BUSINESS COMBINATIONS (Tables)

6 Months Ended

Jun. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Summary of Purchase Price Paid for Acquisitions

A summary of the purchase price paid and the purchase price allocation for acquisitions follows:

	Six Months Ended June 30,
	2023		2022
Purchase Price:
Cash used in acquisitions, net of cash acquired	$	544,359	$	55,053
Holdbacks to sellers and contingent consideration	1,900		3,842
Total consideration	$	546,259	$	58,895
Allocated as follows:
Current assets	$	15,364	$	7,584
Property, plant and equipment:
Land	2,213		2,804
Buildings and improvements	8,666		5,308
Machinery and equipment	90,276		6,712
Operating lease right-of-use assets	11,260		405
Intangible assets:
Covenants not-to-compete	10,550		1,415
Customer relationships	93,000		9,725
Other non-current assets	—		40
Deferred tax liability	(5,160)		—
Current liabilities	(15,195)		(3,577)
Operating lease liabilities, less current portion	(9,887)		(282)
Fair value of assets acquired and liabilities assumed	201,087		30,134
Excess purchase price allocated to goodwill	$	345,172	$	28,761

Schedule of Unaudited Pro forma Combined Information

Unaudited pro forma combined information that shows our operational results as though each acquisition completed since the beginning of the prior fiscal year had occurred as of January 1, 2022 is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Revenues	$	335,363	$	335,299	$	645,821	$	626,980
Operating income	$	25,982	$	35,543	$	39,734	$	50,250
Net income	$	7,494	$	19,985	$	13,113	$	26,421
Basic earnings per share attributable to common stockholders:
Weighted average common shares outstanding	52,885		51,642		52,331		51,567
Basic earnings per common share	$	0.14	$	0.39	$	0.25	$	0.51
Diluted earnings per share attributable to common stockholders:
Weighted average common shares outstanding	52,980		51,781		52,427		51,720
Diluted earnings per common share	$	0.14	$	0.39	$	0.25	$	0.51