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Segment Information (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Financial Information of Reportable Segments and Segment Revenue and the Elimination of Intersegment Revenue and Total Assets By Segment

Financial information for the Company’s segments and reconciliations of that information to the unaudited condensed consolidated financial statements is presented below.

			Three Months Ended March 31,
(in thousands)			2026						2025
Revenue
Lawson			$	123,736					$	120,462
TestEquity			204,176						188,773
Gexpro Services			117,648						118,905
Canada Branch Division			51,022						50,543
Intersegment revenue elimination			(587)						(654)
Total revenue			$	495,995					$	478,029
Cost of goods sold
Lawson			$	58,749					$	52,228
TestEquity			158,582						147,016
Gexpro Services			81,891						81,799
Canada Branch Division			33,812						33,646
Intersegment cost of goods sold elimination			(378)						(640)
Total cost of goods sold			$	332,656					$	314,049
Selling, general and administrative expenses
Lawson			$	61,931					$	61,918
TestEquity			41,547						37,627
Gexpro Services			27,356						25,865
Canada Branch Division			16,824						16,246
All Other			2,051						2,227
Total operating expenses			$	149,709					$	143,883
Operating income (loss)
Lawson			$	3,056					$	6,316
TestEquity			4,047						4,130
Gexpro Services			8,401						11,241
Canada Branch Division			386						651
All Other			(2,260)						(2,241)
Total operating income (loss)			$	13,630					$	20,097
Reconciliation to income (loss) before income taxes
Interest expense			$	(12,171)					$	(14,215)
Change in fair value of earnout liabilities			—						(1,000)
Other income (expense), net			(702)						632
Income (loss) before income taxes			$	757					$	5,514

Segment revenue and the elimination of intersegment revenue was as follows:

(in thousands)						Lawson						TestEquity						Gexpro Services						Canada Branch Division						Elimination						Total
Three Months Ended March 31, 2026
Revenue from external customers						$	123,689					$	203,764					$	117,543					$	50,999					$	—					$	495,995
Intersegment revenue						47						412						105						23						(587)						—
Revenue						$	123,736					$	204,176					$	117,648					$	51,022					$	(587)					$	495,995
Three Months Ended March 31, 2025
Revenue from external customers						$	120,440					$	188,456					$	118,593					$	50,540					$	—					$	478,029
Intersegment revenue						22						317						312						3						(654)						—
Revenue						$	120,462					$	188,773					$	118,905					$	50,543					$	(654)					$	478,029

Total assets by segment and long-lived assets by geographic area were as follows:

(in thousands)			March 31, 2026						December 31, 2025
Total assets by segment
Lawson			$	539,809					$	548,169
TestEquity			638,485						624,829
Gexpro Services			371,250						351,552
Canada Branch Division			224,182						210,625
All Other			16,278						13,446
Total			$	1,790,004					$	1,748,621
Long-lived assets by geographic area(1)
United States			$	783,709					$	796,554
Canada			152,159						142,183
Europe			30,808						31,006
Pacific Rim			5,733						5,967
Latin America			3,058						3,224
Other			—						—
Total			$	975,467					$	978,934

(1)    Long-lived assets include property, plant and equipment, rental equipment, goodwill, intangibles, right of use operating lease assets, and other assets.

Capital expenditures and depreciation and amortization by segment were as follows:

			Three Months Ended March 31,
(in thousands)			2026						2025
Capital expenditures
Lawson			$	1,367					$	3,976
TestEquity			6,461						3,188
Gexpro Services			716						987
Canada Branch Division			368						356
All Other			—						—
Total			$	8,912					$	8,507
Depreciation and amortization
Lawson			$	6,714					$	6,552
TestEquity			8,280						8,128
Gexpro Services			3,129						3,453
Canada Branch Division			1,601						1,846
All Other			—						—
Total			$	19,724					$	19,979

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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