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BUSINESS COMBINATIONS (Tables) | 9 Months Ended
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Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Purchase Price Paid for Acquisitions | A summary of the purchase price and the purchase price allocation for acquisitions follows:
| Nine Months Ended September 30,
| 2024 |  | 2023
Purchase Price: |  |  |
Cash used in acquisitions, net of cash acquired | $ | 261,235 |  |  | $ | 842,635 |
Working capital settlements | (2,633) |  |  | — |
Holdbacks and additional consideration owed | 1,575 |  |  | 2,435 |
Total consideration | $ | 260,177 |  |  | $ | 845,070 |
Allocated as follows: |  |  |
Current assets | $ | 7,309 |  |  | $ | 19,297 |
Property, plant and equipment: |  |  |
Land | 1,310 |  |  | 6,760 |
Buildings and improvements | 1,004 |  |  | 29,636 |
Machinery and equipment | 56,396 |  |  | 175,309 |
Operating lease right-of-use assets | 5,222 |  |  | 11,732 |
Intangible assets: |  |  |
Trade names | 1,970 |  |  | — |
Covenants not-to-compete | 10,754 |  |  | 37,648 |
Customer relationships | 57,713 |  |  | 145,553 |
Deferred tax liability | (23,509) |  |  | (11,013) |
Current liabilities | (23,268) |  |  | (21,724) |
Operating lease liabilities, less current portion | (5,092) |  |  | (9,939) |
Other long-term liabilities | — |  |  | (828) |
Fair value of assets acquired and liabilities assumed | 89,809 |  |  | 382,431 |
Excess purchase price allocated to goodwill | $ | 170,368 |  |  | $ | 462,639 |
Schedule of Unaudited Pro forma Combined Information | Unaudited pro forma combined operational results prepared as though each acquisition completed since the beginning of the prior fiscal year had occurred as of January 1, 2023 is as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Revenues | $ | 419,593 |  |  | $ | 400,081 |  |  | $ | 1,195,575 |  |  | $ | 1,164,131 |
Operating income | $ | 23,891 |  |  | $ | 33,298 |  |  | $ | 51,151 |  |  | $ | 72,018 |
Net income | $ | 5,481 |  |  | $ | 16,765 |  |  | $ | 5,961 |  |  | $ | 26,723 |
Basic earnings per share attributable to common stockholders: |  |  |  |  |  |  |
Weighted average common shares outstanding | 58,808 |  |  | 57,962 |  |  | 58,318 |  |  | 54,228 |
Basic earnings per common share | $ | 0.09 |  |  | $ | 0.29 |  |  | $ | 0.10 |  |  | $ | 0.49 |
Diluted earnings per share attributable to common stockholders: |  |  |  |  |  |  |
Weighted average common shares outstanding | 58,921 |  |  | 58,062 |  |  | 58,415 |  |  | 54,325 |
Diluted earnings per common share | $ | 0.09 |  |  | $ | 0.29 |  |  | $ | 0.10 |  |  | $ | 0.49 |

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