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Business Combinations (Tables)
9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Combinations
Below is a summary of acquisitions in aggregate by year, including revenue and net income since date of acquisition shown for the year of acquisition. Net income includes amortization and taxes when appropriate.
For the three and nine months ended September 30, 2025 (in millions):         
Three months ended September 30, 2025Nine months ended September 30, 2025
2025 AcquisitionsDateAcquisition TypeCash PaidSeller
Obligations
Total Purchase PriceRevenueNet Income (Loss)RevenueNet Income
Carolina Precision Fibers9/8/2025Asset$21.0 $2.0 $23.0 $1.9 $0.2 $1.9 $0.2 
OtherVariousAsset11.3 0.6 11.9 2.0 (0.1)3.9 — 
$32.3 $2.6 $34.9 $3.9 $0.1 $5.8 $0.2 
For the three and nine months ended September 30, 2024 (in millions):
Three months ended September 30, 2024Nine months ended September 30, 2024
2024 AcquisitionsDateAcquisition TypeCash PaidSeller
Obligations
Total Purchase PriceRevenueNet IncomeRevenueNet Income
Euroview7/29/2024Asset$19.2 $1.6 $20.8 $3.1 $0.4 $3.1 $0.4 
OtherVariousAsset22.7 2.2 24.9 8.3 0.5 13.5 0.8 
$41.9 $3.8 $45.7 $11.4 $0.9 $16.6 $1.2 
Schedule of Estimated Fair Value of Assets Acquired and Liabilities Assumed
The estimated fair values of the assets acquired and liabilities assumed for the acquisitions, as well as total purchase prices and cash paid, approximated the following (in millions):
Nine months ended September 30, 2025Nine months ended September 30, 2024
Carolina Precision FibersOtherTotalEuroviewOtherTotal
Estimated fair values:
Accounts receivable$1.8 $— $1.8 $— $1.0 $1.0 
Inventories1.0 0.3 1.3 1.7 1.4 3.1 
Other current assets— 0.0 0.0 — — — 
Property and equipment3.8 0.9 4.7 0.7 2.3 3.0 
Operating lease right-of-use asset0.6 0.2 0.8 0.7 0.2 0.9 
Intangibles10.1 7.1 17.2 9.8 13.7 23.5 
Goodwill7.0 3.6 10.6 9.0 7.2 16.2 
Other non-current assets0.3 0.0 0.3 — 0.2 0.2 
Accounts payable and other current liabilities(1.3)0.0 (1.3)(0.7)(1.0)(1.7)
Other long-term liabilities(0.3)(0.2)(0.5)(0.4)(0.1)(0.5)
Fair value of assets acquired and purchase price23.0 11.9 34.9 20.8 24.9 45.7 
Less seller obligations2.0 0.6 2.6 1.6 2.2 3.8 
Cash paid$21.0 $11.3 $32.3 $19.2 $22.7 $41.9 
Schedule of Estimates of Acquired Intangible Assets
Estimates of acquired intangible assets related to the acquisitions are as follows (in millions):
 
For the nine months ended September 30,
 20252024
Acquired intangibles assetsEstimated
Fair Value
Weighted Average Estimated
Useful Life (yrs.)
Estimated
Fair Value
Weighted Average Estimated
Useful Life (yrs.)
Customer relationships$12.3 12$16.0 12
Trademarks and tradenames4.0 156.4 15
Non-competition agreements0.6 51.1 5
Backlog0.3 1— 0
Schedule of Pro Forma Results of Operations The unaudited pro forma information is not necessarily indicative of the results that we would have achieved had the transactions actually taken place on January 1, 2024 and 2023, respectively, and the unaudited pro forma information does not purport to be indicative of future financial operating results (in millions, except per share data):
 Unaudited pro forma for the three months ended September 30,Unaudited pro forma for the nine months ended September 30,
 2025202420252024
Net revenue$782.6 $783.0 $2,239.3 $2,274.3 
Net income75.0 70.4 190.6 196.4 
Basic net income per share2.77 2.52 6.98 6.99 
Diluted net income per share2.76 2.50 6.95 6.95