The following table summarizes the purchase price and estimated fair values of assets acquired and liabilities assumed as of the Consolidated Mechanical Effective Date, with any excess of purchase price over estimated fair value of the identified net assets acquired recorded as goodwill.


(in thousands)	Purchase Price Allocation		Measurement Period Adjustments(1)		Adjusted Purchase Price Allocation
Consideration:
Cash	$	23,591	$	14	$	23,605
Earnout provision	757		—		757
Total Consideration	24,348		14		24,362

Fair value of assets acquired:
Cash and cash equivalents	390		—		390
Accounts receivable, including retainage	3,128		—		3,128
Contract assets	233		—		233
Other current assets	64		—		64
Property and equipment	548		—		548

Intangible assets	10,100		—		10,100
Amount attributable to assets acquired	14,463		—		14,463

Fair value of liabilities assumed:
Accounts payable, including retainage	291		—		291

Accrued expenses and other current liabilities	461		—		461
Contract liabilities	480		—		480

Amount attributable to liabilities assumed	1,232		—		1,232
Goodwill	$	11,117	$	14	$	11,131

(1) Measurement period adjustments recorded during the first quarter of 2025 included changes in the total cash consideration for the Consolidated Mechanical Transaction, resulting in a net increase less than $0.1 million to goodwill. The measurement period adjustments related to certain working capital adjustments made in connection with the finalization of the transaction’s closing date cash consideration.

The following table summarizes the purchase price and estimated fair values of assets acquired and liabilities assumed as of the Kent Island Effective Date, with any excess of purchase price over estimated fair value of the identified net assets acquired recorded as goodwill.


(in thousands)	Purchase Price Allocation		Measurement Period Adjustments(1)(2)		Adjusted Purchase Price Allocation
Consideration:
Cash	$	14,603	$	671	$	15,274
Earnout provision	4,381				4,381
Total Consideration	18,984		671		19,655

Fair value of assets acquired:
Cash and cash equivalents	1,887				1,887
Accounts receivable, including retainage	10,376				10,376
Contract assets	1,457		(93)		1,364

Property and equipment	434				434

Intangible assets	10,700				10,700
Amount attributable to assets acquired	24,854		(93)		24,761

Fair value of liabilities assumed:
Accounts payable, including retainage	4,586				4,586

Accrued expenses and other current liabilities	1,269				1,269
Contract liabilities	4,828				4,828

Amount attributable to liabilities assumed	10,683		—		10,683
Goodwill	$	4,813	$	764	$	5,577

(1) Measurement period adjustments recorded during the year-ended December 31, 2024 included changes in the total cash consideration for the Kent Island Transaction, resulting in a net increase of approximately $0.7 million to goodwill. The measurement period adjustments related to certain working capital adjustments made in connection with the finalization of the transaction’s closing date cash consideration.

(2) Measurement period adjustments recorded during the first quarter of 2025 reflect changes to the fair value of contract assets acquired, resulting in a net increase of approximately $0.1 million to goodwill.