Subsequent Events

6 Months Ended

Jun. 30, 2026

Subsequent Events [Abstract]

Subsequent Events

Subsequent Event

On July 9, 2026, the Company completed its acquisition of 100% of the common stock of Autronica Fire and Security (“Autronica”) for approximately $555 million in cash, net of cash acquired and subject to customary purchase price adjustments. Headquartered in Norway and employing approximately 500 employees worldwide, Autronica is a designer, manufacturer and supplier of fire detection, gas detection and alarm systems. Autronica serves the critical infrastructure, energy and maritime sectors. The transaction was funded through a combination of cash on hand and borrowings under our existing credit facility.

The initial accounting for the acquisition, including the determination of the consideration transferred and the fair values of the assets acquired and liabilities assumed, is not yet complete. Disclosure related to the preliminary identification and measurement of identifiable assets acquired and liabilities assumed, including the allocation of the purchase price and determination of goodwill, will be provided in the third quarter Form 10-Q and will be further refined throughout the one year measurement period. Furthermore, higher corporate development expenses attributable to various transaction closing costs, as well as increased variable compensation costs associated with higher performance stock expense, are anticipated to be recognized in the third quarter.