Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.20.2
Acquisitions (Tables) - Cortina Asset Management, LLC
 6 Months Ended
Jun. 30, 2020
Business Acquisition [Line Items]  
Summary of Total Purchase Consideration

Cash paid on date of acquisition

$

17,072

Term loan with City National Bank drawdown

 

      18,000

Units issued

 

8,952

Contingent consideration

 

13,800

Total purchase consideration

$

57,824
Summary of Amounts Allocated to Acquired Assets and Assumed Liabilities

The following table summarizes the amounts allocated to acquired assets and assumed liabilities.  The excess of the purchase price over the fair values of the assets acquired and liabilities assumed was allocated to goodwill and intangible assets.

 

Total fair value of tangible assets acquired and liabilities assumed

 

$

 

—

Goodwill

 

36,324

Customer relationships (15 years)

 

21,500

Total purchase consideration

$

57,824
Summary of Pro Forma Information

The pro forma information below represents consolidated results of operations as if the acquisition of Cortina occurred on January 1, 2019. The pro forma information has been included for comparative purposes and is not indicative of results of operations of the Company had the acquisitions occurred as of January 1, 2019, nor is it necessarily indicative of future results.

 

 

Pro Forma

Six Months Ended

June 30, 2019

Revenue

$     52,662

Net Income

$       6,974