Note 2 - Acquisition |
9 Months Ended | ||
|---|---|---|---|
Sep. 30, 2026 | |||
| Notes to Financial Statements | |||
| Business Combination [Text Block] |
In April 2025, the Company completed the acquisition of an equipment service provider for approximately $4.3 million in cash. At closing, $0.3 million was held in escrow for the settlement of potential obligations. This acquisition broadened the Company's value-added offerings in certain key equipment categories.
The Company prepared a purchase price fair value allocation of the assets acquired and the liabilities assumed in the acquisition. The fair value allocation has been finalized. Total net identifiable assets acquired totaled $3.3 million, including $0.7 million in customer lists, and total goodwill acquired was $1.0 million. As of September 30, 2026, $0.1 million remains held in escrow for the settlement of potential obligations. The accounts acquired are included in the condensed consolidated financial statements from the date of acquisition. For the three and nine months ended September 30, 2026 and 2025, revenues and net income generated from the acquisition were immaterial.
The amounts allocated to goodwill reflects the benefits the Company expects to realize from the growth of the acquisition's operations.
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