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ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Fair Value Consideration Transferred

Sterling completed the PPG Acquisition for a purchase price of $56,693, net of cash acquired, detailed as follows:

Cash consideration transferred, net of cash acquired			$	50,002
Earn-out (1)			4,500
Target working capital adjustment			2,191
Total fair value of consideration			$	56,693

(1) The earn-out arrangement requires the Company to pay up to $20,000 based upon PPG’s achievement of certain cumulative EBITDA targets for a three year period ending on December 31, 2026. No payment shall be made if the cumulative EBITDA targets are not achieved.

Schedule of Preliminary Purchase Price Allocation

The following table summarizes our purchase price allocation at the acquisition closing date, net of cash acquired:

Net tangible assets (liabilities):
Accounts receivable			$	2,588
Other current assets			1,460
Property and equipment, net			1,679
Other non-current assets, net			2,394
Accounts payable			(1,268)
Deferred tax liability			(10,525)
Other current and non-current liabilities			(2,806)
Total net tangible liabilities			(6,478)
Identifiable intangible assets			44,500
Goodwill			18,671
Total fair value of consideration transferred			$	56,693

Schedule of Identifiable Intangible Assets Acquired

The estimated useful lives for intangible assets were determined based upon the remaining useful economic lives of the intangible assets that are expected to contribute directly or indirectly to future cash flows.

			Weighted Average Life (Years)						November 16, 2023 Fair Value
Customer relationships			20						$	43,400
Trade names			15						1,100
Total									$	44,500

Schedule of Proforma Information

This pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been achieved had the pro forma events taken place on the dates indicated. Further, the pro forma financial information does not purport to project the future operating results of the combined company following the PPG Acquisition.

			Year Ended December 31, 2023
Pro forma revenue			$	2,033,081
Pro forma net income from Continuing Operations			$	149,036

X

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Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

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