v3.26.3
Acquisitions
 9 Months Ended
Sep. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
There were no material acquisitions during the nine months ended September 30, 2026.

On August 1, 2025, the Company acquired certain assets net of liabilities of Metropolitan Laundry Machinery Sales Inc. ("Metropolitan Laundry"), a leading distributor of laundry equipment headquartered in South Richmond Hill, New York servicing the metro New York area. Prior to the acquisition, the Company had a preexisting relationship with Metropolitan Laundry in the normal course of business. At the acquisition date, the Company had a receivable of $1.1 million that was settled in connection with the acquisition.
The following table summarizes the aggregate purchase price allocation of the estimated fair value of assets acquired and liabilities assumed as of the acquisition date.
Nine Months Ended September 30,
(in thousands)2025
Total purchase price$11,447 
Allocation of purchase price:
Assets acquired:
Accounts receivables$28 
Inventories, net503 
Property, plant, and equipment, net140 
Intangible assets - customer relationships3,000 
Total assets acquired
$3,671 
Total liabilities assumed
$404 
Total net assets acquired
$3,267 
Goodwill
$8,180 
Total purchase price allocation
$11,447 
Goodwill and intangible assets related to acquisitions are included in the North America reportable segment and are deductible for tax purposes over a 15 year period. The customer relationship intangible assets acquired in 2025 were assigned a useful life of six years. Goodwill recognized in connection with this acquisition reflects the strategic and synergistic benefits expected to be realized.