Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2024 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events Increase to Credit Facility On July 8, 2024, the Company entered into a supplement to its credit facility agreement which increased the aggregate revolving commitments available under the credit facility from $250.0 million to $290.0 million. Breakroom Acquisition On July 23, 2024, the Company acquired all of the outstanding share capital in Poplar Technologies Limited (d/b/a Breakroom) (“Breakroom”). Breakroom is a UK-based employee review platform focused on the next generation of frontline workers. The Company believes there is an opportunity with Breakroom to complement its employment sites in the United States. Upon the close of the transaction, the Company paid $12.6 million in cash. In addition, approximately $3.9 million is expected to be paid out to certain employees and non-employee shareholders of Breakroom up to three years post-closing of this transaction. Such additional payments are subject to customary holdback provisions, with such payments to employees also being conditioned upon each such individual’s continued employment with the Company, which will be expensed as incurred. Given the recent timing of the closing of this transaction, the Company is in the process of determining the fair values of the acquired assets and assumed liabilities.
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