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Subsequent Event
3 Months Ended
Mar. 30, 2024
Subsequent Events [Abstract]  
Subsequent Events Subsequent Event
On April 19, 2024, the Company entered into a definitive agreement to acquire Nehring Electrical Works Company and certain of its affiliated companies (collectively, “Nehring”) for approximately $575.0 million, subject to customary purchase price adjustments, plus an additional $25.0 million earn out. Nehring produces high-quality wire and cable solutions for the utility,
telecommunication, electrical distribution, and OEM markets. The acquisition, which will be funded with cash on hand, is expected to close during the second quarter of 2024, subject to regulatory approval and customary closing conditions. For the twelve months ended December 31, 2023, Nehring’s annual net sales were approximately $400.0 million.