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Business Combinations (Tables) | 3 Months Ended
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Mar. 31, 2025
Business Acquisition [Line Items] |
Schedule of Intangible Assets And Amortization Periods | Identifiable intangible assets and their amortization periods are estimated as follows (in thousands):
| Cost Basis |  |  | Useful Life (years)
Flogistix |  |  |  |  |  |
Trade name | $ |  | 16,650 |  |  | 10
Developed Technology |  |  | 47,450 |  |  | 20
Customer relationships |  |  | 46,190 |  |  | 14
| $ |  | 110,290 |  |  |
FPS |  |  |  |  |  |
Trade name | $ |  | 39,000 |  |  | 10
Developed Technology |  |  | 39,000 |  |  | 10
Customer relationships |  |  | 116,000 |  |  | 9
| $ |  | 194,000 |  |  |
Schedule of Certain Unaudited Pro Forma Financial Information | The following table presents certain unaudited pro forma financial information for the three months ended March 31, 2024, as if the 2024 Business Combination had been completed on January 1, 2024 (in thousands):
| Three Months Ended March 31, |
|  | 2024 |
Pro forma net sales |  | $ |  | 171,966 |
Pro forma net income |  | $ |  | 31,941 |
Flogistix |
Business Acquisition [Line Items] |
Schedule of Assets Acquired and Liabilities Assumed | The following table presents the consideration transferred and preliminary fair value of Flogistix assets acquired and liabilities assumed in accordance with ASC 805 (in thousands):
Cash and cash equivalents | $ |  | 193 |
Accounts receivable - trade, net |  |  | 18,104 |
Inventory |  |  | 82,378 |
Prepaid expenses and other current assets |  |  | 2,551 |
Property, plant and equipment |  |  | 357,443 |
Intangible assets |  |  | 110,290 |
Finance lease right-of-use assets |  |  | 8,629 |
Operating lease right-of-use assets |  |  | 9,763 |
Other assets |  |  | 358 |
Accounts payable - Trade |  |  | (18,143 | )
Accrued expenses |  |  | (9,495 | )
Current portion of finance lease obligations |  |  | (2,356 | )
Current portion of operating lease obligations |  |  | (3,579 | )
Deferred revenue |  |  | (4,085 | )
Operating lease obligations, net of current portion |  |  | (6,172 | )
Finance lease obligations, net of current portion |  |  | (6,506 | )
Long-term debt |  |  | (205,933 | )
Identifiable net assets acquired |  |  | 333,440 |
Goodwill |  |  | 66,325 |
Total consideration transferred | $ |  | 399,765 |
FPS |
Business Acquisition [Line Items] |
Schedule of Assets Acquired and Liabilities Assumed | The following table presents the consideration transferred and preliminary fair value of FPS assets acquired and liabilities assumed in accordance with ASC 805 (in thousands):
Cash and cash equivalents | $ |  | 2,895 |
Accounts receivable - trade, net |  |  | 42,999 |
Inventory |  |  | 61,194 |
Prepaid expenses and other current assets |  |  | 1,565 |
Property, plant and equipment |  |  | 28,608 |
Intangible assets |  |  | 194,000 |
Finance lease right-of-use assets |  |  | 6,102 |
Operating lease right-of-use assets |  |  | 5,151 |
Other assets |  |  | 300 |
Accounts payable - Trade |  |  | (11,119 | )
Accrued expenses |  |  | (15,534 | )
Current portion of finance lease obligations |  |  | (3,225 | )
Current portion of operating lease obligations |  |  | (2,179 | )
Operating lease obligations, net of current portion |  |  | (2,972 | )
Finance lease obligations, net of current portion |  |  | (2,877 | )
Long-term debt |  |  | (29,930 | )
Identifiable net assets acquired |  |  | 274,978 |
Goodwill |  |  | 179,885 |
Total consideration transferred | $ |  | 454,863 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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