v3.25.1
Business Combinations (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Business Combinations [Abstract]    
Schedule of Summary of Fair Value Consideration Transferred

The following table summarizes the fair value consideration transferred and the estimated fair values of the assets acquired and liabilities assumed at the Closing Date:

Cash consideration

  

$

1,871,642

 

Equity consideration

  

 

4,000

 

Total estimated consideration

  

$

1,875,642

 

Recognized amounts of identifiable assets acquired and liabilities assumed

  

 

  

 

Cash and cash equivalents

  

 

49,456

 

Accounts receivables, net

  

 

270,849

 

Prepaid and other current assets

  

 

9,302

 

Property, plant and equipment

  

 

199,760

 

Lease assets

  

 

27,530

 

Intangible assets

  

 

775,000

 

Other assets

  

 

13,674

 

Deferred tax assets

  

 

813

 

Accounts payable

  

 

(17,035

)

Accrued expenses and other current liabilities

  

 

(76,446

)

Deferred tax liabilities

  

 

(167,944

)

Lease obligations

  

 

(54,900

)

Other liabilities

  

 

(20,016

)

Total identifiable net assets acquired

  

 

1,010,043

 

Goodwill

  

$

865,599

 
The following table summarizes the fair value consideration transferred and the estimated fair values of the assets acquired and liabilities assumed at the date of the Acuren Acquisition:

Cash consideration

  

$

1,871,642

 

Equity consideration

  

 

4,000

 

Total estimated consideration

  

$

1,875,642

 

Recognized amounts of identifiable assets acquired and liabilities assumed

  

 

  

 

Cash and cash equivalents

  

 

49,456

 

Accounts receivables, net

  

 

270,849

 

Prepaid and other current assets

  

 

9,302

 

Property, plant and equipment, net

  

 

199,760

 

Lease assets

  

 

27,530

 

Intangible assets, net

  

 

775,000

 

Other assets

  

 

13,674

 

Deferred tax asset

  

 

813

 

Accounts payable

  

 

(17,035

)

Accrued expenses and other current liabilities

  

 

(76,446

)

Deferred tax liability

  

 

(167,944

)

Lease obligations

  

 

(54,900

)

Other liabilities

  

 

(20,016

)

Total identifiable net assets

  

 

1,010,043

 

Goodwill

  

$

865,599

 
Schedule of Fair Value of the Identifiable Intangible Assets  

The following table summarizes the fair value of the identifiable intangible assets:

Customer relationships

  

$

670,000

Tradenames and trademarks

  

 

100,000

Technology

  

 

5,000

Total intangible assets

  

$

775,000
Schedule of Consolidated Statement of Operations and Comprehensive Income (Loss)   These amounts are based on financial information of ASP Acuren and is not necessarily indicative of what Company’s operating results would have been had the Acuren Acquisition and related financing taken place on January 1, 2023.
 

Successor
December 31,
2024

  

Predecessor
December 31,
2023

Net revenue

  

$

1,097,393

 

  

$

1,050,057

 

Net loss

  

 

(26,075

)

  

 

(155,315

)
Schedule of Consolidated Statement of Operations and Comprehensive Income (Loss)  

The amounts of revenue and operating income (loss) from Predecessor period acquisitions included in the Company’s consolidated statement of operations and comprehensive income (loss) for the period from July 30 to December 31, 2024 (Successor), and January 1 to July 29, 2024 (Predecessor) and the years ended December 31, 2023 and 2022 (Predecessor), are as follows:

 

2024

  

2023

  

2022

Successor
July 30 to
December 31

  

Predecessor
January 1 to
July 29

  

Predecessor
January 1 to
December 31

  

Predecessor
January 1 to
December 31

Revenue

  

$

11,820

  

$

10,840

  

$

1,438

  

$

17,618

 

Operating income (loss)

  

 

1,173

  

 

1,040

  

 

421

  

 

(3,509

)