Construction Partners, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Business Acquisition (Tables)

Business Acquisition (Tables)

9 Months Ended

Jun. 30, 2018

Schedule of Provisional Allocation of the Purchase Price to Assets Acquired and Liabilities

The following presents the provisional allocation of the purchase price to assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, determined in accordance with the methodology described under Fair Value Measurements in Note 2 to the Company’s audited financial statements for the year ended September 30, 2017 (unaudited, in thousands):


Contracts receivable, including retainage	$	9,184
Costs and estimated earnings in excess of billings on uncompleted contracts		2,027
Inventory		4,323
Other current assets ⁽¹⁾		731
Property, plant and equipment
Land and improvements		7,302
Quarry reserves		13,986
Asphalt plants		6,917
Buildings		1,552
Construction equipment		17,571
Goodwill		3,798
Accounts payable		(3,646	)
Billings in excess of costs and estimated earnings on uncompleted contracts		(4,589	)
Current maturities of long-term debt		(388	)
Other current liabilities		(1,638	)
Due to seller		(4,940	)
Long-term debt, net of current maturities		(738	)
Other liabilities		(133	)

	$	51,319

⁽¹⁾

Other current assets excludes cash acquired

Proforma of Revenues and Net Income

The following presents pro forma revenues and net income as though the Scruggs Acquisition had occurred on October 1, 2016 (unaudited, in thousands):


	For the three months ended June 30,				For the nine months ended June 30,
	2018		2017		2018		2017
Revenues	$	206,924	$	173,663	$	519,735	$	450,484
Net income	$	15,379	$	8,775	$	40,653	$	20,582