Quarterly report pursuant to Section 13 or 15(d)

BUSINESS COMBINATION AND GOODWILL (Tables)

v3.23.1
BUSINESS COMBINATION AND GOODWILL (Tables)
 3 Months Ended
Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Identifiable Assets Acquired and Liabilities Assumed (in thousands).
Consideration
Cash $ 319,364 
Liabilities assumed 736 
Total consideration $ 320,100 
Assets acquired and liabilities assumed
Net tangible acquired assets $ 76,675 
Trade name(1)
3,000 
Client relationship(1)
48,000 
Management contracts(1)
98,000 
Fair value of net identifiable assets acquired $ 225,675 
Non-controlling interest(1)
(84,197)
Goodwill(1)
178,622 
Total assets acquired and liabilities assumed, net $ 320,100 
(1)The fair value was determined using Level 3 assumptions.
The following table summarizes the total consideration for the GBC Acquisition and the related purchase price allocation for the assets acquired, liabilities assumed and non-controlling interests (in thousands):
Consideration
Cash $ 15,089 
Class A Units 14,930 
Total consideration for equity interest acquired $ 30,019 
Assets acquired, liabilities assumed and non-controlling interests
Cash $ 56 
Working capital 623 
Trade name(1)
150 
In place contracts(1)
3,195 
Other liabilities (104)
Fair value of net assets acquired $ 3,920 
Non-controlling interest(1)
(20,053)
Goodwill(1)
46,152 
Total assets acquired, liabilities assumed and non-controlling interests, net $ 30,019 
(1)The fair value was determined using Level 3 assumptions.
Schedule of Supplemental Information for Pro Forma Supplemental information on a pro forma basis, as if the Newbury Acquisition had been consummated on January 1, 2022, is as follows (in thousands):
Three Months Ended March 31,
2023 2022
Total revenues and investment (loss) income $ (1,900) $ 189,978 
Net income attributable to Bridge Investment Group Holdings Inc. (268) 9,104