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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2024

Standard Equipment

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the acquisition date:

(in millions of dollars)
Purchase price, inclusive of preliminary adjustment for working capital and other post-closing items (a)			$	39.7
Estimated fair value of additional consideration (b)			0.6
Total consideration			40.3
Accounts receivable			4.1
Inventories			9.0
Prepaid expenses and other current assets			0.1
Rental equipment			11.5
Properties and equipment			0.6
Operating lease right-of-use assets			2.7
Customer relationships (c)			4.4
Trade names (d)			3.1
Other intangible assets			0.3
Accounts payable			(0.7)
Accrued liabilities			(0.5)
Customer deposits			(0.9)
Operating lease liabilities			(2.7)
Net assets acquired			31.0
Goodwill (e)			$	9.3

(a)     The initial purchase price, which is subject to certain post-closing adjustments, including working capital, was funded through existing cash on hand.

(b)     Represents the preliminary estimate of the fair value of the contingent earn-out payment as of the acquisition date, which is included in 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.

(c)    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 9 years.

(d)    Represents the preliminary fair value assigned to trade names, which are considered to be indefinite-lived intangible assets.

(e)    Goodwill, which is primarily tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.

TowHaul

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 of dollars)
Purchase price, inclusive of closing adjustments			$	43.3
Total consideration			43.3
Accounts receivable			1.5
Inventories			4.7
Properties and equipment			6.1
Customer relationships (a)			6.9
Trade names (b)			5.7
Other intangible assets			1.0
Accounts payable			(0.1)
Accrued liabilities			(0.5)
Customer deposits			(2.4)
Net assets acquired			22.9
Goodwill (c)			$	20.4

(a)    Represents the fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with an estimated useful life of 6 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.

Trackless

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 of dollars)
Purchase price, inclusive of closing adjustments			$	41.9
Estimated fair value of additional consideration (a)			4.3
Total consideration			46.2
Accounts receivable			4.7
Inventories			15.0
Prepaid expenses and other current assets			0.1
Rental equipment			1.6
Properties and equipment			4.4
Customer relationships (b)			11.1
Trade names (c)			4.6
Accounts payable			(1.5)
Accrued liabilities			(0.5)
Net assets acquired			39.5
Goodwill (d)			$	6.7

(a)    Represents the estimated fair value of the contingent earn-out payment as of the acquisition date, which is included in 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 approximately 12 years.

(c)    Represents the fair value assigned to trade names, which are considered to be indefinite-lived intangible assets.

(d)    Goodwill, which is primarily tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.

Blasters

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 of dollars)
Purchase price, inclusive of closing adjustments			$	13.0
Estimated fair value of additional consideration (a)			0.3
Total consideration			13.3
Accounts receivable			0.7
Inventories			4.6
Prepaid expenses and other current assets			0.1
Properties and equipment			0.9
Operating lease right-of-use assets (b)			1.1
Customer relationships (c)			4.4
Trade names (d)			2.3
Accounts payable			(0.9)
Accrued liabilities			(0.5)
Customer deposits			(0.5)
Operating lease liabilities (b)			(1.1)
Finance lease obligations			(0.1)
Net assets acquired			11.0
Goodwill (e)			$	2.3

(a)    Represents the estimated fair value of the contingent earn-out payment as of the acquisition date, included in 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)    In connection with the acquisition, the Company entered into a lease agreement for the Blasters facility, which is owned by affiliates of the sellers. The related-party lease contains a market-based annual rent of $0.2 million, an initial lease term of five years, and options to renew.

(c)    Represents the fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with an estimated useful life of approximately 10 years.

(d)    Represents the fair value assigned to trade names, which are considered to be indefinite-lived intangible assets.

(e)    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.

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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