
	Gross		Accumulated Amortization		Net Book Value
As of September 30, 2026:
Customer relationships	$	265.4	$	(33.7)	$	231.7
Trademarks	36.1		(4.5)		31.6
Covenant not to compete	0.5		(0.2)		0.3
Software & patents	0.1		(0.1)		—
Total identifiable intangibles	$	302.1	$	(38.5)	$	263.6

As of December 31, 2025:
Customer relationships	$	66.0	$	(12.5)	$	53.5
Trademarks	8.0		(2.1)		5.9
Covenant not to compete	0.5		(0.1)		0.4
Software & patents	0.1		(0.1)		—
Total identifiable intangibles	$	74.6	$	(14.8)	$	59.8

In connection with the Omega Acquisition, the Company recognized a customer relationship intangible asset of $90.6 million at fair value and a trademark intangible asset of $13.2 million at fair value, for total acquired intangible assets of $103.8 million. The customer relationships and trademarks are amortized over estimated useful lives of 20.3 years and 4.3 years, respectively, based on the expected pattern of future cash flows associated with the intangible assets. The weighted-average amortization period for the acquired intangible assets in total is 18.3 years. See Note 4. “Acquisitions” for additional information.

In connection with the GESA Acquisition, the Company recognized a customer relationship intangible asset of $93.1 million at fair value and a trademark intangible asset of $14.9 million at fair value, for total acquired intangible assets of $108.0 million. The customer relationship and trademark are amortized over estimated useful lives of 20.5 years and 4.5 years, respectively, based on the expected pattern of future cash flows associated with the intangible assets. The weighted-average amortization period for the acquired intangible assets in total is 18.3 years. See Note 4. “Acquisitions” for additional information.

In connection with the Genco Acquisition, the Company recognized a customer relationship intangible asset of $15.7 million at fair value. This intangible is amortized over an estimated useful life of five years based on the expected pattern of future cash flows associated with the asset. See Note 4. “Acquisitions” for additional information.

Amortization expense on intangible assets was $17.4 million and $2.9 million for the three months ended September 30, 2026 and 2025, respectively, and $23.7 million and $9.3 million, respectively, for the nine months ended September 30, 2026 and 2025.


Year Ending December 31,	Estimated Amortization Expense
2026 (remainder of)	$	30.6
2027	62.4
2028	46.6
2029	35.1
2030	27.2
Thereafter	61.7
Total estimated amortization expense	$	263.6