Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

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Acquisitions (Tables) - Cortina Asset Management, LLC
 12 Months Ended
Dec. 31, 2021
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 Preliminarily Allocated to Acquired Assets and Assumed Liabilities

The following table summarizes the amounts preliminarily allocated to acquired assets and assumed liabilities. The excess of the purchase price over the estimated 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

Year Ended

December 31, 2019

 

Revenue

$

108,345

 

Net Income

$

15,990