after the Closing Date. The liability for this estimated payment and the corresponding charge to equity of $4.7 million are reflected in the Company’s consolidated balance sheets as of December 31, 2020.


Advisory Services

During the year ended December 31, 2020, December 31, 2019 and December 31, 2018, the Company recognized management fees, transaction and advisory fees, and related expenses of approximately $15.8 million, $5.1 million, and $5.0 million, respectively. As a result of the Business Combination $15.0 million was grouped with other similar transactional expenses and recorded as a reduction to the recapitalized equity and $0.8 million was recorded in selling, general and administrative expenses for the period ended December 31, 2020. The amount of $5.1 million and $5.0 million were recorded in selling, general and administrative expenses for the period ended December 31, 2019 and December 31, 2018, respectively.

These expenses were for services rendered by one or more affiliates of Platinum Equity, LLC.