Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.19.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 1 Months Ended 5 Months Ended 6 Months Ended
Dec. 05, 2018
Apr. 30, 2019
Apr. 30, 2018
Net income $ (22,575,000) $ (13,275,000) $ 22,168,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation   8,668,000  
Deferred income taxes   475,000  
Amortization of deferred financing costs   1,832,000  
Write off deferred debt issuance costs    
Prepayment penalty on early extinguishment of debt    
Amortization of debt premium    
Amortization of intangible assets 700,000 11,838,000 3,800,000
Stock-based compensation expense   361,000  
(Gain) on the sale of property, plant and equipment   (137,000)  
Net changes in operating assets and liabilities (net of acquisitions):      
Trade receivables, net   1,235,000  
Inventory   147,000  
Prepaid expenses and other current assets   (2,869,000)  
Income taxes payable, net   1,836,000  
Accounts payable   (7,850,000)  
Accrued payroll, accrued expenses and other current liabilities   (6,351,000)  
Net cash provided by (used in) operating activities   (4,090,000)  
Cash flows from investing activities:      
Purchases of property, plant and equipment   (25,007,000)  
Proceeds from sale of property, plant and equipment   1,031,000  
Cash withdrawn from Industrea Trust Account   238,474,000  
Net cash (used in) investing activities   (237,193,000)  
Cash flows from financing activities:      
Proceeds on long term debt   357,000,000  
Payments on long term debt   (4,463,000)  
Proceeds on revolving loan   73,659,000  
Payments on revolving loan   (41,810,000)  
Redemption of common shares   (231,415,000)  
Payment of debt issuance costs   (21,049,000)  
Payments on capital lease obligations   (34,000)  
Issuance of preferred shares   25,000,000  
Payment of underwriting fees   (8,050,000)  
Issuance of common shares   96,901,000  
Proceeds on exercise of rollover incentive options   1,370,000  
Net cash provided by (used in) financing activities   247,109,000  
Effect of foreign currency exchange rate on cash   (2,894,000)  
Net increase (decrease) in cash   2,932,000  
Beginning of period   4,000  
End of period 4,000 2,936,000  
Supplemental cash flow information:      
Cash paid for interest   11,081,000  
Cash paid (refunded) for income taxes   265,000  
Non-cash investing and financing activities:      
Fair value of rollover equity for Business Combination   164,909,000  
Equipment purchases included in accrued expenses   4,679,000  
Shares issued to acquire a business   1,150,000  
Holdbacks related to the acquisition of a business   181,000  
CPH Acquisition [Member]      
Cash flows from investing activities:      
Acquisition of net assets, net of cash acquired   (449,434,000)  
Atlas Acquisition [Member]      
Cash flows from investing activities:      
Acquisition of net assets, net of cash acquired   (2,257,000)  
O’Brien Acquisition [Member]      
Cash flows from investing activities:      
Acquisition of net assets, net of cash acquired    
Previous Accounting Guidance [Member]      
Net income (22,575,000)   22,168,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 2,060,000   8,259,000
Deferred income taxes (4,355,000)   (12,452,000)
Amortization of deferred financing costs 152,000   684,000
Write off deferred debt issuance costs 3,390,000  
Prepayment penalty on early extinguishment of debt 13,004,000  
Amortization of debt premium (11,000)   (5,000)
Amortization of intangible assets 653,000   3,829,000
Stock-based compensation expense 27,000   187,000
(Gain) on the sale of property, plant and equipment (166,000)   (2,061,000)
Net changes in operating assets and liabilities (net of acquisitions):      
Trade receivables, net 485,000   (108,000)
Inventory (294,000)   (514,000)
Prepaid expenses and other current assets (1,283,000)   (823,000)
Income taxes payable, net 203,000   (845,000)
Accounts payable (654,000)   (2,049,000)
Accrued payroll, accrued expenses and other current liabilities 17,280,000   (3,119,000)
Net cash provided by (used in) operating activities 7,916,000   13,151,000
Cash flows from investing activities:      
Purchases of property, plant and equipment (503,000)   (10,324,000)
Proceeds from sale of property, plant and equipment 364,000   2,149,000
Cash withdrawn from Industrea Trust Account  
Net cash (used in) investing activities (139,000)   (29,175,000)
Cash flows from financing activities:      
Proceeds on long term debt   15,600,000
Payments on long term debt  
Proceeds on revolving loan 4,693,000   89,460,000
Payments on revolving loan (20,056,000)   (93,521,000)
Redemption of common shares  
Payment of debt issuance costs  
Payments on capital lease obligations (7,000)   (86,000)
Issuance of preferred shares  
Payment of underwriting fees  
Issuance of common shares  
Proceeds on exercise of rollover incentive options  
Net cash provided by (used in) financing activities (15,370,000)   11,453,000
Effect of foreign currency exchange rate on cash (70,000)   1,535,000
Net increase (decrease) in cash (7,663,000)   (3,036,000)
Beginning of period 8,621,000 $ 958,000 6,925,000
End of period 958,000   3,889,000
Supplemental cash flow information:      
Cash paid for interest 201,000   10,481,000
Cash paid (refunded) for income taxes   (24,000)
Non-cash investing and financing activities:      
Fair value of rollover equity for Business Combination  
Equipment purchases included in accrued expenses   2,340,000
Shares issued to acquire a business  
Holdbacks related to the acquisition of a business  
Previous Accounting Guidance [Member] | CPH Acquisition [Member]      
Cash flows from investing activities:      
Acquisition of net assets, net of cash acquired  
Previous Accounting Guidance [Member] | Atlas Acquisition [Member]      
Cash flows from investing activities:      
Acquisition of net assets, net of cash acquired  
Previous Accounting Guidance [Member] | O’Brien Acquisition [Member]      
Cash flows from investing activities:      
Acquisition of net assets, net of cash acquired   $ (21,000,000)