v3.26.1
Mergers and Acquisitions (Tables)
 3 Months Ended
Mar. 31, 2026
SCF Machining Corporation  
Business Combination [Line Items]  
Schedule of Preliminary Allocation to Estimated Fair Value of Identifiable Assets Acquired and Liabilities Assumed The table below presents the final purchase price allocation to the estimated fair value of identifiable assets acquired and liabilities assumed and the resulting goodwill as of February 7, 2025. Goodwill is primarily attributable to the anticipated cost reductions and supply chain flexibility expected from the integration of SCF. Based on the current tax treatment, goodwill is not expected to be deductible for income tax purposes.

(in thousands)

 

 

Final Purchase Price Allocation

 

Cash and restricted cash

 

 

$

308

 

Inventories

 

 

 

758

 

Prepaid expenses and other current assets

 

 

 

722

 

Property and equipment

 

 

 

1,305

 

Right-of-use assets – operating

 

 

 

892

 

Other long-term assets

 

 

 

269

 

Total assets

 

 

 

4,254

 

Accounts payable

 

 

 

671

 

Accrued expenses

 

 

 

372

 

Operating lease liabilities - current

 

 

 

374

 

Operating lease liabilities - noncurrent

 

 

 

518

 

Total liabilities

 

 

 

1,935

 

Net assets acquired

 

 

 

2,319

 

Goodwill

 

 

 

15,402

 

Total purchase consideration

 

 

$

17,721

 
Citadel Casing Solutions, LLC  
Business Combination [Line Items]  
Schedule of Intangible Assets Acquired and Respective Amortization Periods

The table below represents the detail of the intangible assets acquired and the respective amortization periods (amounts in thousands):

Intangible Type

Weighted Average Amortization
Period

 

 

Value

 

Customer relationships

 

10.0 Years

 

 

$

14,100

 

Trade names

 

5.0 Years

 

 

 

2,100

 

Technology, patents, and other

 

10.0 Years

 

 

 

7,600

 

Total intangibles acquired

9.6 Years

 

 

$

23,800

 
Schedule of Preliminary Allocation to Estimated Fair Value of Identifiable Assets Acquired and Liabilities Assumed

The table below presents the preliminary allocation to the estimated fair value of identifiable assets acquired and liabilities assumed and the resulting goodwill as of May 30, 2025. Goodwill represents the future economic benefits arising from other assets acquired that cannot be individually identified and separately recognized. Based on the current tax treatment, goodwill is expected to be deductible for income tax purposes over a 15-year period.

(in thousands)

Preliminary Purchase Price Allocation

 

 

Measurement Period Adjustment

 

 

Preliminary Purchase Price Allocation
(as Adjusted)

 

Cash and restricted cash

$

3,408

 

 

$

—

 

 

$

3,408

 

Trade receivables

 

13,059

 

 

 

—

 

 

 

13,059

 

Inventories (1)

 

13,238

 

 

 

(1,273

)

 

 

11,965

 

Prepaid expenses and other current assets

 

483

 

 

 

—

 

 

 

483

 

Property and equipment

 

8,576

 

 

 

—

 

 

 

8,576

 

Right-of-use assets – operating

 

1,193

 

 

 

—

 

 

 

1,193

 

Other long-term assets

 

51

 

 

 

—

 

 

 

51

 

Intangibles

 

23,800

 

 

 

—

 

 

 

23,800

 

Total assets

 

63,808

 

 

 

(1,273

)

 

 

62,535

 

Accounts payable

 

6,111

 

 

 

—

 

 

 

6,111

 

Accrued expenses

 

1,539

 

 

 

—

 

 

 

1,539

 

Operating lease liabilities - current

 

552

 

 

 

—

 

 

 

552

 

Other current liabilities

 

143

 

 

 

—

 

 

 

143

 

Current portion of long-term debt and finance lease obligations

 

762

 

 

 

—

 

 

 

762

 

Operating lease liabilities - noncurrent

 

641

 

 

 

—

 

 

 

641

 

Long-term debt and finance lease obligations

 

2,623

 

 

 

—

 

 

 

2,623

 

Total liabilities

 

12,371

 

 

 

—

 

 

 

12,371

 

Net assets acquired

 

51,437

 

 

 

(1,273

)

 

 

50,164

 

Goodwill

 

18,226

 

 

 

1,273

 

 

 

19,499

 

Total purchase consideration

$

69,663

 

 

$

—

 

 

$

69,663

 

(1) Measurement period adjustment recognized related to updated estimated fair value for acquired inventories.