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Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Goodwill and Intangible Assets

Note 6 – Goodwill and Intangible Assets

Goodwill

Changes in the carrying amount of goodwill by segment were as follows:

(in thousands)						Lawson						TestEquity						Gexpro Services						Canada Branch Division						Total
Balance at December 31, 2025						$	192,875					$	164,880					$	57,974					$	52,176					$	467,905
Acquisitions(1)						—						—						—						8,506						8,506
Impact of foreign exchange rates						(201)						—						(430)						(2,117)						(2,748)
Balance at June 30, 2026						$	192,674					$	164,880					$	57,544					$	58,565					$	473,663

(1)    Refer to Note 3 – Business Acquisitions for information related to measurement period adjustments.

Intangible Assets

The gross carrying amount and accumulated amortization for definite-lived intangible assets were as follows:

			June 30, 2026																		December 31, 2025
(in thousands)			Gross Carrying Amount						Accumulated Amortization						Net Carrying Value						Gross Carrying Amount						Accumulated Amortization						Net Carrying Value
Trade names			$	142,428					$	(68,692)					$	73,736					$	141,637					$	(60,640)					$	80,997
Customer relationships			275,610						(144,207)						131,403						274,844						(131,341)						143,503
Other (1)			8,244						(6,980)						1,264						7,894						(6,339)						1,555
Total			$	426,282					$	(219,879)					$	206,403					$	424,375					$	(198,320)					$	226,055

(1)    Other primarily consists of non-compete agreements.

Amortization expense for definite-lived intangible assets is included in Selling, general and administrative expenses in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) as follows:

			Three Months Ended June 30,												Six Months Ended June 30,
(in thousands)			2026						2025						2026						2025
Amortization expense for intangible assets			$	11,148					$	11,650					$	22,152					$	23,235

The estimated aggregate amortization expense for the remaining year 2026 and each of the next four years and thereafter are as follows:

(in thousands)						Amortization
Remaining 2026						$	22,015
2027						38,970
2028						34,572
2029						30,972
2030						21,186
Thereafter						58,688
Total						$	206,403

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- References

No definition available.

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- Definition

The entire disclosure for intangible asset and goodwill. Includes, but is not limited to, finite- and indefinite-lived intangible assets, capitalized cost for internal-use software and software to be sold, leased, or marketed.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-20/tableOfContent

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