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Note 23 - Subsequent Event
6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Subsequent Events [Text Block]

NOTE 23 SUBSEQUENT EVENTS

 

On July 1, 2025, the Company acquired Roundhouse Electric & Equipment Co., Inc. ("Roundhouse"), a leading provider of industrial-scale electric motor maintenance, repair, testing, and sales solutions, for a purchase price of $22.4 million, plus transaction expenses and a working capital adjustment. The transaction closed on July 1, 2025, and was funded with $10.3 million in cash on hand and $11.0 million from a senior credit facility.

 

On August 1, 2025, the Company acquired 100% of the outstanding equity interests of AAA Flexible Pipe Cleaning Corp. (“Advanced Plumbing and Drain”), a provider of commercial and residential plumbing services for $2.8 million, plus transaction expenses and a working capital adjustment, in cash and a $0.5 million seller note. The Company will also pay additional contingent consideration, only to the extent earned, in an aggregate amount of up to $1.5 million, which is subject to certain conditions, including the successful achievement of certain financial metrics for Advanced Plumbing and Drain during the two-year period following the acquisition date.