Business Combinations (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
|---|
| 2024 Acquisitions |
|
| Business Combinations |
|
| Summary of businesses acquired |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 Acquisitions |
|
Date |
|
Cash Paid |
|
Goodwill Acquired |
|
Net Sales |
|
Net Income |
Insulation Works |
|
|
5/16/2024 |
|
$ |
25,533 |
|
$ |
14,911 |
|
$ |
18,433 |
|
$ |
2,092 |
Texas Insulation |
|
|
5/31/2024 |
|
|
35,901 |
|
|
22,837 |
|
|
20,500 |
|
|
2,359 |
Metro |
|
|
12/2/2024 |
|
|
35,400 |
|
|
17,956 |
|
|
2,833 |
|
|
64 |
All others |
|
|
Various |
|
|
39,970 |
|
|
19,318 |
|
|
36,256 |
|
|
4,564 |
Total |
|
|
|
|
$ |
136,804 |
|
$ |
75,022 |
|
$ |
78,022 |
|
$ |
9,079 |
|
| Schedule of fair value of assets and liabilities assumed |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 Acquisitions |
Purchase price fair values: |
|
Insulation Works |
|
Texas Insulation |
|
Metro |
|
All Others |
|
Totals |
Accounts receivable |
|
$ |
2,242 |
|
$ |
2,755 |
|
$ |
9,362 |
|
$ |
8,780 |
|
$ |
23,139 |
Inventories |
|
|
1,217 |
|
|
754 |
|
|
3,218 |
|
|
2,711 |
|
|
7,900 |
Prepaid and other assets |
|
|
— |
|
|
40 |
|
|
99 |
|
|
107 |
|
|
246 |
Property and equipment |
|
|
1,267 |
|
|
1,798 |
|
|
701 |
|
|
1,496 |
|
|
5,262 |
ROU asset (operating) |
|
|
359 |
|
|
1,142 |
|
|
2,596 |
|
|
1,361 |
|
|
5,458 |
Intangible assets |
|
|
7,988 |
|
|
12,831 |
|
|
9,669 |
|
|
11,706 |
|
|
42,194 |
Goodwill |
|
|
14,911 |
|
|
22,837 |
|
|
17,956 |
|
|
19,318 |
|
|
75,022 |
Accounts payable |
|
|
(2,243) |
|
|
(5,157) |
|
|
(5,515) |
|
|
(3,552) |
|
|
(16,467) |
Lease liabilities (operating) |
|
|
(359) |
|
|
(1,142) |
|
|
(2,596) |
|
|
(1,361) |
|
|
(5,458) |
All other |
|
|
151 |
|
|
43 |
|
|
(90) |
|
|
(596) |
|
|
(492) |
Net assets acquired |
|
$ |
25,533 |
|
$ |
35,901 |
|
$ |
35,400 |
|
$ |
39,970 |
|
$ |
136,804 |
|
| 2023 Acquisitions |
|
| Business Combinations |
|
| Summary of businesses acquired |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 Acquisitions |
|
Date |
|
Cash Paid |
|
Goodwill Acquired |
|
Net Sales |
|
Net Income |
SRI |
|
|
1/23/2023 |
|
$ |
45,314 |
|
$ |
23,065 |
|
$ |
54,898 |
|
$ |
3,282 |
Best |
|
|
7/17/2023 |
|
|
94,590 |
|
|
51,418 |
|
|
66,073 |
|
|
3,031 |
All others |
|
|
Various |
|
|
9,113 |
|
|
4,492 |
|
|
8,406 |
|
|
1,232 |
Total |
|
|
|
|
$ |
149,017 |
|
$ |
78,975 |
|
$ |
129,377 |
|
$ |
7,545 |
|
| Schedule of fair value of assets and liabilities assumed |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 Acquisitions |
|
|
SRI |
|
Best |
|
All Others |
|
Totals |
Purchase price fair values: |
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable |
|
$ |
5,531 |
|
$ |
7,537 |
|
$ |
968 |
|
$ |
14,036 |
Inventories |
|
|
4,383 |
|
|
2,132 |
|
|
602 |
|
|
7,117 |
Prepaid and other assets |
|
|
158 |
|
|
43 |
|
|
— |
|
|
201 |
Property and equipment |
|
|
4,623 |
|
|
5,518 |
|
|
419 |
|
|
10,560 |
ROU asset (operating) |
|
|
4,695 |
|
|
3,441 |
|
|
412 |
|
|
8,548 |
Intangible assets |
|
|
13,740 |
|
|
30,470 |
|
|
2,948 |
|
|
47,158 |
Goodwill |
|
|
23,065 |
|
|
51,418 |
|
|
4,492 |
|
|
78,975 |
Accounts payable |
|
|
(6,078) |
|
|
(2,623) |
|
|
(343) |
|
|
(9,044) |
Lease liabilities (operating) |
|
|
(4,775) |
|
|
(3,241) |
|
|
(412) |
|
|
(8,428) |
All other |
|
|
(28) |
|
|
(105) |
|
|
27 |
|
|
(106) |
Net assets acquired |
|
$ |
45,314 |
|
$ |
94,590 |
|
$ |
9,113 |
|
$ |
149,017 |
|