Note 4: Business Combinations 2019 Acquisition. On September 20, 2019 , we entered into a stock purchase agreement with Truck Utilities, Inc. ( Truck Utilities ). Truck Utilities is a specialty rentals, parts, tools and accessories sales, service, equipment sales and truck upfitting company serving the electric transmission, distribution, telecom, and other regional end-markets. The consummation of the acquisition remained pending for the completion of customary pre-closing activities, which activities concluded on November 4, 2019 . Accordingly, on November 4, 2019 , we closed on the acquisition for a purchase price of approximately $47.7 million (which includes cash acquired of $3.1 million ), prior to certain capital expenditure adjustments of approximately $3.8 million . Truck Utilities rentals, equipment sales and truck upfitting operations was added to our ERS segment, while its parts, tools and accessories sales and service was added to our PTA segment. The transaction was financed by drawing on the 2019 Credit Facility (see Note 10). Truck Utilities reported revenue of $8.5 million and pretax income of $0.1 million during the period from November 5, 2019 to December 31, 2019 . As of the date of this report, we were in the preliminary phases of preparing the valuation of the assets acquired and liabilities assumed. Accordingly, the purchase price allocation for this acquisition presented below is preliminary. Completion of the purchase price allocation will encompass the finalization of valuations for acquisition-date working capital, intangible assets, property and equipment, as well as completion of acquisition-related income tax assessments. We have estimated the fair values of the assets acquired and liabilities assumed using the information that was available. Upon completion of the valuation process, amounts recognized could change resulting in additional expenses recognized for depreciation and amortization of long-lived assets in future periods. 2018 Acquisition. On July 2, 2018 , Nesco acquired 100 % of the common stock of N&amp;L Line Equipment (N&amp;L) for $5.0 million . N&amp;L manufactures hot line tools and is a distributor for linemans equipment and supplies in the utility industry. In addition to distributing for a wide variety of manufacturers, N&amp;L also has the capability to test, repair, and certify most of the equipment that is sold. N&amp;L s products will be sold through our existing distribution channels and N&amp;L was added to our PTA segment. The acquisition was settled with $1.6 million cash consideration and the issuance of $3.5 million , 5 % interest, five-year unsecured promissory notes to two former owners on July 2, 2018 . N&amp;L reported revenues of $2.1 million and $0.4 million pretax income during the July 2, 2018 to December 31, 2018 period. 2017 Acquisition. On October 6, 2017 , Nesco acquired assets of Bethea Tool &amp; Equipment . Assets acquired consisted of the strategic stringing block inventory and rights to the supply chain from Bethea (Acquiree or  Bethea ) for $6.0 million . The Bethea tradename is recognized in the industry as the premier brand of stringing blocks for both their quality and innovative design. The acquisition expanded our rental offering in high demand stringing blocks and secures a Chinese foundry supply chain. Bethea was added to our PTA segment. The acquisition was funded through the establishment of a $2.3 million accounts payable and the issuance of a $3.7 million note payable. The acquisition note payable is required to be paid with a $1.0 million lump sum payment due 90 days after October 6, 2017 , followed by quarterly installment payments of $0.2 million through December 2021 subject to 5 % interest. Bethea reported revenues of $0.7 million and $0.2 million pretax income during the October 6, 2017 to December 31, 2017 period. We accounted for the acquisitions using the acquisition method of accounting. The purchase price has been allocated to the fair value of the tangible and identifiable intangible assets acquired as determined by management with the assistance of independent third parties. The results of operations of Truck Utilities , N&amp;L and Bethea , have been included with the Companys results since the dates of each acquisition. Transaction costs associated with the acquisitions were expensed as incurred. The fair value (2019, provisional) of the assets acquired and liabilities assumed as of the acquisition dates were as follows: 2019 2018 2017 Truck Utilities N&amp;L Bethea (in $000s) (November 4, 2019) (July 2, 2018) (October 6, 2017) Cash $ 3,094 $ 69 $  Accounts receivable 3,029 559  Inventory 4,687 270 654 Other current assets 155   Property and equipment 78 474  Rental equipment 38,738 1,056  Customer relationships 2,820 1,610 450 Trademarks  530 500 Non-competition agreements  90 290 Total identifiable assets acquired 52,601 4,658 1,894 Accounts payable and other liabilities (10,562 ) (378 )  Note payable  (504 )  Total liabilities assumed (10,562 ) (882 )  Goodwill 9,481 1,189 4,073 Total consideration $ 51,520 $ 4,965 $ 5,967 The preliminary values of intangible assets and goodwill related to the acquisition of Truck Utilities consists largely of the synergies and economies of scale provided by the acquired rental equipment portion of the business, as well as additional service center locations in the central Midwestern region of the United States. Goodwill was preliminarily allocated to the ERS and PTA reporting unit in the amount of $6.0 million and $3.5 million , respectively. Intangible assets of $2.2 million and goodwill of $1.2 million arising from the N&amp;L acquisition consists largely of the synergies and economies of scale expected from expanding to meet high demand for hot line tools and linemans supplies in the utility industry. Goodwill of $4.1 million arising from the Bethea acquisition consists largely of the synergies and economies of scale expected from expanding our high demand stringing block offering and securing the supply chain. None of the goodwill recognized is expected to be deductible for income tax purposes. Unaudited Pro forma Information. The operating results of these acquisitions have been reflected in the Companys consolidated financial statements since the dates of each acquisition. The following unaudited pro forma information is presented for comparison purposes as if the Truck Utilities acquisition was completed as of January 1, 2018 (pro forma information related to N&amp;L and Bethea are not material to the Companys consolidated results): (in $000s) 2019 2018 Total revenue $ 301,450 $ 291,141 Net loss (24,576 ) (14,875 ) Basic and diluted net loss per share (0.74 ) (0.69 )