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Acquisition of Assets
9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisition of Assets

3. Acquisition of Assets

 

Effective February 4, 2025, the Company acquired certain assets and distribution rights in Georgia, North Carolina, and South Carolina from Ring Power Corporation for total cash consideration of $12.9 million. The acquisition did not meet the definition of a business under Accounting Standards Codification ("ASC") 805, "Business Combinations," and has therefore been accounted for as an asset acquisition.

 

The purchase price was allocated to the underlying assets acquired based upon their estimated fair value at the date of the acquisition as follows:

 

Inventory

 

$

7.2

 

Intangible assets

 

 

2.0

 

Property, plant, and equipment

 

 

3.7

 

Total Consideration

 

$

12.9