Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 5 Months Ended 7 Months Ended 12 Months Ended
Jul. 19, 2016
Dec. 31, 2016
Jul. 19, 2016
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:          
Net income (loss)   $ (698)      
Adjustments to reconcile net income to cash provided by operating activities:          
Depreciation and amortization   5,756 $ 1,582   $ 2,630
Allowance for doubtful accounts   219      
Stock based compensation expense   0 1,500    
Capitalized deferred interest on subordinated debt   84      
Amortization of debt issuance costs   492      
Deferred tax provision   (3,871)      
Accretion of preferred stock discount to redemption value   4      
Loss from early extinguishment of debt   2,172      
Loss on sale of property and equipment   250      
Changes in operating assets and liabilities:          
Increase in restricted cash   (50)      
(Increase) decrease in accounts receivable   (33,606)      
(Increase) decrease in costs and estimated earnings in excess of billings on uncompleted contracts   6,256      
(Increase) decrease in other current assets   549      
(Increase) decrease in other assets   78      
Increase (decrease) in accounts payable   16,661      
Increase in billings in excess of costs and estimated earnings on uncompleted contracts   9,123      
Increase (decrease) in accrued expenses and other current liabilities   (478)      
Increase (decrease) in other long-term liabilities   173      
Net cash provided by operating activities   3,114      
Cash flows from investing activities:          
Proceeds from sale of property and equipment   2,085      
Advances to joint ventures   (4)      
Purchase of property and equipment   (1,281)      
Acquisition of Limbach Holdings LLC, net of cash acquired   (32,158)      
Proceeds from trust account   18,005      
Net cash used in investing activities   (13,353)      
Cash flows from financing activities:          
Proceeds from revolving credit facility   0      
Payments on revolving credit facility   (3,492)      
Proceeds from Credit Agreement term loan   24,000      
Payments Credit Agreement term loan   (1,500)      
Proceeds from Subordinated Loan   13,084      
Payments on Subordinated Loan   (15,340)      
Proceeds from Credit Agreement revolver   34,501      
Payments on Credit Agreement revolver   (34,501)      
Payments on term loan   (539)      
Payments on subordinated debt facility   (23,604)      
Payments on capital leases   (730)      
Repayment of promissory note to affiliate   (125)      
Proceeds from issuance of redeemable convertible preferred stock   9,946      
Proceeds from sale of common stock   17,236   $ 17,200  
Debt issuance costs   (1,313)      
Distributions to members   0      
Net cash provided by (used in) financing activities   17,623      
Increase (decrease) in cash and cash equivalents   7,384      
Cash and cash equivalents, beginning of period   0      
Cash and cash equivalents, end of period   7,406   7,406  
Noncash investing and financing transactions:          
Property and equipment acquired financed with capital leases   1,259      
Interest paid   3,390      
Predecessor [Member]          
Cash flows from operating activities:          
Net income (loss)     2,568   4,372
Adjustments to reconcile net income to cash provided by operating activities:          
Depreciation and amortization     1,582   2,630
Allowance for doubtful accounts     50   (41)
Stock based compensation expense $ 1,500   1,349   0
Capitalized deferred interest on subordinated debt     1,395   2,702
Amortization of debt issuance costs     0   0
Deferred tax provision     0   0
Accretion of preferred stock discount to redemption value     0   0
Loss from early extinguishment of debt     0   0
Loss on sale of property and equipment     (1)   73
Changes in operating assets and liabilities:          
(Increase) decrease in accounts receivable     5,722   (11,458)
(Increase) decrease in costs and estimated earnings in excess of billings on uncompleted contracts     (18,698)   (7,849)
(Increase) decrease in other current assets     (662)   (50)
(Increase) decrease in other assets     (95)   1
Increase (decrease) in accounts payable     (6,973)   2,658
Increase in billings in excess of costs and estimated earnings on uncompleted contracts     4,276   1,603
Increase (decrease) in accrued expenses and other current liabilities     10,847   6,616
Increase (decrease) in other long-term liabilities     277   (651)
Net cash provided by operating activities     1,639   606
Cash flows from investing activities:          
Proceeds from sale of property and equipment     7   58
Advances to joint ventures     0   (1)
Purchase of property and equipment     (2,114)   (2,380)
Acquisition of Limbach Holdings LLC, net of cash acquired     0   0
Proceeds from trust account     0   0
Net cash used in investing activities     (2,107)   (2,323)
Cash flows from financing activities:          
Proceeds from revolving credit facility     60,122   63,553
Payments on revolving credit facility     (63,630)   (61,053)
Proceeds from Credit Agreement term loan     0   0
Payments Credit Agreement term loan     0   0
Proceeds from Subordinated Loan     0   0
Payments on Subordinated Loan     0   0
Proceeds from Credit Agreement revolver     0   0
Payments on Credit Agreement revolver     0   0
Payments on term loan     (1,038)   (2,074)
Payments on subordinated debt facility     0   0
Payments on capital leases     (660)   (1,090)
Repayment of promissory note to affiliate     0   0
Proceeds from issuance of redeemable convertible preferred stock     0   0
Proceeds from sale of common stock     0   0
Debt issuance costs     0   0
Distributions to members     (195)   (124)
Net cash provided by (used in) financing activities     (5,401)   (788)
Increase (decrease) in cash and cash equivalents     (5,869)   (2,505)
Cash and cash equivalents, beginning of period     6,107 6,107 8,612
Cash and cash equivalents, end of period $ 238   238   6,107
Noncash investing and financing transactions:          
Property and equipment acquired financed with capital leases     1,014   1,547
Interest paid     693   527
Limbach Holdings, Inc [Member]          
Cash flows from financing activities:          
Cash and cash equivalents, beginning of period   $ 22      
Limbach Holdings, Inc [Member] | Predecessor [Member]          
Cash flows from financing activities:          
Cash and cash equivalents, beginning of period     $ 0 $ 0 0
Cash and cash equivalents, end of period         $ 0