Acquisitions |
9 Months Ended |
|---|---|
Sep. 28, 2026 | |
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
| Acquisitions | (13) Acquisitions Acquisition of STG On September 16, 2026, the Company consummated the purchase of all outstanding shares of STG for total cash consideration of $401,161. The acquisition is intended to diversify the Company's product offerings and geographic footprint and expand the Company's technological capabilities. The Company recorded preliminary amounts for all of the acquired assets and liabilities as of September 28, 2026 as the initial accounting for STG acquisition is incomplete due to the timing of available information and is subject to change during the measurement period as additional information becomes available. As of September 28, 2026, the Company has recorded provisional amounts for goodwill of $202,530, definite-lived intangible assets of $111,000, property, plant, and equipment of $44,444, and cash of $32,032, as well as other working capital and related tax items. Pro forma financial information is not presented because the acquisition is not material to the Company’s consolidated financial results. The transaction costs associated with the STG acquisition were immaterial. Acquisition of Epiq On September 30, 2026, subsequent to the end of the fiscal third quarter, the Company consummated the acquisition of all of the issued and outstanding membership interest of Epiq for total cash consideration of $1,100,000, subject to certain customary post‑closing adjustments. The acquisition is intended to provide critical technologies to expand the Company's technology portfolio and offer innovative capabilities for its aerospace and defense customers. The Company funded the purchase price, including all related fees and adjustments, from a portion of the proceeds of borrowings from the Senior Notes due 2034 and the proceeds of borrowings from the Incremental Facilities, see Note 7, Long-term Debt and Letters of Credit for further information. The closing of the Incremental Facilities occurred concurrently with the consummation of the Epiq acquisition. The initial accounting for the acquisition of Epiq is incomplete given the acquisition closed subsequent to the end of the period. The information necessary to prepare the initial accounting and preliminary purchase price allocation has not been received by the date of this filing and accordingly has not been disclosed herein. The Company is currently in the process of gathering and evaluating the necessary information to determine the fair value of the purchase consideration, assets acquired, and liabilities assumed. The preliminary accounting for the acquisition will be included in the Company's fourth quarter of 2026. Other Proposed Acquisitions On October 19, 2026, subsequent to the end of the fiscal third quarter, the Company announced that it had entered into a definitive agreement to acquire Ophir Optics for a purchase price of $650,000 in an all-cash transaction, subject to customary post‑closing adjustments. The Company expects to close this proposed acquisition in the second quarter of 2027. The Company previously announced that it had entered into two definitive agreements to acquire companies in Europe. These proposed acquisitions are immaterial and are expected to close in the fourth quarter of 2026, subject to the satisfaction of regulatory approvals and other customary closing conditions. |