How much did Amerispec Inspection Services spend on acquisitions in 2023 as restated?
Amerispec_Inspection_Services Franchise · 2025 FDDAnswer from 2025 FDD Document
g capital receivable balance. The provisional measurements are subject to change and such changes could be significant.
Transaction related costs of $467,000 were paid and included as operating expenses in the consolidated statements of comprehensive loss for the year ended December 31, 2024.
2023 Transaction, As Restated
As discussed in Note 1, the Company purchased all the membership interests in the Operating Company in conjunction with the Transaction on March 31, 2023. The total purchase price was approximately $25,646,000, which was funded by equity contributions.
The Transaction was recorded in accordance with ASC 805: Business Combinations, except for as described in Note 2 related to the separately identifiable intangible assets. Accordingly, the Company has recorded all assets acquired and liabilities assumed at the acquisition date fair values with any excess recognized as goodwill. The purchase price allocation process was complete as of December 31, 2023.
Source: Item 23 — Receipts (FDD pages 47–172)
What This Means (2025 FDD)
According to Amerispec Inspection Services's 2025 Franchise Disclosure Document, the company's acquisition activity in 2023 involved the purchase of all membership interests in an Operating Company on March 31, 2023. The total purchase price for this transaction was approximately $25,646,000, which was funded by equity contributions. This acquisition was recorded following ASC 805: Business Combinations guidelines.
The purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values at the time of acquisition. The fair value of assets acquired includes receivables with a fair value of $640,604. The document specifies that the purchase price allocation process was completed as of December 31, 2023.
Transaction-related costs of $467,000 were paid and included as operating expenses in the consolidated statements of comprehensive loss for the year ended December 31, 2024. Goodwill, representing the excess of the purchase price over allocated values, includes customer relationships and the potential for future profits.