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Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2024
EnviroCare International [Member] |
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the date of closing.
(in thousands) |  |  |
Current assets (including cash of $374 and accounts receivable of $405) |  | $ | 3,111 |
Property and equipment |  |  | 17 |
Intangible - finite life |  |  | 7,250 |
Goodwill |  |  | 7,579 |
Total assets acquired |  |  | 17,957 |
Current liabilities assumed |  |  | (4,949 | )
Net assets acquired |  | $ | 13,008 |
General Rubber LLC [Member] |
Schedule of Unaudited Pro Forma Financial Information | The following unaudited pro forma financial information represents the Company’s results of operations as if these acquisitions had occurred at the beginning of the fiscal year prior to the acquisition:
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
(in thousands, except per share data) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net sales |  | $ | 136,533 |  |  |  | 156,503 |  |  | $ | 406,507 |  |  |  | 420,078 |
Net income attributable to CECO Environmental Corp. |  |  | 2,838 |  |  |  | 4,257 |  |  |  | 9,910 |  |  |  | 11,881 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.08 |  |  | $ | 0.12 |  |  | $ | 0.28 |  |  | $ | 0.34 |
Diluted |  | $ | 0.08 |  |  | $ | 0.12 |  |  | $ | 0.27 |  |  | $ | 0.34 |
Kemco Systems Co Llc [Member] |
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of closing.
(in thousands) |  |  |
Current assets (including accounts receivable of $2,328) |  | $ | 8,902 |
Property and equipment |  |  | 341 |
Right-of-use assets from operating leases |  |  | 1,602 |
Intangible - finite life |  |  | 11,610 |
Goodwill |  |  | 11,115 |
Other assets |  |  | 16 |
Total assets acquired |  |  | 33,586 |
Current liabilities assumed |  |  | (6,853 | )
Other liabilities assumed |  |  | (404 | )
Net assets acquired |  | $ | 26,329 |
Malvar Engineering Limited [Member] |
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of closing.
(in thousands) |  |  |
Current assets (including accounts receivable of $2,467) |  | $ | 3,240 |
Property and equipment |  |  | 635 |
Intangible - finite life |  |  | 1,778 |
Goodwill |  |  | 5,296 |
Total assets acquired |  |  | 10,949 |
Current liabilities assumed |  |  | (4,860 | )
Deferred income tax liability |  |  | (961 | )
Net assets acquired |  | $ | 5,128 |
Transcend Solution [Member] |
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of closing.
(in thousands) |  |  |
Current assets (including cash of $52 and accounts receivable of $1,493) |  | $ | 2,614 |
Property and equipment |  |  | 1,153 |
Intangible - finite life |  |  | 8,930 |
Goodwill |  |  | 10,839 |
Other assets |  |  | 231 |
Total assets acquired |  |  | 23,767 |
Current liabilities assumed |  |  | (1,203 | )
Deferred tax liability |  |  | (168 | )
Net assets acquired |  | $ | 22,396 |

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