Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Event | Subsequent Event On July 1, 2026, the Company acquired all issued and outstanding shares of capital stock of Valley Holdings I, Inc. and its subsidiaries (collectively, “Valley”), for initial cash consideration of approximately $328.0 million, subject to working capital and net asset adjustments. Valley is a full-service electrical contractor based in Everett, Washington. The Company funded the approximately $328.0 million cash payment at closing through a combination of approximately $93.0 million of cash on hand and $235.0 million of borrowings under the Facility. The purchase agreement for the Valley acquisition also provides for additional contingent consideration and additional contingent compensation for key executives of Valley, which may become payable based on the achievement of certain performance targets and continued employment of such executives. The results of Valley will be included in the Company’s consolidated financial statements beginning as of July 1, 2026. Acquisition-related costs associated with the transaction incurred through June 30, 2026 were $1.3 million and were expensed by the Company during the six months ended June 30, 2026. Due to the timing of the acquisition, preliminary purchase price allocation has not yet been completed.
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