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Nature of Operations and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 28, 2025

Accounting Policies [Abstract]

Schedule of Supplemental Cash Flow Information

Supplemental Cash Flow Information

						Six Months Ended
(In thousands)						June 28, 2025						June 29, 2024
Cash Paid for Interest						$	6,993					$	9,703
Cash Paid for Income Taxes, Net of Refunds						$	23,825					$	23,286
Non-Cash Investing Activities:
Fair value of assets acquired						$	—					$	341,105
Fair value of liabilities assumed						$	—					$	31,894
Fair value of noncontrolling interest acquired						$	—					$	9,319
Purchases of property, plant, and equipment in accounts payable						$	1,090					$	618

						Six Months Ended
(In thousands)						June 28, 2025						June 29, 2024
Non-Cash Financing Activities:
Issuance of Company common stock upon vesting of restricted stock units						$	5,450					$	5,140
Dividends declared but unpaid						$	4,004					$	3,758

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the accompanying condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows:

(In thousands)						June 28, 2025						June 29, 2024						December 28, 2024						December 30, 2023
Cash and cash equivalents						$	95,321					$	73,805					$	94,660					$	103,832
Restricted cash						1,867						1,373						1,286						2,621
Total Cash, Cash Equivalents, and Restricted Cash						$	97,188					$	75,178					$	95,946					$	106,453

Schedule of Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the accompanying condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows:

(In thousands)						June 28, 2025						June 29, 2024						December 28, 2024						December 30, 2023
Cash and cash equivalents						$	95,321					$	73,805					$	94,660					$	103,832
Restricted cash						1,867						1,373						1,286						2,621
Total Cash, Cash Equivalents, and Restricted Cash						$	97,188					$	75,178					$	95,946					$	106,453

Schedule of Inventories

The components of inventories are as follows:

						June 28, 2025						December 28, 2024
(In thousands)
Raw Materials						$	65,433					$	60,750
Work in Process						35,957						27,692
Finished Goods (includes $516 and $554 at customer locations)						67,198						57,650
						$	168,588					$	146,092

Schedule of Acquired Intangible Assets

Acquired intangible assets by major asset class are as follows:

(In thousands)						Gross						Accumulated Amortization						Currency Translation						Net
June 28, 2025
Definite-Lived
Customer relationships						$	334,168					$	(136,922)					$	(4,440)					$	192,806
Product technology						92,206						(52,084)						(2,171)						37,951
Tradenames						16,534						(5,530)						(369)						10,635
Other						25,221						(22,020)						(588)						2,613
						468,129						(216,556)						(7,568)						244,005
Indefinite-Lived
Tradenames						29,059						—						(91)						28,968
Acquired Intangible Assets						$	497,188					$	(216,556)					$	(7,659)					$	272,973

(In thousands)						Gross						Accumulated Amortization						Currency Translation						Net
December 28, 2024
Definite-Lived
Customer relationships						$	334,066					$	(127,664)					$	(8,607)					$	197,795
Product technology						92,106						(49,294)						(3,245)						39,567
Tradenames						16,536						(5,084)						(481)						10,971
Other						25,221						(21,280)						(668)						3,273
						467,929						(203,322)						(13,001)						251,606
Indefinite-Lived
Tradenames						29,059						—						(1,171)						27,888
Acquired Intangible Assets						$	496,988					$	(203,322)					$	(14,172)					$	279,494

Schedule of Changes in the Carrying Amount of Goodwill

The changes in the carrying amount of goodwill by reportable segment are as follows:

(In thousands)						Flow Control						Industrial Processing						Material Handling						Total
Balance at December 28, 2024
Gross balance						$	132,205					$	243,066					$	189,436					$	564,707
Accumulated impairment losses						—						(85,538)						—						(85,538)
Net balance						132,205						157,528						189,436						479,169
2025 Activity
Measurement period adjustments for 2024 acquisitions						(173)						—						321						148
Currency translation						7,598						5,856						5,053						18,507
Total 2025 activity						7,425						5,856						5,374						18,655
Balance at June 28, 2025
Gross balance						139,630						248,922						194,810						583,362
Accumulated impairment losses						—						(85,538)						—						(85,538)
Net balance						$	139,630					$	163,384					$	194,810					$	497,824

Schedule of Changes in the Carrying Amount of Product Warranty Obligations

The changes in the carrying amount of product warranty obligations are as follows:

						Six Months Ended
(In thousands)						June 28, 2025						June 29, 2024
Balance at Beginning of Year						$	10,664					$	8,154
Provision charged to expense						2,296						2,048
Usage						(3,623)						(1,326)
Acquisitions						—						472
Currency translation						644						(219)
Balance at End of Period						$	9,981					$	9,129

Schedule of Revenue Recognition Method and Disaggregation of Revenue by Product Type and Geography

The following table presents revenue by revenue recognition method:

						Three Months Ended												Six Months Ended
						June 28,						June 29,						June 28,						June 29,
(In thousands)						2025						2024						2025						2024
Point in Time						$	234,836					$	245,735					$	452,504					$	462,228
Over Time						20,431						29,030						41,973						61,512
						$	255,267					$	274,765					$	494,477					$	523,740

The following table presents the disaggregation of revenue by product type and geography:

						Three Months Ended												Six Months Ended
						June 28,						June 29,						June 28,						June 29,
(In thousands)						2025						2024						2025						2024
Revenue by Product Type:
Parts and consumables						$	181,783					$	172,745					$	361,091					$	343,875
Capital						73,484						102,020						133,386						179,865
						$	255,267					$	274,765					$	494,477					$	523,740
Revenue by Geography (based on customer location):
North America						$	157,968					$	172,543					$	317,838					$	329,034
Europe						63,230						63,193						112,571						118,980
Asia						20,941						24,970						39,643						47,524
Rest of world						13,128						14,059						24,425						28,202
						$	255,267					$	274,765					$	494,477					523,740

Schedule of Contract Balances From Contracts With Customers

The following table presents contract balances from contracts with customers:

						June 28, 2025						December 28, 2024
(In thousands)
Contract Assets						$	11,105					$	18,408
Contract Liabilities						$	57,717					$	46,062

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