Segments (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Company's Operations by Segment, Including Revenue by Major Market

	For the Year Ended December 31, 2024
	Material Handling		Distribution			Corporate			Inter-company			Consolidated
Consumer	$	96,174	$	—		$	—		$	—		$	96,174
Vehicle		107,178		—			—			—			107,178
Food and beverage		74,701		—			—			—			74,701
Industrial		240,910		—			—			(142	)		240,768
Infrastructure		102,692		—			—			—			102,692
Auto aftermarket		—		214,768			—			—			214,768
Net sales		621,655		214,768			—			(142	)		836,281
Cost of sales (2)		415,544		150,074			—			(142	)		565,476
Selling, general and administrative expenses (1) (3) (5)		106,121		61,338			36,649			—			204,108
(Gain) loss on disposal of fixed assets		207		(7	)		1			—			201
Impairment charges (6)		22,016		—			—			—			22,016
Operating income (loss) (4)		77,767		3,363			(36,650	)		—			44,480
Interest expense, net													30,937
Income before income taxes												$	13,543
Total assets		712,046		99,193			49,576			—			860,815
Capital additions, net		22,276		1,272			887			—			24,435
Depreciation and Amortization (9)		34,499		3,248			2,763			—			40,510

	For the Year Ended December 31, 2023
	Material Handling			Distribution			Corporate			Inter-company			Consolidated
Consumer	$	92,380		$	—		$	—		$	—		$	92,380
Vehicle		123,155			—			—			—			123,155
Food and beverage		118,063			—			—			—			118,063
Industrial		221,661			—			—			(67	)		221,594
Infrastructure		—			—			—			—			—
Auto aftermarket		—			257,875			—			—			257,875
Net sales		555,259			257,875			—			(67	)		813,067
Cost of sales		376,002			178,046			—			(67	)		553,981
Selling, general and administrative expenses (1) (3) (5) (8)		79,352			68,874			38,650			—			186,876
(Gain) loss on disposal of fixed assets		(183	)		(12	)		—			—			(195	)
Operating income (loss) (4)		100,088			10,967			(38,650	)		—			72,405
Interest expense, net														6,349
Income before income taxes													$	66,056
Total assets		383,734			112,323			45,574			—			541,631
Capital additions, net		20,452			1,666			737			—			22,855
Depreciation and Amortization (9)		18,917			3,197			985			—			23,099

	For the Year Ended December 31, 2022
	Material Handling			Distribution		Corporate			Inter-company			Consolidated
Consumer	$	113,339		$	—	$	—		$	—		$	113,339
Vehicle		165,139			—		—			—			165,139
Food and beverage		125,111			—		—			—			125,111
Industrial		244,030			—		—			(38	)		243,992
Infrastructure		—			—		—			—			—
Auto aftermarket		—			251,966		—			—			251,966
Net sales		647,619			251,966		—			(38	)		899,547
Cost of sales		443,380			172,839		—			(38	)		616,181
Selling, general and administrative expenses (1) (3)		100,827			62,662		36,000			—			199,489
(Gain) loss on disposal of fixed assets		(667	)		—		—			—			(667	)
Other (income) expenses (7)		—			603		—			—			603
Operating income (loss) (4)		104,079			15,862		(36,000	)		—			83,941
Interest expense, net													5,731
Income before income taxes												$	78,210
Total assets		385,722			119,652		37,260			—			542,634
Capital additions, net		22,528			705		1,059			—			24,292
Depreciation and Amortization (9)		17,814			2,889		954			—			21,657

(1) The Company recognized $(0.2) million, $3.2 million and $1.4 million of expense (income) related to the estimated environmental reserve, net of expected insurance recoveries in the years ended December 31, 2024, 2023 and 2022, respectively, as described in Note 9. Environmental charges are not included in segment results and are shown with Corporate.

(2) The Company recognized $4.5 million of non-cash inventory step-up that was amortized to Cost of sales for the year ended December 31, 2024, related to the reporting of inventory at fair value in conjunction with the acquisition of Signature, as described in Note 3.

(3) The Company incurred $4.6 million, $3.1 million and $1.0 million of acquisition related costs associated with the acquisitions of Signature and Mohawk, as described in Note 3, for the years ended December 31, 2024, 2023, and 2022, respectively, of which $4.3 million, $2.7 million and $0.6 million are included in Corporate, for the years ended December 31, 2024, 2023, and 2022, respectively, $0.3 million is included in Material Handling's results, for the year ended December 31, 2024 and $0.4 million is included in Distribution's results, for the years ended December 31, 2023 and 2022. Corporate costs also include $1.3 million of consulting costs to improve the Company's capabilities to screen and execute large acquisitions for the year ended December 31, 2023.

(4) The Company incurred $7.5 million, $2.5 million and $0.7 million of restructuring costs, included within both Cost of Sales and Selling, general and administrative, associated with the restructuring initiatives described in Note 6, for the years ended December 31, 2024, 2023, and 2022, respectively, of which $3.9 million, $1.5 million and $0.7 million are included in Material Handling, $1.4 million, $0.9 million and $0.0 million are included in Distribution's results and $2.3 million, $0.2 million and $0.0 million are included in Corporate's results, for the years ended December 31, 2024, 2023, and 2022, respectively.

(5) The Company recognized $1.4 million of executive severance which is included in Corporate's results for the year ended December 31, 2024. In the year ended December 31, 2023 the Company recognized $0.7 million of executive severance, of which $0.4 million was recognized in the Distribution Segment related to severance and benefits and $0.3 million was recognized in Corporate related to charges for the acceleration of stock compensation.

(6) The Company recognized $22.0 million of non-cash impairment charges, as described in Note 4, for the year ended December 31, 2024, which are included in Material Handling's results.

(7) In the year ended December 31, 2022, the Company recognized a $0.6 million impairment loss on an investment in a legacy joint venture within the Distribution Segment as described in Note 1.

(8) In the year ended December 31, 2023, the Company recognized a $10 million recovery of legal costs within the Material Handling Segment related to a settlement agreement with one of its insurers. $6.7 million of these recovered costs were originally incurred prior to 2023.

(9) Corporate depreciation and amortization includes amortization of deferred financing costs of $1.9 million, $0.3 million and $0.4 million in the years ended December 31, 2024, 2023 and 2022, respectively.