Acquisition |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Business Combination [Abstract] | |
| Acquisition | Acquisition In April 2025, the Company completed the acquisition of an equipment service provider for approximately $4.3 million in cash. At closing, $0.3 million was held in escrow for the settlement of potential obligations. This acquisition broadens the Company's value-added offerings in certain key equipment categories. The Company prepared a preliminary purchase price fair value allocation to the assets acquired and liabilities assumed in the acquisition. Total net identifiable assets acquired totaled $3.3 million, including $0.7 million in Customer Lists, and total goodwill acquired was $1.0 million. These fair value allocations have not yet been finalized, principally related to the measurement of the acquired net working capital and the valuation of the acquired intangible assets. Amounts could change, as we finalize the valuations of the assets acquired and liabilities assumed. The amount allocated to goodwill reflects the benefits the Company expects to realize from the growth of the acquisition’s operations. The accounts acquired are included in the accompanying consolidated financial statements from the date of acquisition. For the three and six months ended June 30, 2025 revenues and net income generated from this acquisition were immaterial.
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