Note 4. Business Combinations May 2019 Acquisition of Capital Pumping On May 15, 2019, the Company acquired Capital Pumping, LP and its affiliates (Capital), a concrete pumping provider based in Texas for a purchase price of $129.2 million, which was paid using proceeds from the Companys public offering of common stock and additional borrowings on its term loan facility. This acquisition qualified as a business combination under ASC 805. Accordingly, the Company recorded all assets acquired and liabilities assumed at their acquisition-date fair values, with any excess recognized as goodwill. Goodwill recorded from the transaction represents expected synergies from combining operations and the assembled workforce. The following table represents the final allocation of consideration to the assets acquired and liabilities assumed at their estimated acquisition-date fair values with any measurement-period adjustments included: Consideration paid: $ 129,218 Net assets acquired: Current assets $ 748 Intangible assets 45,500 Property and equipment 56,467 Liabilities assumed (63 ) Total net assets acquired 102,652 Goodwill $ 26,566 Identifiable intangible assets acquired consist of customer relationships of $40.0 million and a trade name valued at $5.5 million. The customer relationships were valued using the multi-period excess earnings method. The Company determined the useful life of the customer relationships to be 15 years. The trade name was valued using the relief-from-royalty method and the Company determined the trade name associated with Capital to be indefinite. December 2018 Acquisition of CPH On December 6, 2018, the Company consummated the Business Combination. This acquisition qualified as a business combination under ASC 805. Accordingly, the Company recorded all assets acquired and liabilities assumed at their acquisition-date fair values, with any excess recognized as goodwill. Goodwill recorded from the transaction represents the value provided by the Companys leading market share in a highly-fragmented industry. The following table represents the final allocation of consideration to the assets acquired and liabilities assumed at their estimated acquisition-date fair values with any measurement-period adjustments included (see paragraph below for any measurement-period adjustments included): Consideration paid: Cash $ 445,386 Fair value of rollover equity 164,908 Net working capital adjustment 4,050 Total consideration paid $ 614,344 Net assets acquired: Current assets $ 48,912 Intangible assets 208,063 Property and equipment 219,467 Liabilities assumed (110,245 ) Total net assets acquired 366,197 Goodwill $ 248,147 Note: Cash in table above is net of $1.0 million in cash acquired Identifiable intangible assets acquired consist of customer relationships of $152.7 million and trade names of $55.4 million. The customer relationships were valued using the multi-period excess earnings method. The Company determined the useful life of the customer relationships to be 15 years. The trade names were valued using the relief-from-royalty method. The Company determined the useful life of the trade name associated with Camfaud to be 10 years. The Company determined the trade names associated with Brundage-Bone and Eco-Pan to be indefinite. During the Successor period from December 6, 2018 through October 31, 2019, the Company recorded an out of period adjustment related to the reduction of sales tax accrual of $3.4 million that resulted in changes to goodwill and liabilities assumed in the transaction. The impact of the adjustment was not considered material to the Company's previously issued financial statements. CPH incurred transaction costs of $14.2 million and debt extinguishment costs of $16.4 million independently prior to the Business Combination. Additional costs consisting of stock option and other compensation related expenses were recorded in connection with the Business Combination. These costs were solely contingent upon the completion of the business combination and did not include any future service requirements. As such, these costs will be presented on the line and are not reflected in either Predecessor or Successor financial statements. On the line describes those expenses triggered by the consummation of a business combination that were incurred by the acquiree, i.e. CPH, that are not recognized in the Statement of Operations of either the Predecessor or Successor as they are not directly attributable to either period but instead were contingent on the Business Combination. In conjunction with the Business Combination, there were $15.6 million of transaction bonuses and, as a result of a change in control provision for stock-based awards, certain unvested stock-based awards immediately vested, resulting in the recognition of compensation expense of approximately $0.6 million. These expenses were not reflected in either the Predecessor or Successor consolidated statement of operations and comprehensive loss periods. Unaudited Pro Forma Financial Information The following unaudited pro forma financial information presents the combined results of operations for the Company and gives effect to the CPH and Capital business combinations discussed above as if they had occurred on November 1, 2018. The unaudited pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the results of operations that would have been realized if the CPH and Capital business combinations had been completed on November 1, 2018, nor does it purport to project the results of operations of the combined company in future periods. The unaudited pro forma financial information does not give effect to any anticipated integration costs related to the acquired company. The unaudited pro forma financial information is as follows: (in thousands) Six Months Ended April 30, 2020 Six Months Ended April 30, 2019 Revenue $ 147,980 $ 24,396 Pro forma revenue adjustments by Business Combination Capital - 24,765 CPH - 95,958 Total pro forma revenue $ 147,980 $ 145,119 (in thousands) Six Months Ended April 30, 2020 Six Months Ended April 30, 2019 Net loss $ (61,714 ) $ (22,575 ) Pro forma net income (loss) adjustments by Business Combination Capital - 2,354 CPH - (13,275 ) Total pro forma net loss $ (61,714 ) $ (33,496 )