Subsequent Event

6 Months Ended

Jun. 30, 2020

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

Con-e-Co Acquisition — The Company entered into a Stock Purchase Agreement, dated as of July 20, 2020, by and between Oshkosh Corporation — (“Oshkosh”) for the purchase of the Con-e-Co concrete equipment company in Nebraska for the purchase price of $13.7 million after adjustments and was paid in cash. The purchase was consummated on July 20, 2020. The Company has not yet completed their business combination purchase price analysis. The Company expects goodwill, if any, to be nondeductible for income tax purposes. The results of operations will be included from the date of acquisition.

BMH Systems Acquisition — The Company entered into a Share Purchase Agreement, dated as of August 3, 2020, by and between BMH Systems — for the purchase of the concrete equipment company in Montreal, Canada. The purchase was $15.7 million after adjustments and was paid in cash. The purchase was consummated on August 3, 2020. The Company has not yet completed their business combination purchase price analysis. The Company expects goodwill, if any, to be nondeductible for income tax purposes. The results of operations will be included from the date of acquisition.