XML 55 R29.htm IDEA: XBRL DOCUMENT v3.23.1
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2022
Bonaccord  
Business Acquisition [Line Items]  
Summary of the Consideration Paid

The following is a summary of consideration paid:

 

 

 

Fair Value

 

Cash

 

$

38,927

 

Contingent consideration

 

 

17,435

 

Total purchase consideration

 

$

56,362

 

 

Summary of Fair Value of the Net Assets Acquired as of the Acquisition Date

The following table presents the fair value of the net assets acquired as of the acquisition date:

 

 

 

Fair Value

 

ASSETS

 

 

 

Prepaid expenses and other assets

 

 

9

 

Investment in partnership

 

 

1,396

 

Intangible assets

 

 

12,940

 

Total assets acquired

 

$

14,345

 

LIABILITIES

 

 

 

Accrued expenses

 

$

919

 

Total liabilities assumed

 

$

919

 

 

 

 

 

Net identifiable assets acquired

 

$

13,426

 

Goodwill

 

 

42,936

 

Net assets acquired

 

$

56,362

 

 

Summary of the Fair Value of Identifiable Intangible Assets Acquired

The following table presents the fair value of the identifiable intangible assets acquired:

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

 

 

Amortization

 

 

Fair Value

 

 

Period

Value of management and advisory contracts

 

$

9,450

 

 

8

Value of trade name

 

 

3,490

 

 

10

Total identifiable intangible assets

 

$

12,940

 

 

 

Summary of Unaudited Pro Forma Condensed Consolidated Results of Operations Attributable to the Acquisitions

The following unaudited pro forma condensed consolidated results of operations of the Company assumes the acquisition of Bonaccord was completed on January 1, 2020:

 

 

 

For the Year
Ended December 31,

 

 

 

 

 

 

 

2021

 

 

2020

 

 

 

 

 

 

 

 

Revenue

 

$

169,728

 

 

$

74,864

 

 

 

 

 

 

 

 

Net income attributable to P10

 

 

12,834

 

 

 

19,915

 

Westech Investment Advisors LLC  
Business Acquisition [Line Items]  
Summary of the Consideration Paid

The following is a summary of consideration paid:

 

 

Fair Value

 

Cash

 

$

105,262

 

Fair value of equity consideration

 

 

40,733

 

Total purchase consideration

 

$

145,995

 

Summary of Fair Value of the Net Assets Acquired as of the Acquisition Date

The following table presents the provisional fair value of the net assets acquired as of the acquisition date:

 

 

 

Fair Value

 

ASSETS

 

 

 

Cash and cash equivalents

 

 

8,807

 

Accounts receivable

 

 

12,632

 

Right-of-use assets

 

 

2,904

 

Prepaid expenses and other assets

 

 

378

 

Property and equipment

 

 

138

 

Intangible assets, net

 

 

49,700

 

Total assets acquired

 

$

74,559

 

LIABILITIES

 

 

 

Accounts payable and accrued expenses

 

$

13,555

 

Lease liabilities

 

$

2,957

 

Total liabilities assumed

 

$

16,512

 

 

 

 

 

Net identifiable assets acquired

 

$

58,047

 

Goodwill

 

 

87,948

 

Net assets acquired

 

$

145,995

 

 

Summary of the Fair Value of Identifiable Intangible Assets Acquired

The following table presents the provisional fair value of the identifiable intangible assets acquired:

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

 

 

Amortization

 

 

Fair Value

 

 

Period

Value of management and advisory contracts

 

$

42,900

 

 

9

Value of trade name

 

 

6,800

 

 

10

Total identifiable intangible assets

 

$

49,700

 

 

 

Summary of Unaudited Pro Forma Condensed Consolidated Results of Operations Attributable to the Acquisitions

The following unaudited pro forma condensed consolidated results of operations of the Company assumes the acquisition of WTI was completed on January 1, 2021:

 

 

 

For the Year
Ended December 31,

 

 

 

 

 

 

 

2022

 

 

2021

 

 

 

 

 

 

 

 

Revenue

 

$

224,500

 

 

$

182,446

 

Net income attributable to P10

 

 

24,513

 

 

 

6,044