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BUSINESS COMBINATION AND ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2021
Business Acquisition [Line Items] |
Summary of reconciles elements of business combination to cash flows | The following table reconciles the elements of the Business Combination to the consolidated statements of cash flows for the year ended December 31, 2021:
|  | Recapitalization |
Cash - Empower's trust and cash (net of redemptions of $99,353 and transaction costs of $44,314) |  | $ | 107,017 |
Cash - Forward Purchase Agreement |  |  | 50,000 |
Cash - PIPE Financing |  |  | 240,000 |
Net cash provided by Business Combination and PIPE Financing |  |  | 397,017 |
Less: cash consideration paid to Holley Stockholder |  |  | (264,718 | )
Net contributions from Business Combination and PIPE Financing |  | $ | 132,299 |
Summary of Purchase price allocation of assets acquired and liabilities assumed | The allocation of the purchase price to the assets acquired and liabilities assumed was based on estimates of the fair value of the net assets as follows:
Cash |  | $ | 122 |
Accounts receivable |  |  | 618 |
Inventory |  |  | 3,975 |
Property, plant and equipment |  |  | 2,274 |
Other assets |  |  | 23 |
Tradenames |  |  | 2,608 |
Customer relationships |  |  | 2,450 |
Goodwill |  |  | 8,087 |
Accounts payable |  |  | (343 | )
Accrued liabilities |  |  | (129 | )
|  | $ | 19,685 |
Summary of pro forma information | The following table presents the supplemental and unaudited pro forma results as if Range, Drake, Simpson and Detroit Speed had been acquired as of January 1, 2019:
| For the years ended |
| December 31, 2020 |  |  | December 31, 2019 |
Pro forma net sales | $ | 584,270 |  |  | $ | 461,418 |
Pro forma net income (loss) |  | 37,304 |  |  |  | (8,799 | )
Baer, Inc. [Member] |
Business Acquisition [Line Items] |
Summary of Purchase price allocation of assets acquired and liabilities assumed | The allocation of the purchase price to the assets acquired and liabilities assumed was based on estimates of the fair value of the net assets as follows:
Accounts receivable |  | $ | 627 |
Inventory |  |  | 1,813 |
Property, plant and equipment |  |  | 695 |
Other assets |  |  | 76 |
Tradenames |  |  | 4,630 |
Customer relationships |  |  | 6,075 |
Goodwill |  |  | 8,363 |
Accounts payable |  |  | (81 | )
Accrued liabilities |  |  | (28 | )
|  | $ | 22,170 |
Brothers Mail Order Industries, Inc. [Member] |
Business Acquisition [Line Items] |
Summary of Purchase price allocation of assets acquired and liabilities assumed | The allocation of the purchase price to the assets acquired and liabilities assumed was based on estimates of the fair value of the net assets as follows:
Accounts receivable |  | $ | 22 |
Inventory |  |  | 1,682 |
Property, plant and equipment |  |  | 20 |
Other assets |  |  | 13 |
Tradenames |  |  | 4,975 |
Goodwill |  |  | 19,561 |
Accounts payable |  |  | (34 | )
Accrued liabilities |  |  | (403 | )
|  | $ | 25,836 |
Advance Engine Management Inc. [Member] |
Business Acquisition [Line Items] |
Summary of Purchase price allocation of assets acquired and liabilities assumed | The allocation of the purchase price to the assets acquired and liabilities assumed was based on estimates of the fair value of the net assets as follows:
|  | April 14, 2021 (as initially reported) |  |  | Measurement Period Adjustments |  |  | April 14, 2021 (as adjusted) |
Accounts receivable |  | $ | 3,454 |  |  | $ | (61 | ) |  | $ | 3,393 |
Inventory |  |  | 3,892 |  |  |  | — |  |  |  | 3,892 |
Property, plant and equipment |  |  | 1,342 |  |  |  | — |  |  |  | 1,342 |
Other assets |  |  | 493 |  |  |  | (91 | ) |  |  | 402 |
Tradenames |  |  | 10,760 |  |  |  | — |  |  |  | 10,760 |
Customer relationships |  |  | 14,640 |  |  |  | — |  |  |  | 14,640 |
Patents |  |  | 1,970 |  |  |  | — |  |  |  | 1,970 |
Technology intangibles |  |  | 110 |  |  |  | — |  |  |  | 110 |
Goodwill |  |  | 17,426 |  |  |  | (420 | ) |  |  | 17,006 |
Accounts payable |  |  | (2,032 | ) |  |  | 110 |  |  |  | (1,922 | )
Accrued liabilities |  |  | (489 | ) |  |  | 139 |  |  |  | (350 | )
|  | $ | 51,566 |  |  | $ | (323 | ) |  | $ | 51,243 |
Drake Automotive Group LLC [Member] |
Business Acquisition [Line Items] |
Summary of Purchase price allocation of assets acquired and liabilities assumed | The allocation of the purchase price to the assets acquired and liabilities assumed was based on estimates of the fair value of the net assets as follows:
Cash |  | $ | 205 |
Accounts receivable |  |  | 3,947 |
Inventory |  |  | 14,198 |
Property, plant and equipment |  |  | 1,296 |
Other assets |  |  | 189 |
Tradenames |  |  | 7,715 |
Customer relationships |  |  | 17,175 |
Goodwill |  |  | 7,551 |
Accounts payable |  |  | (2,524 | )
Accrued liabilities |  |  | (648 | )
|  | $ | 49,104 |
Simpson Performance Products, Inc. [Member] |
Business Acquisition [Line Items] |
Summary of Purchase price allocation of assets acquired and liabilities assumed | The allocation of the purchase price to the assets acquired and liabilities assumed was based on estimates of the fair value of the net assets as follows:
|  | November 16, 2020 (as initially reported) |  |  | Measurement Period Adjustments |  |  | November 16, 2020 (as adjusted) |
Cash |  | $ | 7,715 |  |  | $ | — |  |  | $ | 7,715 |
Accounts receivable |  |  | 3,894 |  |  |  | — |  |  |  | 3,894 |
Inventory |  |  | 19,265 |  |  |  | (770 | ) |  |  | 18,495 |
Property, plant and equipment |  |  | 5,952 |  |  |  | — |  |  |  | 5,952 |
Other assets |  |  | 1,613 |  |  |  | — |  |  |  | 1,613 |
Tradenames |  |  | 23,980 |  |  |  | — |  |  |  | 23,980 |
Customer relationships |  |  | 28,770 |  |  |  | — |  |  |  | 28,770 |
Patents |  |  | 2,720 |  |  |  | — |  |  |  | 2,720 |
Goodwill |  |  | 51,305 |  |  |  | (893 | ) |  |  | 50,412 |
Accounts payable |  |  | (2,483 | ) |  |  | — |  |  |  | (2,483 | )
Accrued liabilities |  |  | (7,787 | ) |  |  | 361 |  |  |  | (7,426 | )
Deferred tax liability |  |  | (12,993 | ) |  |  | 1,375 |  |  |  | (11,618 | )
Debt |  |  | (4,615 | ) |  |  | — |  |  |  | (4,615 | )
|  | $ | 117,336 |  |  | $ | 73 |  |  | $ | 117,409 |
Detroit Speed, Inc. [Member] |
Business Acquisition [Line Items] |
Summary of Purchase price allocation of assets acquired and liabilities assumed | The allocation of the purchase price to the assets acquired and liabilities assumed was based on estimates of the fair value of the net assets as follows:
|  | November 16, 2020 (as initially reported) |  |  | Measurement Period Adjustments |  |  | November 16, 2020 (as adjusted) |
Cash |  | $ | 1,784 |  |  | $ | — |  |  | $ | 1,784 |
Accounts receivable |  |  | 418 |  |  |  | — |  |  |  | 418 |
Inventory |  |  | 3,478 |  |  |  | (324 | ) |  |  | 3,154 |
Property, plant and equipment |  |  | 3,040 |  |  |  | — |  |  |  | 3,040 |
Other assets |  |  | 215 |  |  |  | — |  |  |  | 215 |
Tradenames |  |  | 1,127 |  |  |  | — |  |  |  | 1,127 |
Customer relationships |  |  | 560 |  |  |  | — |  |  |  | 560 |
Goodwill |  |  | 2,636 |  |  |  | 159 |  |  |  | 2,795 |
Accounts payable |  |  | (668 | ) |  |  | — |  |  |  | (668 | )
Accrued liabilities |  |  | (1,019 | ) |  |  | 500 |  |  |  | (519 | )
Deferred tax liability |  |  | (274 | ) |  |  | — |  |  |  | (274 | )
|  | $ | 11,297 |  |  | $ | 335 |  |  | $ | 11,632 |
Range Technologies Inc. [Member] |
Business Acquisition [Line Items] |
Summary of Purchase price allocation of assets acquired and liabilities assumed | The allocation of the purchase price to the assets acquired and liabilities assumed was based on estimates of the fair value of the net assets as follows:
Cash |  | $ | 218 |
Accounts receivable |  |  | 94 |
Inventory |  |  | 231 |
Property, plant and equipment |  |  | 7 |
Other assets |  |  | 60 |
Tradename |  |  | 510 |
Technology intangible |  |  | 5,695 |
Goodwill |  |  | 2,072 |
Accounts payable |  |  | (64 | )
Accrued liabilities |  |  | (4 | )
Deferred tax liability |  |  | (1,580 | )
|  | $ | 7,239 |
Baer, Brothers, AEM, Drake, Simpson and Detroit Speed [Member] |
Business Acquisition [Line Items] |
Summary of pro forma information | The following table provides the unaudited consolidated pro forma results for the periods presented as if Baer, Brothers, AEM, Drake, Simpson, and Detroit Speed had been acquired as of January 1, 2020.
| For the years ended |
| December 31, 2021 |  |  | December 31, 2020 |
Pro forma net sales | $ | 727,369 |  |  | $ | 631,560 |
Pro forma net income (loss) |  | (8,464 | ) |  |  | 31,435 |

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