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Intangible Assets and Goodwill (Tables) | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of Intangible Assets | A summary of intangible assets as of March 31, 2025 and December 31, 2024 is as follows.
|  | March 31, 2025 |
(in thousands) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer relationships |  | $ | 145,966 |  |  | $ | (50,052 | ) |  | $ | 95,914 |
Non-compete agreements |  |  | 500 |  |  |  | (411 | ) |  |  | 89 |
Trade names |  |  | 18,280 |  |  |  | (9,537 | ) |  |  | 8,743 |
Technology, Patents, and Other |  |  | 26,133 |  |  |  | (26,133 | ) |  |  | — |
Total |  | $ | 190,879 |  |  | $ | (86,133 | ) |  | $ | 104,746 |
|  | December 31, 2024 |
(in thousands) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer relationships |  | $ | 145,966 |  |  | $ | (46,693 | ) |  | $ | 99,273 |
Non-compete agreements |  |  | 500 |  |  |  | (393 | ) |  |  | 107 |
Trade names |  |  | 18,280 |  |  |  | (9,297 | ) |  |  | 8,983 |
Technology, Patents, and Other |  |  | 26,133 |  |  |  | (26,133 | ) |  |  | — |
Total |  | $ | 190,879 |  |  | $ | (82,516 | ) |  | $ | 108,363 |
Schedule of Goodwill | The following table presents a roll-forward of goodwill for the periods ended March 31, 2025 and December 31, 2024:
(in thousands) |  | Goodwill, Gross |  |  | Accumulated Impairment |  |  | Goodwill, Net |
Balance at December 31, 2023 |  | $ | 94,436 |  |  | $ | (70,504 | ) |  | $ | 23,932 |
Additions - DWS Acquisition |  |  | 36,244 |  |  |  | — |  |  |  | 36,244 |
Balance at December 31, 2024 |  | $ | 130,680 |  |  | $ | (70,504 | ) |  | $ | 60,176 |
Additions - SCF Acquisition |  |  | 15,402 |  |  |  | — |  |  |  | 15,402 |
Foreign currency translation adjustment |  |  | (10 | ) |  |  | — |  |  |  | (10 | )
Balance at March 31, 2025 |  | $ | 146,072 |  |  | $ | (70,504 | ) |  | $ | 75,568 |

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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
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