v3.26.1
Subsequent Events
6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Acquisition of Intellihot
On July 21, 2026, the Company acquired 100% of the stock of Intellihot, Inc. ("Intellihot") for a total preliminary cash purchase price of approximately $108.5 million, excluding transaction costs and net of cash acquired. The preliminary purchase price is subject to customary post-closing adjustments. Intellihot, based in Vernon Hills, Illinois, is a leader in tankless water heater solutions serving the healthcare, education, hospitality and commercial end markets. The Company's financial position and results from operations will include Intellihot subsequent to July 20, 2026. As of the date of this filing, the Company has not completed the preliminary allocation of the purchase price to the assets acquired and liabilities assumed. This acquisition is not expected to have a material impact on the Company's consolidated financial statements.
Dividends
On July 23, 2026, the Company's Board of Directors declared a quarterly cash dividend on the Company's common stock of $0.11 per-share to be paid on September 4, 2026, to stockholders of record as of August 20, 2026.