v3.26.1
Business Combinations
 6 Months Ended
Jun. 30, 2026
Business Combination [Line Items]  
Business Combinations
(14)
Business Combinations
SDI Acquisition
On January 8, 2025, we acquired 100% of the ownership interests in SDI, a solar predrill and pile foundation installation contractor based in Sacramento, California. The aggregate consideration for the acquisition was approximately $16,941, of which approximately $11,154 was paid in cash at closing and $5,500 is deferred and payable on the
one-year
anniversary of the acquisition. On January 8, 2026, we settled the remaining $5,500 deferred acquisition payment obligation.
Our condensed consolidated financial statements include SDI’s revenue and net income which were immaterial for the three and six months ended June 30, 2026 and 2025. Pro forma financial information has not been presented for the SDI acquisition as the impact to our condensed consolidated financial statements was not material.
Spartan Acquisition
On June 13, 2025, we acquired 100% of the equity interests of Spartan for an approximate acquisition purchase price of $67,006, which was paid in cash at closing. Spartan specializes in providing services related to infrastructure development and investment, specifically Spartan self-performs electrical transmission construction services and provides procurement and subcontracting engineering services.
We recorded provisional amounts for certain acquired assets and liabilities as the valuations were not complete as of the acquisition date. During the three months ended June 30, 2026, we finalized the allocation of the purchase consideration to the acquired assets and liabilities and recorded adjustments of $3,600 to intangible assets and $1,142 to deferred taxes, with the corresponding $2,458 adjustment recorded to goodwill.
Our condensed consolidated financial statements include Spartan’s revenue and net income which were immaterial for the three and six months ended June 30, 2026 and 2025. Pro forma financial information has not been presented for the Spartan acquisition as the impact to our condensed consolidated financial statements was not material.