v3.25.4
Nature of Operations and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jan. 03, 2026
Accounting Policies [Abstract]  
Revenue recognition method and disaggregation of revenue by product type and geography
The following table presents revenue by revenue recognition method:
(In thousands)January 3, 2026December 28, 2024December 30, 2023
Point in Time$973,699 $935,520 $849,507 
Over Time78,549 117,864 108,165 
$1,052,248 $1,053,384 $957,672 
The following table presents the disaggregation of revenue by product type and geography:
(In thousands)January 3, 2026December 28, 2024December 30, 2023
Revenue by Product Type:   
Parts and Consumables$748,407 $693,612 $598,343 
Capital303,841 359,772 359,329 
$1,052,248 $1,053,384 $957,672 
Revenue by Geography (based on customer location):   
North America$655,934 $661,016 $538,658 
Europe241,696 230,141 245,154 
Asia88,475 101,714 113,511 
Rest of World66,143 60,513 60,349 
$1,052,248 $1,053,384 $957,672 
Contract balances from contracts with customers
The following table presents contract balances from contracts with customers:
(In thousands)January 3, 2026December 28, 2024
Contract Assets$6,599 $18,408 
Contract Liabilities$69,093 $46,062 
Changes in allowance for credit losses
The changes in the allowance for credit losses are as follows:
(In thousands)January 3, 2026December 28, 2024December 30, 2023
Balance at Beginning of Year$4,403 $4,090 $3,595 
Provision charged to expense737 721 531 
Accounts written off(265)(215)(89)
Currency translation274 (193)53 
Balance at End of Year$5,149 $4,403 $4,090 
Changes in carrying amount of product warranty obligations
The changes in the carrying amount of product warranty obligations are as follows:
(In thousands)January 3, 2026December 28, 2024
Balance at Beginning of Year$10,664 $8,154 
Provision charged to expense3,224 7,575 
Usage(4,615)(4,957)
Acquisitions1,918 473 
Currency translation657 (581)
Balance at End of Year$11,848 $10,664 
Reconciliation of cash and cash equivalents
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the accompanying consolidated balance sheet that are shown in aggregate in the consolidated statement of cash flows:
(In thousands)January 3, 2026December 28, 2024December 30, 2023
Cash and cash equivalents$119,551 $94,660 $103,832 
Restricted cash3,130 1,286 2,621 
Total Cash, Cash Equivalents, and Restricted Cash$122,681 $95,946 $106,453 
Reconciliation of restricted cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the accompanying consolidated balance sheet that are shown in aggregate in the consolidated statement of cash flows:
(In thousands)January 3, 2026December 28, 2024December 30, 2023
Cash and cash equivalents$119,551 $94,660 $103,832 
Restricted cash3,130 1,286 2,621 
Total Cash, Cash Equivalents, and Restricted Cash$122,681 $95,946 $106,453 
Supplemental cash flow information
Supplemental Cash Flow Information
(In thousands)January 3, 2026December 28, 2024December 30, 2023
Cash Paid for Interest$14,925 $19,699 $8,071 
Non-Cash Investing Activities:
Fair value of assets acquired $255,375 $360,694 $1,338 
Fair value of liabilities assumed
$54,858 $36,340 $264 
Fair value of noncontrolling interests acquired$— $9,319 $— 
Fair value of contingent consideration acquired$— $1,785 $— 
Purchases of property, plant and equipment in accounts payable$1,541 $1,181 $4,453 
Non-Cash Financing Activities:   
Issuance of Company common stock upon vesting of RSUs$5,972 $5,576 $5,163 
Dividends declared but unpaid$4,008 $3,762 $3,395 
Cash paid for income taxes, net of refunds, by jurisdiction in 2025 is as follows:
(In thousands)
January 3, 2026
U.S. Federal
$8,805 
State
Other
3,337 
Foreign
Canada
16,148 
China
4,473 
Finland
3,201 
Brazil
2,225 
Other
5,952 
$44,141 
Supplemental cash flow information related to leases is as follows:
(In thousands)January 3, 2026December 28, 2024December 30, 2023
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
Operating cash flows from operating leases$9,096 $8,282 $6,475 
Operating cash flows from finance leases$96 $100 $74 
Financing cash flows from finance leases$1,216 $1,169 $1,100 
ROU Assets Obtained in Exchange for Lease Obligations:
Operating leases (a)
$13,171 $17,496 $8,120 
Finance leases$1,156 $1,598 $989 
(a) Includes ROU assets of $4,425,000 in 2025 and $10,847,000 in 2024 obtained in connection with the Company's acquisitions.
Components of inventory
The components of inventories are as follows:
(In thousands)January 3, 2026December 28, 2024
Raw Materials $92,674 $60,750 
Work in Process44,455 27,692 
Finished Goods (includes $3,556 and $554 at customer locations)
69,725 57,650 
 $206,854 $146,092 
Property, plant and equipment
Property, plant, and equipment consist of the following:
(In thousands)January 3, 2026December 28, 2024
Land$19,395 $15,884 
Buildings126,603 105,064 
Machinery, Equipment, and Leasehold Improvements217,978 190,615 
Construction in Progress6,266 4,127 
 370,242 315,690 
Less: Accumulated Depreciation and Amortization173,586 145,359 
 $196,656 $170,331 
Acquired intangible assets by major asset class
Acquired intangible assets by major asset class are as follows:
(In thousands)GrossAccumulated
Amortization		Currency
Translation		Net
January 3, 2026
Definite-Lived
Customer relationships$414,629 $(148,139)$(4,483)$262,007 
Product technology96,744 (54,929)(2,076)39,739 
Tradenames23,926 (6,106)(366)17,454 
Other25,221 (22,443)(574)2,204 
 560,520 (231,617)(7,499)321,404 
Indefinite-Lived
Tradenames29,059 — (87)28,972 
Acquired Intangible Assets$589,579 $(231,617)$(7,586)$350,376 
December 28, 2024    
Definite-Lived
Customer relationships$334,066 $(127,664)$(8,607)$197,795 
Product technology92,106 (49,294)(3,245)39,567 
Tradenames16,536 (5,084)(481)10,971 
Other25,221 (21,280)(668)3,273 
 467,929 (203,322)(13,001)251,606 
Indefinite-Lived
Tradenames29,059 — (1,171)27,888 
Acquired Intangible Assets$496,988 $(203,322)$(14,172)$279,494 
Changes in the carrying amount of goodwill by segment
The changes in the carrying amount of goodwill by reportable segment are as follows:
(In thousands)Flow ControlIndustrial ProcessingMaterial HandlingTotal
Balance as of December 30, 2023
        Gross balance$120,782 $212,732 $144,108 $477,622 
        Accumulated impairment losses— (85,538)— (85,538)
        Net balance120,782 127,194 144,108 392,084 
2024 Activity
Acquisitions (Note 2)
15,384 36,096 48,160 99,640 
Measurement period adjustment for 2023 acquisition— (22)— (22)
Currency translation(3,961)(5,740)(2,832)(12,533)
Total 2024 activity
11,423 30,334 45,328 87,085 
Balance at December 28, 2024
    
        Gross balance132,205 243,066 189,436 564,707 
        Accumulated impairment losses— (85,538)— (85,538)
        Net balance132,205 157,528 189,436 479,169 
2025 Activity
Acquisitions (Note 2)
— 57,297 — 57,297 
Measurement period adjustment for 2024 acquisitions
(173)— 321 148 
Currency translation7,727 5,956 5,324 19,007 
Total 2025 activity
$7,554 $63,253 $5,645 $76,452 
Balance at January 3, 2026    
        Gross balance$139,759 $306,319 $195,081 $641,159 
        Accumulated impairment losses— (85,538)— (85,538)
        Net balance$139,759 $220,781 $195,081 $555,621 
Goodwill by reporting unit
Goodwill by reporting unit is as follows:
(In thousands)January 3, 2026December 28, 2024
Fluid-Handling$79,379 $76,733 
Doctoring, Cleaning, & Filtration60,380 55,472 
Fiber Processing78,618 20,956 
Wood Processing142,163 136,572 
Material Handling195,081 189,436 
 $555,621 $479,169