v3.26.1
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination
The following amounts represent the preliminary determination of the fair value of identifiable assets acquired and liabilities assumed. The final determination of the fair value of certain assets and liabilities will be completed within the one-year measurement period as required by ASC 805. We have not yet completed our evaluation and determination of certain assets acquired and liabilities assumed. Any potential adjustments made could be material in relation to the preliminary values presented below:

Net assets acquired (in millions)
Total current assets$243.7 
Property, plant and equipment71.9 
Other assets16.2 
Intangible assets466.0 
Goodwill586.7 
Total assets acquired$1,384.5 
Total current liabilities$119.3 
Other liabilities45.4 
Total assumed liabilities$164.7 
Net assets acquired$1,219.8 
On January 1, 2026, the Company completed the acquisition of a leading provider of inline process control optical measurement solutions for biopharma, pharmaceutical and other demanding markets for $176.2 million, net of cash acquired of $8.2 million, subject to post-closing adjustments. The acquired company has been integrated into our Process Flow Technologies segment. The amount allocated to goodwill reflects the expected synergies related to product line simplification and supply chain manufacturing productivity.
Net assets acquired (in millions)
Total current assets$31.5 
Property, plant and equipment20.0 
Other assets0.2 
Intangible assets76.2 
Goodwill81.0 
Total assets acquired$208.9 
Total current liabilities$3.2 
Other liabilities21.3 
Total assumed liabilities$24.5 
Net assets acquired$184.4 
Business Combination, Intangible Asset, Acquired, Finite-Lived and Indefinite-Lived
The amounts allocated to acquired intangible assets, and their associated weighted-average useful lives which were determined based on the period in which the assets are expected to contribute directly or indirectly to our future cash flows, consist of the following:
Intangible Assets (dollars in millions)
Intangible Fair ValueWeighted Average Life (in years)
Trademarks/Trade names$70.0 14.0
Customer relationships259.0 14.0
Developed Technology82.0 9.0
Backlog55.0 4.0
Total acquired intangible assets$466.0 
The amounts allocated to acquired intangible assets, and their associated weighted-average useful lives which were determined based on the period in which the assets are expected to contribute directly or indirectly to our future cash flows, consist of the following:

Intangible Assets (dollars in millions)
Intangible Fair ValueWeighted Average Life (in years)
Trademarks/Trade names$5.4 17.0
Customer relationships58.6 18.0
Developed technology10.6 8.0
Backlog1.6 1.0
Total acquired intangible assets$76.2 
Business Combination, Pro Forma Information
The following table contains unaudited pro forma condensed consolidated income statement information of the Company for the three and six month periods ending June 30, 2025, as if the Druck, Panametrics and Reuter-Stokes closed on January 1, 2025, as such Net income includes transaction and financing adjustments of $20.7 million and $66.5 million, respectively.

Three Months EndedSix Months Ended
June 30,June 30,
(in millions, except per share data)20252025
Net sales (a)
$666.5 $1,312.0 
Net income (a)
$67.4 $135.6 
Net income per common share – assuming dilution$1.15 $2.32 
(a) Consolidated pro forma revenue and net income related to the optek-Danulat (‘Optek”) acquisition have not been presented since the pro forma impact is not material.