| Schedule of Acquired Assets and Assumed Liabilities |
The following table reconciles the fair value of the acquired assets and assumed liabilities to the finalized total purchase price of the STFS acquisition:
|
|
|
|
|
|
Accounts receivable |
|
$ |
3,975 |
|
Inventory |
|
7,820 |
|
Property and equipment |
|
16,281 |
|
Goodwill |
|
9,045 |
|
Customer relationships |
|
13,500 |
|
Other non-current assets |
|
6 |
|
Total assets acquired |
|
50,627 |
|
Less: |
|
|
Liabilities assumed |
|
(3,288 |
) |
Total purchase price |
|
$ |
47,339 |
|
The following table reconciles the fair value of the acquired assets and assumed liabilities to the finalized total purchase price of the Resharp acquisition:
|
|
|
|
|
|
Property and equipment |
|
218 |
|
Goodwill |
|
9,382 |
|
Technology |
|
11,500 |
|
Total assets acquired |
|
21,100 |
|
Less: |
|
|
Contingent consideration payable |
|
(18,100 |
) |
Net cash paid |
|
$ |
3,000 |
|
The following table reconciles the fair value of the acquired assets and assumed liabilities to the finalized total purchase price of the Big Time acquisition:
|
|
|
|
|
|
Cash |
|
$ |
2,507 |
|
Accounts receivable |
|
40,828 |
|
Inventory |
|
40,216 |
|
Other current assets |
|
1,623 |
|
Property and equipment |
|
3,703 |
|
Goodwill |
|
130,863 |
|
Customer Relationships |
|
189,000 |
|
Trade names |
|
21,000 |
|
Other non-current assets |
|
159 |
|
Total assets acquired |
|
429,899 |
|
Less: |
|
|
Liabilities assumed |
|
(81,065 |
) |
Total purchase price |
|
$ |
348,834 |
|
The following table reconciles the fair value of the acquired assets and assumed liabilities to the finalized total purchase price of the MinuteKey acquisition:
|
|
|
|
|
|
Cash |
|
$ |
1,791 |
|
Inventory |
|
3,952 |
|
Other current assets |
|
766 |
|
Property and equipment |
|
29,888 |
|
Goodwill |
|
59,237 |
|
Customer relationships |
|
50,000 |
|
Developed technology |
|
19,000 |
|
Trade names |
|
5,400 |
|
Other non-current assets |
|
16 |
|
Total assets acquired |
|
170,050 |
|
Less: |
|
|
Liabilities assumed |
|
(13,761 |
) |
Total purchase price |
|
$ |
156,289 |
|
|
| Summary of Pro Forma Information |
The following table provides unaudited pro forma results of the combined entities of Hillman and Big Time, had the acquisition occurred at the beginning of fiscal 2017:
|
|
|
|
|
|
|
|
|
|
(Unaudited)
Fiscal Year-ended
|
|
2018 |
|
2017 |
Net revenues |
$ |
1,139,562 |
|
|
$ |
1,045,447 |
|
Net earnings (loss) |
$ |
(74,976 |
) |
|
$ |
52,010 |
|
|