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SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Information

Information related to net sales, Adjusted EBITDA, depreciation and amortization capital expenditures and assets and of the Company’s operations are summarized below (in thousands):

			Successor															Predecessor
			Year Ended December 31, 2022						November 9, 2021 Through December 31, 2021									January 1, 2021 Through November 8, 2021						Year Ended December 31, 2020
Net sales:
Fire safety			$	226,583					$	7,913								$	253,267					$	244,968
Specialty products			133,922						13,110									88,048						94,609
Total			$	360,505					$	21,023								$	341,315					$	339,577
Adjusted EBITDA:
Fire safety			$	77,365					$	(3,696)								$	121,589					$	112,034
Specialty products			48,026						1,838									21,703						23,977
Total segment Adjusted EBITDA			125,391						(1,858)									143,292						136,011
Less:
Depreciation and amortization			65,795						9,379									52,000						58,117
Interest and financing expense			42,585						6,352									39,087						42,017
Founders advisory fees - related party			(117,302)						652,990									—						—
Non-recurring expenses			6,885						5,580									4,845						2,379
Share-based compensation expense			14,649						4,821									156						—
Non-cash purchase accounting impact			24,796						6,125									—						—
(Gain) loss on contingent earn-out			(12,706)						198									2,965						—
Management fees			—						—									1,073						1,281
Contingent future payments			—						—									4,375						3,125
Unrealized foreign currency loss (gain)			3,462						1,006									4,026						(5,640)
Income (loss) before income taxes			$	97,227					$	(688,309)								$	34,765					$	34,732
Depreciation and amortization:
Fire safety			$	51,299					$	7,418								$	36,994					$	41,271
Specialty products			14,496						1,961									15,006						16,846
Total			$	65,795					$	9,379								$	52,000					$	58,117
																		December 31, 2022						December 31, 2021
Assets:
Fire safety																		$	1,958,633					$	2,111,635
Specialty products																		497,983						466,748
Total																		$	2,456,616					$	2,578,383

Schedule of Net Sales by Geographic Area

Net sales by geographical area is as follows (in thousands):

			Successor															Predecessor
			Year Ended December 31, 2022						November 9, 2021 Through December 31, 2021									January 1, 2021 Through November 8, 2021						Year Ended December 31, 2020
United States						74		%							52		%													75		%				82		%
International sales (1)			26						48									25						18
Total net sales			100		%				100		%							100		%				100		%

(1)Except for Spain, which represented 11% of sales in the 2021 Successor Period due to the shortened reporting period, the Company had no other operations in any individual international country that represented more than 10% of sales in the year ended December 31, 2022, 2021 Successor Period, 2021 Predecessor Period and 2020 Predecessor Period.

Schedule of Property, Plant and Equipment

Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows:

			Years
Buildings			30–40 years
Furniture and fixtures			1–8 Years
Machinery and equipment			1–26 Years
Vehicles			1–8 Years
Leasehold improvements			Shorter of remaining lease term or estimated useful life

Property, plant and equipment, net by geographical area consisted of the following (in thousands):

			December 31, 2022						December 31, 2021
United States			$	37,390					$	37,159
Canada			2,594						3,512
Germany			14,802						17,199
Other foreign jurisdictions			4,060						4,377
Total property, plant and equipment, net			$	58,846					$	62,247

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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

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