ACQUISITION (Tables)

3 Months Ended

Mar. 31, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The total purchase price of $21.9 million has been allocated as follows:

(in thousands)	March 12, 2024
Goodwill	$	9,883
Identifiable intangible assets	13,332
Tangible assets acquired and liabilities assumed:
Cash	1,088
Trade accounts receivable	6,061
Inventories	13,117
Other current assets	1,468
Property and equipment	1,739
Other assets	1,755
Accounts payable	(4,669)
Accrued expenses and other current liabilities	(5,221)
Deferred tax liability	(2,326)
Debt (current and long-term)	(11,274)
Other non-current liabilities	(3,052)
Total purchase price	$	21,901

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The following table summarizes the estimated fair value of Alfamation™’s identifiable intangible assets and their estimated useful lives as of the acquisition date:

	Fair Value		Weighted Average Estimated Useful Life
(in thousands except lives)			(in years)
Finite-lived intangible assets:
Customer relationships	$	8,196	20.0
Technology	3,169		10.0
Total finite-lived intangible assets	11,365
Indefinite-lived intangible assets:
Trade name	1,967
Total intangible assets	$	13,332

Business Acquisition, Pro Forma Information

These proforma summaries are presented for informational purposes only and are

not necessarily indicative of what the actual results of operations would have been had the acquisition taken place as of that date, nor are they indicative of future consolidated results of operations:

	Three Months Ended March 31,
(in thousands except per share data)	2025		2024
Revenue	$	26,637	$	34,752
Net (loss) earnings	(2,329)		480
Diluted (loss) earnings per share	$	(0.19)	$	0.04