v3.26.1
Acquisitions (Tables)
 3 Months Ended
Mar. 31, 2026
Hog  
Business Combination [Line Items]  
Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the fair value of assets acquired and liabilities assumed as of the acquisition date:
(in millions)
Purchase price, inclusive of closing adjustments (a)
$82.5 
Estimated fair value of additional consideration (b)
11.5 
Settlement of pre-existing contractual relationship (c)
0.9 
Total consideration94.9 
Accounts receivable6.7 
Inventories9.7 
Prepaid expenses and other current assets1.0 
Properties and equipment18.1 
Customer relationships (d)
23.7 
Trade names (e)
12.4 
Other intangible assets3.0 
Accounts payable(3.8)
Accrued liabilities(1.3)
Customer deposits(5.4)
Net assets acquired64.1
Goodwill (f)
$30.8 
(a)     The purchase price was funded through existing cash on hand and borrowings under the Company’s credit agreement. The purchase price included an amount of $10.0 million, which was paid by the Company at closing and placed into an escrow account. Based on Hog’s financial results for the year ended December 31, 2025, the amount placed in escrow was released to the former owner of Hog during the three months ended March 31, 2026. The Company assigned a fair value to this contingent consideration of $10.0 million as of the acquisition date.
(b)    Represents the fair value assigned to the contingent earn-out payment as of the acquisition date. See Note 13 – Fair Value Measurements for discussion of the methodology used to determine the fair value of the contingent earn-out payment.
(c)    Represents the non-cash settlement of accounts receivable due from Hog to the Company as of the acquisition date. Corresponding amount payable by Hog to the Company is not included in accounts payable assumed in the table above, and the amount was settled at fair value with no impact on the Condensed Consolidated Statement of Operations in 2025.
(d)    Represents the fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with an estimated useful life of approximately 12 years.
(e)    Represents the fair value assigned to trade names, which are considered to be indefinite-lived intangible assets.
(f)    Goodwill, which is tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.
New Way Trucks  
Business Combination [Line Items]  
Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the acquisition date:

(in millions)
Purchase price, inclusive of preliminary closing adjustments (a)
$413.5 
Estimated fair value of additional consideration (b)
10.7 
Total consideration424.2 
Cash9.4 
Accounts receivable60.0 
Inventories85.5 
Prepaid expenses and other current assets0.7 
Properties and equipment31.1 
Finance lease right-of-use assets (c)
7.4 
Operating lease right-of-use assets0.1 
Customer relationships (d)
113.0 
Trade names (e)
50.5 
Accounts payable(10.6)
Accrued liabilities(9.8)
Customer deposits(15.7)
Operating lease liabilities(0.1)
Finance lease liabilities (c)
(1.8)
Net assets acquired319.7
Goodwill (f)
$104.5 
(a)     The initial purchase price, which is subject to certain post-closing adjustments, including working capital, was funded through existing cash on hand and borrowings under the Company’s credit agreement.
(b)    Represents the preliminary estimate of fair value assigned to the contingent earn-out payment as of the acquisition date, which is included in Other long-term liabilities on the Condensed Consolidated Balance Sheet as of March 31, 2026. See Note 13 – Fair Value Measurements for discussion of the methodology used to determine the fair value of the contingent earn-out payment.
(c)    Represents the preliminary fair value assigned to acquired finance lease right-of-use assets and finance lease liabilities.
(d)    Represents the preliminary fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with a preliminary estimated useful life of approximately 15 years.
(e)    Represents the preliminary fair value assigned to trade names, which are considered to be indefinite-lived intangible assets.
(f)    Goodwill, which is tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.
Mega Corp  
Business Combination [Line Items]  
Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the acquisition date:
(in millions)
Purchase price, inclusive of preliminary closing adjustments (a)
$45.0 
Total consideration45.0 
Cash0.1 
Accounts receivable2.7 
Inventories11.8 
Prepaid expenses and other current assets0.3 
Properties and equipment11.8 
Customer relationships (b)
9.0 
Trade names (c)
6.8 
Accounts payable(1.0)
Accrued liabilities(0.7)
Customer deposits(3.0)
Net assets acquired37.8
Goodwill (d)
$7.2 
(a)     The initial purchase price, which is subject to certain post-closing adjustments, including working capital, was funded through existing cash on hand and borrowings under the Company’s credit agreement.
(b)    Represents the preliminary fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with a preliminary estimated useful life of approximately 10 years.
(c)    Represents the preliminary fair value assigned to trade names, which are considered to be indefinite-lived intangible assets.
(d)    Goodwill, which is tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.