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Note 3 - Acquisitions | 12 Months Ended
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Dec. 31, 2025
Notes to Financial Statements |
Business Combination [Text Block] |
3. | Acquisitions
Fiscal 2024 Acquisitions On November 1, 2024, the Company acquired Wolverine, headquartered in Zeeland, Michigan. Wolverine is an industrial and residential generator distributor as well as a provider of maintenance and repair services. On August 1, 2024, the Company acquired the assets and liabilities of Ageto. Ageto designs and integrates microgrid control solutions and is headquartered in Fort Collins, Colorado. On June 26, 2024, the Company closed on the acquisition of the C&I BESS product offering from SunGrid Solutions Inc. located in Cambridge, Canada. On April 1, 2024, the Company acquired Huntington, headquartered in Shelton, Connecticut. Huntington is an industrial and residential generator distributor as well as a provider of maintenance and repair services. The Company recorded its preliminary purchase price allocation for C&I BESS and Huntington during the second quarter of 2024, and the Company recorded its preliminary purchase price allocation for Ageto and Wolverine during the third quarter and fourth quarter of 2024, respectively, based on its estimates of the fair value of the acquired assets and assumed liabilities. Purchase accounting for C&I BESS and Huntington was finalized in the second quarter of 2025, while purchase accounting for Ageto and Wolverine was finalized in the third quarter and fourth quarter of 2025, respectively. There were no material adjustments to the Company's preliminary estimates for Wolverine, Ageto, C&I BESS, or Huntington. The final combined purchase price for Wolverine, Ageto, C&I BESS, and Huntington was $45,765. The accompanying consolidated financial statements include the results of the acquired businesses since their dates of acquisition. Fiscal 2023 Acquisitions On February 1, 2023, the Company acquired REFUstor, headquartered in Pfullingen, Germany. REFUstor is a developer and supplier of battery storage hardware products, advanced software, and platform services for the commercial & industrial energy storage market. The Company recorded its preliminary purchase price allocation for REFUstor during the first quarter of 2023, based on its estimates of the fair value of the acquired assets and assumed liabilities. Purchase accounting for REFUstor was finalized in the first quarter of 2024 and did not result in material adjustments to the Company's preliminary estimates. The final purchase price was $16,127. The accompanying consolidated financial statements include the results of REFUstor since the date of acquisition. Summary Purchase Price Allocations The fair values assigned to certain assets acquired and liabilities assumed for all acquisitions completed during 2023 and 2024 are shown below. No material acquisitions were completed in 2025.
|  | 2024 Acquisitions |  |  | 2023 Acquisitions |
Accounts receivable |  | $ | 9,528 |  |  | $ | 347 |
Inventories |  |  | 9,835 |  |  |  | 1,239 |
Prepaid expenses and other current assets |  |  | 786 |  |  |  | 166 |
Property and equipment |  |  | 809 |  |  |  | 5,843 |
Intangible assets |  |  | 19,311 |  |  |  | 6,174 |
Goodwill |  |  | 16,354 |  |  |  | 5,363 |
Other assets |  |  | 4,461 |  |  |  | 837 |
Total assets acquired |  |  | 61,084 |  |  |  | 19,969 |
Accounts payable |  |  | 2,420 |  |  |  | 1,278 |
Accrued wages and employee benefits |  |  | 1,204 |  |  |  | 264 |
Other accrued liabilities |  |  | 9,074 |  |  |  | 236 |
Current portion of long-term borrowings and finance lease obligations |  |  | 146 |  |  |  | - |
Deferred income taxes |  |  | 803 |  |  |  | 2,007 |
Other long-term liabilities |  |  | 1,490 |  |  |  | 57 |
Long-term debt |  |  | 182 |  |  |  | - |
Net assets acquired |  | $ | 45,765 |  |  | $ | 16,127 |
Pro forma and other financial information are not presented as the effects of the Company's acquisitions since 2023 are not material to the Company's results of operations or financial position.

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