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SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023						Year Ended December 31, 2022						November 9, 2021 Through December 31, 2021									January 1, 2021 Through November 8, 2021
Net sales:
Fire safety			$	225,554					$	226,583					$	7,913								$	253,267
Specialty products			96,554						133,922						13,110									88,048
Total			$	322,108					$	360,505					$	21,023								$	341,315
Adjusted EBITDA:
Fire safety			$	76,214					$	77,365					$	(3,696)								$	121,589
Specialty products			20,573						48,026						1,838									21,703
Total segment Adjusted EBITDA			96,787						125,391						(1,858)									143,292
Less:
Depreciation and amortization			64,855						65,795						9,379									52,000
Interest and financing expense			41,378						42,585						6,352									39,087
Founders advisory fees - related party			(108,481)						(117,302)						652,990									—
Intangible impairment			40,738						—						—									—
Non-recurring expenses			4,046						6,885						5,580									4,845
Share-based compensation expense			1,596						14,649						4,821									156
Non-cash purchase accounting impact			—						24,796						6,125									—
(Gain) loss on contingent earn-out			(7,273)						(12,706)						198									2,965
Management fees			—						—						—									1,073
Contingent future payments			—						—						—									4,375
Unrealized foreign currency (gain) loss			(1,655)						3,462						1,006									4,026
Income (loss) before income taxes			$	61,583					$	97,227					$	(688,309)								$	34,765
Depreciation and amortization:
Fire safety			$	51,178					$	51,299					$	7,418								$	36,994
Specialty products			13,677						14,496						1,961									15,006
Total			$	64,855					$	65,795					$	9,379								$	52,000
															December 31, 2023									December 31, 2022
Assets:
Fire safety															$	1,837,146								$	1,958,633
Specialty products															478,276									497,983
Total															$	2,315,422								$	2,456,616

Schedule of Net Sales by Geographic Area

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

			Successor																					Predecessor
			Year Ended December 31, 2023						Year Ended December 31, 2022						November 9, 2021 Through December 31, 2021									January 1, 2021 Through November 8, 2021
United States						65		%										74		%							52		%							75		%
Canada			14						5						1									7
Other international sales (1)			21						21						47									18
Total net sales			100		%				100		%				100		%							100		%

(1)    In the 2021 Successor Period, Spain represented 11% of sales due to the shortened reporting period. Except for Canada, the Company had no other operations in any individual international country that represented more than 10% of sales in the years ended December 31, 2023 and 2022, 2021 Successor Period and 2021 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, 2023						December 31, 2022
United States			$	38,709					$	37,390
Canada			2,303						2,594
Germany			14,376						14,802
Other foreign jurisdictions			4,014						4,060
Total property, plant and equipment, net			$	59,402					$	58,846

X

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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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