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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2022
Business Acquisition [Line Items] |
Business Acquisition, Pro Forma Information | The following table presents the unaudited pro forma combined net sales of the Company, OSW, Ground Force and Deist for the years ended December 31, 2021 and 2020, assuming the transactions occurred on January 1, 2020. Pro forma combined income from continuing operations and pro forma diluted earnings per share are not presented, as they would not be materially different from the results reported for the years ended December 31, 2021 and 2020.
| For the Years Ended December 31,
(in millions) | 2021 |  | 2020
Net sales | $ | 1,287.7 |  |  | $ | 1,229.1 |
TowHaul |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date:
(in millions) |
Purchase price, inclusive of preliminary adjustment for working capital and other post-closing items (a) | $ | 43.3 |
Total consideration | 43.3 |
Accounts receivable | 1.5 |
Inventories | 4.7 |
Properties and equipment | 6.5 |
Customer relationships (b) | 14.0 |
Trade names (c) | 6.7 |
Accounts payable | (0.1) |
Accrued liabilities | (0.5) |
Customer deposits | (2.4) |
Net assets acquired | 30.4 |
Goodwill (d) | $ | 12.9 |
(a) The initial purchase price, which is subject to certain post-closing adjustments, including working capital, was funded through existing cash and borrowings under the Company’s revolving credit facility. (b) Represents the preliminary fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with a preliminary estimated useful life of approximately 12 years. (c) Represents the preliminary fair value assigned to trade names, which are considered to be indefinite-lived intangible assets. (d) Goodwill, which is tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.
Deist |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the fair value of assets acquired and liabilities assumed as of the acquisition date:
(in millions) |
Purchase price, inclusive of closing adjustments | $ | 38.1 |
Estimated fair value of additional consideration (a) | 2.0 |
Total consideration | 40.1 |
Accounts receivable | 5.1 |
Inventories | 8.8 |
Prepaid expenses and other current assets | 0.2 |
Properties and equipment | 8.5 |
Customer relationships (b) | 3.1 |
Trade names (c) | 5.2 |
Other intangible assets | 1.1 |
Accounts payable | (1.8) |
Accrued liabilities | (3.2) |
Customer deposits | (0.6) |
Net assets acquired | 26.4 |
Goodwill (d) | $ | 13.7 |
(a) Represents the estimated fair value of the contingent earn-out payment as of the acquisition date, which is included as a component of Other long-term liabilities on the Consolidated Balance Sheets. See Note 18 – Fair Value Measurements for discussion of the methodology used to determine the fair value of the contingent earn-out payment. (b) Represents the fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with an estimated useful life of 5 years. (c) Represents the fair value assigned to trade names, which are considered to be indefinite-lived intangible assets. (d) Goodwill, which is tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.
Ground Force |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the fair value of assets acquired and liabilities assumed as of the acquisition date:
(in millions) |
Purchase price, inclusive of closing adjustments | $ | 43.1 |
Total consideration | 43.1 |
Accounts receivable | 3.0 |
Inventories | 4.0 |
Prepaid expenses and other current assets | 0.2 |
Properties and equipment | 1.3 |
Operating lease right-of-use assets | 3.0 |
Customer relationships (a) | 16.8 |
Trade names (b) | 7.8 |
Operating lease liabilities | (3.0) |
Accounts payable | (1.8) |
Accrued liabilities | (0.7) |
Customer deposits | (2.9) |
Net assets acquired | 27.7 |
Goodwill (c) | $ | 15.4 |
(a) Represents the fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with an estimated useful life of 12 years. (b) Represents the fair value assigned to trade names, which are considered to be indefinite-lived intangible assets. (c) Goodwill, which is tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.
OSW |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the fair value of assets acquired and liabilities assumed as of the acquisition date:
(in millions) |
Purchase price, inclusive of closing adjustments | $ | 53.2 |
Total consideration | 53.2 |
Cash | 1.3 |
Accounts receivable | 3.5 |
Inventories | 8.3 |
Prepaid expenses and other current assets | 0.7 |
Properties and equipment | 5.8 |
Operating lease right-of-use assets | 12.3 |
Customer relationships (a) | 11.3 |
Trade names (b) | 8.4 |
Other intangible assets | 0.2 |
Operating lease liabilities | (12.3) |
Accounts payable | (3.8) |
Accrued liabilities | (1.9) |
Customer deposits | (0.8) |
Finance lease obligations | (1.7) |
Net assets acquired | 31.3
Goodwill (c) | $ | 21.9 |
(a) Represents the fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with an estimated useful life of 12 years. (b) Represents the fair value assigned to trade names, which are considered to be indefinite-lived intangible assets. (c) Goodwill, the majority of which is tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.

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