v3.25.4
Business Segment and Geographical Information
 12 Months Ended
Jan. 03, 2026
Segment Reporting [Abstract]  
Business Segment and Geographical Information Business Segment and Geographical Information
The Company is a global supplier of technologies and engineered systems that drive Sustainable Industrial Processing and operates in three reportable segments consisting of its Flow Control segment, Industrial Processing segment, and Material Handling segment. The Company aggregated its operating segments into its reportable segments where they contained similar products and economic characteristics, and shared similar types of customers, and production and distribution methods. The Flow Control segment is comprised of its fluid-handling and its doctoring, cleaning, & filtration operating segments, and the Industrial Processing segment is comprised of its wood processing and its fiber processing operating segments.
Each of our reportable segments is led by a segment vice president, who reports directly to the Chief Executive Officer (CEO). The Company has determined that its CEO is its Chief Operating Decision Maker (CODM) who is responsible for assessing performance and allocating resources. The CODM utilizes segment gross profit margin and segment operating income margin to evaluate the performance of each segment and allocate resources effectively. The CODM primarily reviews these profit measures in comparison to forecasts, trends, key performance targets, and results of industry peers to assess profitability, identify areas for improvement, and make strategic decisions regarding investments and resource allocation within each segment.
The following is a brief description of the Company's reportable segments:
•Flow Control – Custom-engineered products, systems, and technologies that control the flow of fluids used in industrial and commercial applications to keep critical processes running efficiently in the packaging, paper and tissue, food, energy, defense, and numerous other industrial sectors. The Company's primary products include rotary sealing devices, steam systems, expansion joints, doctor systems, roll and fabric cleaning devices, and filtration and fiber recovery systems.
•Industrial Processing – Equipment, machinery, and technologies used to recycle paper and paperboard and process timber, and optimize industrial steam boiler efficiency for use in the packaging, paper, tissue, wood products and food processing industries, among others. The Company's primary products include fiber processing systems and recycling equipment, chemical pulping equipment, debarkers, stranders, chippers, custom-engineered knife systems, industrial boiler cleaning technologies, and continuous dewatering equipment.
•Material Handling – Products and engineered systems used to handle bulk and discrete materials for secondary processing or transport in the aggregates, mining, food, and waste management industries, among others. The Company's primary products include conveying and vibratory equipment and balers. In addition, the Company manufactures and sells biodegradable, absorbent granules used as carriers in agricultural, home lawn and garden, professional lawn, turf and ornamental applications, and for oil and grease absorption.
The following tables present financial information for the Company's reportable segments:
January 3, 2026
(In thousands) Flow ControlIndustrial ProcessingMaterial HandlingTotal
Revenue$382,866 $409,489 $259,893 $1,052,248 
Cost of revenue
182,450 233,300 160,770 576,520 
Gross Profit200,416 176,189 99,123 475,728 
Gross Profit Margin52.3%43.0%38.1%45.2%
Operating Expenses:
Selling expenses58,422 44,841 27,273 130,536 
General and administrative expenses37,755 38,408 17,837 94,000 
Research and development expenses
5,580 7,441 2,243 15,264 
Intangible asset amortization expense5,616 11,764 10,915 28,295 
Other segment items (a)235 5,987 (386)5,836 
Segment Operating Income
$92,808 $67,748 $41,241 $201,797 
Segment Operating Income Margin
24.2%16.5%15.9% 
Corporate Expenses (b)
(44,509)
Interest Expense, Net (c)
(13,642)
Other Expense, Net (c)
(61)
Income Before Provision for Income Taxes
$143,585 
(In thousands)
 
Flow ControlIndustrial ProcessingMaterial HandlingCorporateTotal
Other Segment Disclosures
Depreciation expense (d)
$7,536 $10,640 $4,697 $51 $22,924 
Segment assets (e)450,911 826,062 411,813 23,392 1,712,178 
Capital expenditures6,051 5,543 5,309 145 17,048 

December 28, 2024
(In thousands) Flow ControlIndustrial ProcessingMaterial HandlingTotal
Revenue$371,177 $432,738 $249,469 $1,053,384 
Cost of revenue
176,340 252,068 158,828 587,236 
Gross Profit194,837 180,670 90,641 466,148 
Gross Profit Margin52.5%41.8%36.3%44.3%
Operating Expenses:
 
Selling expenses
 
55,326 42,008 24,592 121,926 
General and administrative expenses
 
35,686 33,638 16,668 85,992 
Research and development expenses
5,874 6,231 2,213 14,318 
Intangible asset amortization expense5,260 11,094 12,686 29,040 
Other segment items (a)1,079 1,076 409 2,564 
Segment Operating Income
$91,612 $86,623 $34,073 $212,308 
Segment Operating Income Margin
24.7%20.0%13.7% 
Corporate Expenses (b)
(41,056)
Interest Expense, Net (c)
(18,113)
Other Expense, Net (c)
(69)
Income Before Provision for Income Taxes
$153,070 
December 28, 2024 (continued)
(In thousands)
 
Flow ControlIndustrial ProcessingMaterial HandlingCorporateTotal
Other Segment Disclosures
Depreciation expense (d)
$6,675 $9,513 $4,310 $49 $20,547 
Segment assets (e)
431,536 569,817 411,178 17,814 1,430,345 
Capital expenditures
7,225 8,121 5,638 21 21,005 

December 30, 2023
(In thousands) Flow ControlIndustrial ProcessingMaterial HandlingTotal
Revenue$363,451 $354,703 $239,518 $957,672 
Cost of revenue
175,144 212,247 153,975 541,366 
Gross Profit188,307 142,456 85,543 416,306 
Gross Profit Margin51.8%40.2%35.7%43.5%
Operating Expenses:
Selling expenses
 
51,315 31,660 19,978 102,953 
General and administrative expenses
 
33,625 27,747 13,836 75,208 
Research and development expenses
4,865 6,834 1,843 13,542 
Intangible asset amortization expense2,953 6,355 9,140 18,448 
Other segment items (a)300 579 54 933 
Segment Operating Income
$95,249 $69,281 $40,692 $205,222 
Segment Operating Income Margin
26.2%19.5%17.0% 
Corporate Expenses (b)
(39,465)
Interest Expense, Net (c)
(6,640)
Other Expense, Net (c)
(101)
Income Before Provision for Income Taxes
$159,016 
(In thousands)
 
Flow ControlIndustrial ProcessingMaterial HandlingCorporateTotal
Other Segment Disclosures
Depreciation expense (d)
$6,094 $5,443 $3,239 $73 $14,849 
Segment assets (e)
391,719 443,189 326,226 14,531 1,175,665 
Capital expenditures (f)
5,920 22,068 3,834 28 31,850 
(a)Includes acquisition costs, net indemnification asset reversals associated with uncertain tax positions, restructuring and impairment costs, and certain other income or expense.
(b)Primarily consists of general and administrative expenses.
(c)The Company does not allocate interest expense, net and other expense, net to its segments.
(d)Depreciation expense by reportable segment is included within cost of revenue and selling, general and administrative, and research and development expenses.
(e)Excludes intercompany receivables or payables and investment in subsidiary balances as the CODM uses total assets excluding these amounts as the measurement for the Company's segment assets. Corporate assets primarily consist of cash and cash equivalents, tax assets, ROU assets, and property, plant, and equipment, net.
(f)Included within the Industrial Processing segment are capital expenditures of $7,424,000 in 2023 related to the construction of a new manufacturing facility in China.
The following tables present the Company’s revenue and long-lived assets by geographical area:

(In thousands)January 3, 2026December 28, 2024December 30, 2023
Geographical Information
Revenue (a):
United States$534,041 $521,528 $448,600 
Canada104,169 114,257 73,183 
China62,604 75,896 81,458 
Germany44,246 43,858 43,036 
Other307,188 297,845 311,395 
$1,052,248 $1,053,384 $957,672 
Long-lived Assets (b):
United States$91,655 $82,048 $48,394 
China23,438 23,346 24,380 
Germany21,022 19,310 20,953 
Finland19,667 18,114 19,958 
Canada9,622 10,301 9,136 
Other31,252 17,212 17,683 
$196,656 $170,331 $140,504 
(a)Revenue is attributed to countries based on customer location.
(b)Represents property, plant, and equipment, net.