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Acquisitions | 3 Months Ended
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Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Acquisitions | Note 3. Acquisitions Contiglass Asset Acquisition, LLC In April 3, 2025, Tecnoglass acquired certain assets and assumed liabilities of Florida-based Continental Glass Systems, LLC., a premier provider of innovative architectural glass and glazing solutions in the Southeast U.S., to create wholly owned Contiglass Asset Acquisition, LLC (“Contiglass). This acquisition included a manufacturing plant, various intangibles, and a substantial project backlog in both execution and pipeline phases. This transaction is considered a business combination under U.S. GAAP. Continental’s production capabilities, high-quality product portfolio, and reputation for excellence strengthens Tecnoglass’ U.S. market presence, broadens its client reach, and creates synergies that reinforce Tecnoglass’ leadership position in the architectural glass industry. Additionally, the Company anticipates operational benefits as it integrates Continental’s supply chains into its existing manufacturing operations. The purchase price for the acquisition was $10,429, of which $6,588 of the purchase price was paid in cash by the Company on April 3, 2025. Post-acquisition working capital adjustment of $253 was paid 45 days after transaction closing date, with the remaining amount to be payable by the Company in cash within 365 days after closing date. The total amount of acquisition-related costs was $588, which are included within general and administrative expenses in the Statement of operations during the second quarter of 2025. The total consideration transferred is $10,429. Under ASC 805, a company can apply measurement period adjustments during the twelve-month period after the date of acquisition. During this period, the acquirer may adjust preliminary amounts recognized at the acquisition date to their subsequently determined final fair values. The allocation of the consideration transferred was based on management’s judgment after evaluation of several factors, including a preliminary valuation assessment. The following table summarizes the purchase price allocation of the total consideration transferred: Schedule of Purchase Price Allocation Consideration Transferred
Consideration Transferred: |  |  |
Total purchase price |  | $ | 10,429 |
Recognized amounts of identifiable assets acquired and liabilities assumed: |  | Preliminary Purchase Price Allocation |  |  | Measurement Period Adjustments |  |  | Adjusted Purchase Price Allocation |
Cash and equivalents |  | $ | - |  |  |  | - |  |  |  | - |
Accounts Receivable |  |  | 4,814 |  |  |  | - |  |  |  | 4,814 |
Other Current Assets |  |  | 585 |  |  |  | - |  |  |  | 585 |
Property, plant, and equipment |  |  | 826 |  |  |  | - |  |  |  | 826 |
Trade Name |  |  | 170 |  |  |  | - |  |  |  | 170 |
Contract Backlog |  |  | 670 |  |  |  | - |  |  |  | 670 |
Notice of Acceptance and FBC permits |  |  | 6,260 |  |  |  | - |  |  |  | 6,260 |
Right-of-use assets |  |  | 1,192 |  |  |  | (555 | ) |  |  | 637 |
Account payable |  |  | (2,890 | ) |  |  | - |  |  |  | (2,890 | )
Accrued expenses |  |  | (81 | ) |  |  | - |  |  |  | (81 | )
Service revenue deposit |  |  | (518 | ) |  |  | 94 |  |  |  | (424 | )
Lease liabilities |  |  | (1,229 | ) |  |  | 580 |  |  |  | (649 | )
Billings in excess of cost and profit |  |  | (5,987 | ) |  |  | - |  |  |  | (5,987 | )
Total identifiable net assets |  |  | 3,812 |  |  |  | 119 |  |  |  | 3,931 |
Goodwill |  | $ | 6,617 |  |  |  | (119 | ) |  | $ | 6,498 |
The excess of the consideration transferred over the estimated fair values of assets acquired and liabilities assumed were recorded as goodwill. The identifiable intangible asset subject to amortization was the tradename, backlog of projects, and certain Notice of Acceptance and Florida Building Code permits, which have a remaining useful life of 2two to five years. See “Note 6 – Goodwill and Intangible Assets” for additional information.

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