Related Party Transactions

12 Months Ended

Dec. 31, 2024

Related Party Transactions [Abstract]

Related Party Transactions

Note 17 — Related Party Transactions

The Company has entered into related party transactions with entities associated with, and under control of, the selling owners of Founding Companies and other businesses acquired by the Company (see Note 3). Management believes these transactions were conducted on terms equivalent to those prevailing in an arm’s-length transaction. See below for a description of transactions with related parties.

Leases from Related Parties

Certain officers, employees of the Company, and selling owners of Founding companies are lessors of real property to the company for Office space. Total Lease liability and rent paid at December 31, 2024 (Successor) was $10,813,041 and $1,461,661, respectively. We had no related party leases for the Predecessor for the period January 1, 2024 to May 12, 2024, the period ending December 31, 2023, or the period ending December 31, 2022:

The following table is a schedule of future payments at December 31, 2024:

2025	$	2,441,006
2026		1,808,746
2027		1,439,044
2028		1,493,007
2029 and thereafter		6,787,192
Total undiscounted cash payments		13,968,995

Other Transactions with Related Parties

At December 31, 2024, we had debt with a related party of $1,073,635 recorded on our consolidated balance sheet. The debt bears an interest rate of 6% and matures in April 2028. Our recurring monthly principal and interest payments are $29,681.

In agreement with our Deluxe purchase price agreement, we have agreed to pay the sellers the collateral insurance deposit of $2,241,923 associated with their cargo captive once returned from the insurance provider. This amount is expected to be received in 2026 and is long term liabilities on the consolidated balance sheet.