BUSINESS COMBINATION AND ACQUISITIONS (Tables)

9 Months Ended

Sep. 26, 2021

Business Acquisition [Line Items]

Summary of reconciles elements of business combination to cash flows

The following table reconciles the elements of the Business Combination to the condensed consolidated statements of cash flows for the 39-week period ended September 26, 2021:

	Recapitalization
Cash - Empower's trust and cash (net of redemptions of $99,353 and    transaction costs of $44,314)	$	107,042
Cash - Forward Purchase Agreement		50,000
Cash - PIPE Financing		240,000
Net cash provided by Business Combination and PIPE Financing		397,042
Less: cash consideration paid to Holley Stockholder		(264,718	)
Net contributions from Business Combination and PIPE Financing	$	132,324

Drake Automotive Group LLC [Member]

Business Acquisition [Line Items]

Summary of Purchase price allocation of assets acquired and liabilities assumed

The allocation of the purchase price to the assets acquired and liabilities assumed was based on estimates of the fair value of the net assets as follows:

Cash	$	205
Accounts receivable		3,947
Inventory		14,198
Property, plant and equipment		1,296
Other assets		189
Tradenames		7,715
Customer relationships		17,175
Goodwill		7,551
Accounts payable		(2,524	)
Accrued liabilities		(648	)
	$	49,104

Simpson Performance Products, Inc. [Member]

Business Acquisition [Line Items]

Summary of Purchase price allocation of assets acquired and liabilities assumed

The allocation of the purchase price to the assets acquired and liabilities assumed was based on estimates of the fair value of the net assets as follows:

	November 16, 2020 (as initially reported)			Measurement Period Adjustments			November 16, 2020 (as adjusted)
Cash	$	7,715		$	—		$	7,715
Accounts receivable		3,894			—			3,894
Inventory		19,265			(770	)		18,495
Property, plant and equipment		5,952			—			5,952
Other assets		1,613			—			1,613
Tradenames		23,980			—			23,980
Customer relationships		28,770			—			28,770
Patents		2,720			—			2,720
Goodwill		51,305			843			52,148
Accounts payable		(2,483	)		—			(2,483	)
Accrued liabilities		(7,787	)		—			(7,787	)
Deferred tax liability		(12,993	)		—			(12,993	)
Debt		(4,615	)		—			(4,615	)
	$	117,336		$	73		$	117,409

Detroit Speed, Inc. [Member]

Business Acquisition [Line Items]

Summary of Purchase price allocation of assets acquired and liabilities assumed

The allocation of the purchase price to the assets acquired and liabilities assumed was based on estimates of the fair value of the net assets as follows:

Cash	$	1,784
Accounts receivable		418
Inventory		3,478
Property, plant and equipment		3,040
Other assets		215
Tradenames		1,127
Customer relationships		560
Goodwill		2,636
Accounts payable		(668	)
Accrued liabilities		(1,019	)
Deferred tax liability		(274	)
	$	11,297

Advance Engine Management Inc. [Member]

Business Acquisition [Line Items]

Summary of Purchase price allocation of assets acquired and liabilities assumed

The allocation of the purchase price to the assets acquired and liabilities assumed was based on estimates of the fair value of the net assets as follows:

	April 14, 2021 (as initially reported)			Measurement Period Adjustments			April 14, 2021 (as adjusted)
Accounts receivable	$	3,454		$	(61	)	$	3,393
Inventory		3,892			—			3,892
Property, plant and equipment		1,342			—			1,342
Other assets		493			(91	)		402
Tradenames		10,760			—			10,760
Customer relationships		14,640			—			14,640
Patents		1,970			—			1,970
Technology intangibles		110			—			110
Goodwill		17,426			(420	)		17,006
Accounts payable		(2,032	)		110			(1,922	)
Accrued liabilities		(489	)		139			(350	)
	$	51,566		$	(323	)	$	51,243

Summary of pro forma information

The following table provides the unaudited consolidated pro forma results for the periods presented as if AEM had been acquired as of January 1, 2020.

	For the thirteen weeks ended					For the thirty-nine weeks ended
	September 26, 2021			September 27, 2020		September 26, 2021			September 27, 2020
Pro forma net sales	$	159,673		$	140,195	$	521,836		$	384,237
Pro forma net income		(30,200	)		15,045		(6,906	)		33,195