Acquisitions (Tables)

3 Months Ended

Mar. 31, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed

The following table summarizes the preliminary purchase price allocation for the acquisition, which is subject to change as the Company continues to evaluate the fair value of the assets acquired and liabilities assumed:


(in millions)	Amount
Payment to equity holders	$	68.1
Transaction expenses paid on behalf of the seller	1.8
Aggregate purchase consideration	69.9

Identifiable assets acquired:
Cash, cash equivalents and restricted cash	2.1
Inventories	11.9
Other current assets	1.1
Property and equipment, net	14.9
Intangible assets, net	31.1
Total assets acquired	61.1
Total liabilities assumed	12.9
Total identifiable net assets	48.2
Goodwill	$	21.7


(in millions)	Amount
Payment to equity holders	$	176.6
Payment of TerraSource's outstanding debt	71.9
Transaction expenses paid on behalf of the seller	4.1

Aggregate purchase consideration	252.6

Identifiable assets acquired:
Cash, cash equivalents and restricted cash	3.9
Trade receivables, contract assets and other receivables, net	21.4
Inventories	58.4


Other current assets	10.8
Property and equipment, net	20.4
Intangible assets, net	127.2


Other long-term assets	6.3
Total assets acquired	248.4
Identifiable liabilities assumed:










Current liabilities	47.2
Long-term liabilities	37.1
Total liabilities assumed	84.3
Total identifiable net assets	164.1
Goodwill	$	88.5

Schedule of Business Combination, Intangible Asset, Acquired, Finite-Lived

The following table summarizes the identifiable definite-lived intangible assets acquired. All intangible assets acquired in the CWMF acquisition are subject to amortization:


(in millions except useful lives)	Fair Value		Estimated Useful Life (in years)
Customer relationships	$	25.9	7
Trade names	4.5		10
Other	0.7		5
Total identifiable definite-lived intangible assets acquired	$	31.1

The following table summarizes the identifiable definite-lived intangible assets acquired. All intangible assets acquired in the TerraSource acquisition are subject to amortization:


(in millions except useful lives)	Fair Value		Estimated Useful Life (in years)
Trade names	$	7.8	10
Patents	5.0		10
Customer relationships	110.0		10
Other	4.4		3 - 5
Total identifiable definite-lived intangible assets acquired	$	127.2

Schedule of Business Combination, Pro Forma Information


(in millions)	Three Months Ended March 31, 2025
Revenue	$	362.8
Net income	12.9