Subsequent Events

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

20. Subsequent Events

On July 18, 2024, the Company completed the acquisition of Demaco Holland B.V. ("Demaco"), a provider of critical flow control components for cryogenic applications used in a wide range of end markets, for approximately $41.0 million, subject to post-closing adjustments, plus potential contingent consideration of up to approximately $14.0 million. Demaco will be included in the Clean Energy & Fueling segment.

On July 19, 2024, the Company completed the acquisition of Marshall Excelsior Company ("MEC"), a supplier of highly-engineered flow control components for transportation, storage, and use of liquefied petroleum gas and other industrial gases, for approximately $395.0 million, subject to post-closing adjustments. MEC will be included in the Clean Energy & Fueling segment.

The initial accounting for the MEC and Demaco acquisitions is incomplete as a result of the timing of the acquisitions. Accordingly, it is impracticable for us to make certain business combination disclosures such as the estimated fair values of assets and liabilities acquired and the amount of goodwill.

On July 21, 2024, the Company entered into a definitive agreement to sell Environmental Solutions Group, an operating company within the Engineered Products segment, for approximately $2.0 billion on a cash-free and debt-free basis, subject to customary post-closing adjustments. The transaction is expected to close before year-end 2024, subject to customary closing conditions, including receipt of regulatory approvals.