Related Party Transactions
|9 Months Ended|
Sep. 30, 2022
|Related Party Transactions [Abstract]|
|Related Party Transactions||
15. Related-Party Transactions
For various advisory and monitoring services provided to the Company, Leonard Green & Partners ("LGP"), the majority owner of the Company, historically received $1,000 annually for various advisory and monitoring services provided to the Company pursuant to a management services agreement. For the three and nine months ended September 30, 2022, the Company did not pay fees and expenses to LGP. For the three and nine months ended September 30, 2021, total fees and expenses paid by the Company to LGP were $0 and $500, respectively. Fees and expenses paid to LGP are included in general and administrative expenses in the accompanying unaudited condensed consolidated statements of operations and comprehensive income (loss). The management services agreement terminated in June 2021 upon the consummation of the IPO.
LGP was one of the Company’s creditors under the Amended Second Lien Credit Agreement with an investment in 2020 of $5,625 in the Second Lien Term Loan. The Company made a voluntary prepayment of all outstanding balances under the Second Lien Term Loan in June 2021. See Note 8 Debt for additional information.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef