Prior Year Acquisition

6 Months Ended

Jun. 30, 2024

Business Combination and Asset Acquisition [Abstract]

Prior Year Acquisition

13. Prior Year Acquisition:

In October 2023, we completed the acquisition of AES, a company dedicated to service and sustainability in the light commercial market. Under the terms of the purchase agreement, a final working capital adjustment was completed in the first quarter of 2024. This working capital adjustment resulted in a $1.8 million reduction in the purchase price. Additionally, during the first quarter of 2024 we made certain purchase price adjustments. The following table details the purchase price adjustments that were made during the first quarter of 2024 (in millions):

	December 31, 2023		Adjustment		June 30, 2024
Net tangible assets acquired	$	17.6	$	(1.7)	$	15.9
Intangible assets acquired	36.9		2.1		39.0
Goodwill	40.4		(2.2)		38.2
Total investment	$	94.9	$	(1.8)	$	93.1