|12 Months Ended|
Dec. 31, 2020
18. SUBSEQUENT EVENTS
On January 20, 2021, we acquired LCR Contractors, a fireproofing and insulation company serving the Texas markets of Dallas, Austin, and Amarillo, as well as the Tennessee markets of Knoxville and Nashville. The acquisition was accounted for as a business combination under ASC 805, “Business Combinations.” The purchase price of approximately $53.8 million was funded by cash on hand. During the measurement period, we expect to receive additional detailed information to complete the purchase price allocation.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef