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BUSINESS ACQUISITIONS | 3 Months Ended
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Apr. 03, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
BUSINESS ACQUISITIONS | BUSINESS ACQUISITIONS 2025 Acquisitions Precision Coating LLC Acquisition On January 7, 2025, the Company acquired substantially all of the assets and assumed certain liabilities of certain subsidiaries of Katahdin Industries, Inc., including its main operating subsidiary, Precision Coating LLC (collectively “Precision”). Prior to the acquisition, Precision was a privately-held manufacturer specializing in high value surface coating technology platforms, including fluoropolymer, anodic coatings, ion treatment solutions and laser processing. The total consideration transferred was $153.5 million, including contingent consideration, working capital and other purchase price adjustments. The Company recorded contingent consideration with an estimated acquisition date fair value of $1.4 million, representing the Company’s obligation, under the purchase agreement, to make an additional payment of up to $5.0 million based on a specified revenue growth milestone being met in 2025. The revenue growth milestone for Precision was not met for 2025, and the Company determined that no additional consideration was required to be paid. VSi Parylene Acquisition On February 28, 2025, the Company acquired substantially all of the assets and assumed certain liabilities of Vertical Solutions, Inc., d/b/a VSi Parylene (“VSi”). Prior to the acquisition VSi was a privately-held full-service provider of parylene coating solutions, primarily focused on complex medical device applications. The total consideration transferred was $24.0 million, including shares of Integer’s common stock (“Common Stock”) with a fair value of $4.0 million, contingent consideration, working capital and other purchase price adjustments. The Company recorded contingent consideration with an estimated acquisition date fair value of $1.1 million, representing the Company’s obligation, under the purchase agreement, to make additional payments of up to $4.0 million, in the aggregate, based on specified annual revenue growth milestones being met through 2028. See Note 13, “Financial Instruments and Fair Value Measurements,” for additional information related to the fair value measurement of the contingent consideration. Biocoat Incorporated On December 4, 2025, the Company acquired certain assets of Biocoat Incorporated (“Biocoat”). Prior to the acquisition, Biocoat was a privately-held manufacturer specializing in high value surface coating technology platforms, including UV and thermal cure hydrophilic coatings. The total consideration transferred was $15.0 million, including contingent consideration, working capital and other purchase price adjustments. The Company recorded contingent consideration with an estimated acquisition date fair value of $7.0 million, representing the Company’s obligation, under the purchase agreement, to make an additional payment of up to $7.0 million based on specified operational milestones being met after close. See Note 13, “Financial Instruments and Fair Value Measurements,” for additional information related to the fair value measurement of the contingent consideration. The Company has finalized the purchase price allocation for Precision and VSi and has preliminarily estimated fair values for the assets purchased and liabilities assumed as of the date of the Biocoat acquisition. The determination of estimated fair value required management to make significant estimates and assumptions based on information that was available at the time that the condensed consolidated financial statements were prepared. The amounts reported are considered preliminary as the Company is completing the valuations that are required to allocate the purchase prices in areas such as property and equipment, intangible assets, liabilities and goodwill. As a result, the preliminary allocation of the purchase price may change in the future, including in ways which could be material. During the first quarter of 2026, certain immaterial measurement period adjustments related to Biocoat were made which resulted in a decrease to property, plant and equipment and an increase to other noncurrent assets. These measurement period adjustments resulted in an immaterial decrease in goodwill when compared to the balance as of December 31, 2025. The changes to the preliminary fair value estimates resulting from the measurement period adjustments recorded during the first quarter of 2026 did not have a material impact to the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income. (2.) BUSINESS ACQUISITIONS (Continued) The following table summarizes the final purchase price for Precision and VSi and preliminary purchase price allocation for Biocoat (in thousands):
| Precision |  | VSi |  | Biocoat |  | Total
Fair value of net assets acquired |  |  |  |  |  |  |
Current assets (excluding inventory) | $ | 11,609 |  |  | $ | 1,982 |  |  | $ | — |  |  | $ | 13,591 |
Inventory | 4,019 |  |  | 1,018 |  |  | — |  |  | 5,037 |
Property, plant and equipment | 13,674 |  |  | 2,732 |  |  | 1,020 |  |  | 17,426 |
Goodwill | 50,823 |  |  | 5,265 |  |  | 10,334 |  |  | 66,422 |
Intangible assets: |  |  |  |  |  |  |
Customer relationships | 52,000 |  |  | 7,700 |  |  | 520 |  |  | 60,220 |
Technology | 20,700 |  |  | 5,900 |  |  | 3,100 |  |  | 29,700 |
Operating lease assets | 13,862 |  |  | 1,505 |  |  | 128 |  |  | 15,495 |
Other noncurrent assets | 43 |  |  | — |  |  | 32 |  |  | 75 |
Current liabilities | (4,341) |  |  | (883) |  |  | (87) |  |  | (5,311) |
Operating lease liabilities (noncurrent) | (8,922) |  |  | (1,256) |  |  | (47) |  |  | (10,225) |
Fair value of net assets acquired | $ | 153,467 |  |  | $ | 23,963 |  |  | $ | 15,000 |  |  | $ | 192,430 |

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