v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net (loss) income $ (34,736) $ 46,549
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 18,120 10,157
Unrealized foreign currency loss (gain) 3,534 (3,024)
Intangible asset impairment 1,927 0
Inventory fair value adjustment 9,515 0
Gain on sale of Global Pump Solutions business 0 (64,502)
Fair value adjustment to earnout liabilities 0 (7,403)
(Gain) loss on sale of property and equipment 26 (34)
Debt discount amortization 476 412
Share-based compensation expense 12,848 6,234
(Recovery) allowance for credit loss (1,539) 1,297
Inventory reserve expense 1,496 192
Deferred income tax benefit 891 1,335
Changes in operating assets and liabilities, net of acquisitions and divestiture:    
Accounts receivable (180,211) 4,850
Costs and estimated earnings in excess of billings on uncompleted contracts 3,502 (19,635)
Inventories (9,835) (8,853)
Prepaid expense and other current assets (60,692) (13,865)
Deferred charges and other assets (3,155) (1,512)
Accounts payable 40,998 11,884
Accrued expenses (23,342) 9,973
Billings in excess of costs and estimated earnings on uncompleted contracts 192,366 7,524
Income taxes payable (5,363) 5,942
Other liabilities 748 (6,884)
Net cash used in operating activities (32,426) (19,363)
Cash flows from investing activities:    
Acquisitions of property and equipment (7,486) (4,432)
Net cash proceeds for sale of Global Pump Solutions business 0 105,860
Cash paid for acquisitions, net of cash acquired (436,871) (97,615)
Net cash (used in) provided by investing activities (444,357) 3,813
Cash flows from financing activities:    
Borrowings on revolving credit lines 384,700 162,000
Repayments on revolving credit lines (96,300) (142,300)
Borrowings on long-term debt 235,000 0
Repayments of long-term debt (917) (802)
Payments on finance leases and financing liability 0 (393)
Deferred financing fees paid (7,664) 0
Deferred consideration paid for acquisitions 0 (1,000)
Equity awards surrendered by employees for tax liability, net of proceeds from employee stock purchase plan and exercise of stock options (4,966) (2,906)
Noncontrolling interest distributions (803) (402)
Net cash provided by financing activities 509,050 14,197
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,645) 61
Net increase in cash, cash equivalents and restricted cash 30,622 (1,292)
Cash, cash equivalents and restricted cash at beginning of period 33,227 38,201
Cash, cash equivalents and restricted cash at end of period 63,849 36,909
Cash paid during the period for:    
Interest 14,131 10,940
Income taxes $ 14,509 $ 18,642