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Related Parties
 3 Months Ended
Mar. 31, 2024
Related Party Transactions [Abstract]  
Related Parties

Note 17 – Related Parties

 

The following persons are owners of Fabricaciones y Servicios de México, S.A. de C.V. (“Fasemex”): Jesús Gil, a director of the Company and former VP, Operations; and Alejandro Gil and Salvador Gil, siblings of Jesús Gil. Fasemex owns approximately 10.6% of the outstanding shares of Common Stock as of March 31, 2024 and provides steel fabrication services to the Company. The lessors of the Castaños Facility are Jesús Gil, Alejandro Gil, and Salvador Gil. Distribuciones Industriales JAS S.A. de C.V. (“DI”) is owned by Alejandro Gil and Salvador Gil and provides material and safety supplies to the Company. Maquinaria y equipo de transporte Jova S.A. de C.V (“METJ”) is owned by Jorge Gil, a sibling of Jesús Gil, and provides trucking services to the Company. Fasemex, DI, METJ, Jesús Gil, Alejandro Gil, Salvador Gil, and Jorge Gil are collectively referred to as the “Gil Family”.

The Company paid $7,647 and $5,636 to the Gil Family during the three months ended March 31, 2024 and 2023, respectively, related to steel fabrication services, rent and security deposit payments for the Castaños Facility, material and safety supplies, trucking services and royalty payments.

Commercial Specialty Truck Holdings, LLC (“CSTH”) is minority owned by James R. Meyer, a member of our Board, our former CEO, and beneficial owner of over 5% of our Common Stock. The Company sold specialty parts supplies in an amount equal to $208 to CSTH during the three months ended March 31, 2024. The Company sold no specialty parts supplies to CSTH during the three months ended March 31, 2023.

 

Related party asset on the condensed consolidated balance sheet of $902 as of March 31, 2024 includes other receivables of $188 from CSTH and other assets of $714 from the Gil Family. Related party accounts payable on the condensed consolidated balance sheet of $2,394 as of March 31, 2024 is payable to the Gil Family. Related party asset on the condensed consolidated balance sheet of $638 as of December 31, 2023 includes other receivables of $517 from the Gil Family and $121 from CSTH. Related party accounts payable on the condensed consolidated balance sheet of $2,478 as of December 31, 2023 is payable to the Gil Family.