DXP ENTERPRISES INC, 10-K filed on 2/26/2026
Annual Report
v3.25.4
COVER - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2025
Feb. 20, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Current Fiscal Year End Date --12-31    
Document Period End Date Dec. 31, 2025    
Document Transition Report false    
Entity File Number 0-21513    
Entity Registrant Name DXP Enterprises, Inc.    
Entity Incorporation, State or Country Code TX    
Entity Address, Address Line One 5301 Hollister    
Entity Address, City or Town Houston    
Entity Address, State or Province TX    
Entity Address, Postal Zip Code 77040    
Entity Tax Identification Number 76-0509661    
City Area Code 713    
Local Phone Number 996-4700    
Title of 12(b) Security Common Stock par value $0.01    
Trading Symbol DXPE    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Document Financial Statement Error Correction [Flag] false    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float     $ 1.1
Entity Common Stock, Shares Outstanding   15,522,213  
Documents Incorporated by Reference
Portions of the definitive proxy statement for our 2026 annual meeting of shareholders are incorporated by reference into Part III hereof. The 2026 proxy statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
    
Entity Central Index Key 0001020710    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.25.4
AUDIT INFORMATION
 12 Months Ended
Dec. 31, 2025
Audit Information [Abstract]  
Auditor Name PricewaterhouseCoopers LLP
Auditor Firm ID 238
Auditor Location Houston, Texas
v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Sales $ 2,016,365 $ 1,802,040 $ 1,678,600
Cost of sales 1,380,437 1,245,763 1,173,309
Gross profit 635,928 556,277 505,291
Selling, general and administrative expenses 459,058 410,895 366,569
Income from operations 176,870 145,382 138,722
Interest expense 60,530 63,927 53,146
Other (income) expense, net (2,882) (3,517) (1,355)
Income before income taxes 119,222 84,972 86,931
Provision for income taxes (Note 10) 30,545 14,483 18,119
Net income 88,677 70,489 68,812
Preferred stock dividend 90 90 90
Net income attributable to common shareholders 88,587 70,399 68,722
Net income 88,677 70,489 68,812
Foreign currency translation adjustments 3,003 (2,370) 435
Comprehensive income $ 91,680 $ 68,119 $ 69,247
Earnings per share (Note 12):      
Basic (in dollars per share) $ 5.65 $ 4.44 $ 4.07
Diluted (in dollars per share) $ 5.37 $ 4.22 $ 3.89
Weighted average common shares outstanding:      
Basic (in shares) 15,667 15,861 16,870
Diluted (in shares) 16,507 16,701 17,710
v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash $ 303,783 $ 148,320
Restricted cash 0 91
Accounts receivable, net of allowance of $3,995 and $5,172, respectively 397,502 339,365
Inventories 108,144 103,113
Costs and estimated profits in excess of billings 53,855 50,735
Prepaid expenses and other current assets 47,033 20,250
Total current assets 910,317 661,874
Property and equipment, net 114,822 81,556
Goodwill 494,561 452,343
Other intangible assets, net 81,351 85,679
Operating lease right of use assets, net 74,709 46,569
Other long-term assets 9,395 21,473
Total assets 1,685,155 1,349,494
Current liabilities:    
Current maturities of debt 8,580 6,595
Trade accounts payable 116,765 103,728
Accrued wages and benefits 51,180 41,650
Customer advances 15,460 13,655
Billings in excess of costs and estimated profits 15,689 12,662
Short-term operating lease liabilities 19,038 14,921
Other current liabilities 45,769 50,773
Total current liabilities 272,481 243,984
Long-term debt, net of unamortized debt issuance costs and discounts 818,476 621,684
Long-term operating lease liabilities 57,509 33,159
Other long-term liabilities 38,250 27,879
Total long-term liabilities 914,235 682,722
Total liabilities 1,186,716 926,706
Commitments and Contingencies (Note 17)
Shareholders' Equity:    
Common stock, $0.01 par value, 100,000,000 shares authorized; 20,403,647 issued and 15,513,590 outstanding at December 31, 2025 and 20,402,861 issued and 15,695,088 outstanding at December 31, 2024 204 204
Additional paid-in capital 220,681 219,511
Retained earnings 478,257 389,670
Accumulated other comprehensive loss (30,607) (33,610)
Treasury stock, at cost 4,890,057 and 4,707,773 shares, respectively (170,112) (153,003)
Total DXP Enterprises, Inc. equity 498,439 422,788
Total liabilities and equity 1,685,155 1,349,494
Series A preferred Stock    
Shareholders' Equity:    
Series A preferred stock, $1.00 par value; 1,000,000 shares authorized. Series B preferred stock, $1.00 par value; 1,000,000 shares authorized 1 1
Series B convertible preferred stock    
Shareholders' Equity:    
Series A preferred stock, $1.00 par value; 1,000,000 shares authorized. Series B preferred stock, $1.00 par value; 1,000,000 shares authorized $ 15 $ 15
v3.25.4
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Allowances for doubtful accounts $ 3,995 $ 5,172
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 100,000,000 100,000,000
Common stock, shares, issued (in shares) 20,403,647 20,402,861
Common stock, shares outstanding (in shares) 15,513,590 15,695,088
Treasury stock, at cost (in shares) 4,890,057 4,707,773
Series A preferred Stock    
Preferred stock, par value (in dollars per share) $ 1.00 $ 1.00
Preferred stock, shares authorized (in shares) 1,000,000 1,000,000
Series B convertible preferred stock    
Preferred stock, par value (in dollars per share) $ 1.00 $ 1.00
Preferred stock, shares authorized (in shares) 1,000,000 1,000,000
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 88,677 $ 70,489 $ 68,812
Reconciliation of net income to net cash provided by operating activities:      
Depreciation 10,372 9,019 8,423
Amortization of intangibles and finance lease assets 28,478 24,386 21,682
Amortization of debt issuance costs 4,041 3,646 2,991
Gain on sale of property and equipment (491) 0 0
Provision for (recovery of) credit losses 220 (887) (885)
Payment of contingent consideration liability in excess of acquisition-date fair value (1,228) (108) (160)
Fair value adjustment on contingent consideration 1,406 745 1,738
Loss on debt extinguishment 0 494 1,201
Restricted stock compensation expense 5,708 4,714 3,072
Deferred income taxes 27,358 (14,990) (9,059)
Other non-cash items (11,390) 3,877 2,342
Changes in operating assets and liabilities, net of effects of businesses acquired:      
Accounts receivable (41,502) (12,552) 13,293
Cost and estimated profits in excess of billings (3,064) (8,506) (18,720)
Inventories 1,037 8,432 (2,026)
Prepaid expenses and other assets (5,732) 2,643 3,830
Trade accounts payable 532 (3,473) 2,144
Accrued expenses 17,875 2,009 5,649
Billings in excess of costs and estimated profits 2,951 3,263 (916)
Income taxes (30,984) 9,010 2,811
Net cash provided by operating activities 94,264 102,211 106,222
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property and equipment (40,286) (25,068) (12,263)
Proceeds from the sale of property and equipment 2,715 0 0
Acquisition of businesses, net of cash acquired (61,675) (156,624) (10,384)
Net cash used in investing activities (99,246) (181,692) (22,647)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Borrowings on asset-backed credit facility 0 6,000 7,870
Repayments on asset-backed credit facility 0 (6,000) (7,870)
Proceeds from issuance of Senior Secured Term Loan B, net of deferred financing costs 848,005 649,500 550,000
Repayments on Senior Secured Term Loan B (643,005) (544,500) (424,856)
Principal payments on debt (7,091) (5,749) (4,652)
Debt issuance costs (3,173) (2,309) (12,061)
Shares repurchased held in treasury (17,109) (29,007) (56,215)
Payment for acquisition contingent consideration liability (7,538) (5,000) (5,673)
Preferred stock dividends paid (90) (90) (90)
Payment for employee taxes withheld from stock awards (4,539) (1,826) (527)
Principal payments on finance leases (6,592) (4,216) (2,347)
Net cash provided by financing activities 158,868 56,803 43,579
Effect of foreign currency on cash 1,486 (2,122) (60)
Net change in cash and restricted cash 155,372 (24,800) 127,094
Cash and restricted cash at beginning of year 148,411 173,211 46,117
Cash and restricted cash at end of year $ 303,783 $ 148,411 $ 173,211
v3.25.4
CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Preferred Stock
Series A preferred Stock
Preferred Stock
Series B preferred Stock
Common Stock
Paid-in Capital
Retained earnings
Accum Other Comp Loss
Treasury stock
Beginning Balance at Dec. 31, 2022 $ 365,392 $ 1 $ 15 $ 345 $ 213,937 $ 250,549 $ (31,675) $ (67,780)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Preferred dividends paid (90)         (90)    
Compensation expense for restricted stock 3,072       3,072      
Tax related items for share based awards (527)       (527)      
Currency translation adjustment 435           435  
Repurchases of shares (55,696)             (55,696)
Excise tax on share repurchases (519)             (519)
Net income 68,812         68,812    
Ending Balance at Dec. 31, 2023 380,879 1 15 345 216,482 319,271 (31,240) (123,995)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Preferred dividends paid (90)         (90)    
Compensation expense for restricted stock 4,714       4,714      
Tax related items for share based awards (1,826)       (1,826)      
Other 0     (141) 141      
Currency translation adjustment (2,370)           (2,370)  
Repurchases of shares (28,783)             (28,783)
Excise tax on share repurchases (225)             (225)
Net income 70,489         70,489    
Ending Balance at Dec. 31, 2024 422,788 1 15 204 219,511 389,670 (33,610) (153,003)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Preferred dividends paid (90)         (90)    
Compensation expense for restricted stock 5,708       5,708      
Tax related items for share based awards (4,538)       (4,538)      
Currency translation adjustment 3,003           3,003  
Repurchases of shares (16,994)             (16,994)
Excise tax on share repurchases (115)             (115)
Net income 88,677         88,677    
Ending Balance at Dec. 31, 2025 $ 498,439 $ 1 $ 15 $ 204 $ 220,681 $ 478,257 $ (30,607) $ (170,112)
v3.25.4
THE COMPANY
 12 Months Ended
Dec. 31, 2025
THE COMPANY [Abstract]  
THE COMPANY THE COMPANY
DXP Enterprises, Inc. together with its subsidiaries (collectively “DXP,” “Company,” “us,” “we,” or “our”) was incorporated in Texas on July 26, 1996. The Company and its subsidiaries are engaged in the business of distributing maintenance, repair and operating (MRO) products, and service to customers serving a variety of end markets. Additionally, the Company provides integrated, custom pump skid packages, pump remanufacturing and manufactures branded private label pumps to energy and industrial customers. The Company is organized into three business segments: Service Centers (“SC”), Innovative Pumping Solutions (“IPS”), and Supply Chain Services (“SCS”). See Note 20 - Segment Reporting for discussion of the business segments.
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES
Basis of Presentation
The Company’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). The accompanying consolidated financial statements include the accounts of the Company, and its wholly owned subsidiaries.

All intercompany accounts and transactions have been eliminated in consolidation.

Reclassifications
Certain reclassifications were made to the prior year’s consolidated financial statements to conform to the current year presentation. Such reclassifications did not have a material effect on our consolidated statements of operations and comprehensive income, balance sheets, cash flows or equity.

Business Combinations
We allocate the total purchase price of a business combination to the assets acquired and the liabilities assumed based on their estimated fair values at the acquisition date, with the excess purchase price recorded as goodwill. For material acquisitions, we engage third-party valuation specialists to assist us in determining the fair value of the assets acquired and liabilities assumed, including goodwill, based on recognized business valuation methodologies. If the initial accounting for the business combination is incomplete by the end of the reporting period in which the acquisition occurs, an estimate will be recorded. Subsequent to the acquisition, and not later than one year from the acquisition date, we will record any material adjustments to the initial estimate in the reporting period in which the adjustment amounts are determined based on facts and circumstances that existed as of the acquisition date, as applicable. Generally, we use an income valuation method to estimate the fair value of the assets acquired or liabilities assumed in a business combination. However, a market or cost valuation method may be utilized.

We expense acquisition-related costs as incurred in connection with each business combination.

Foreign Currency
The financial statements of the Company’s foreign subsidiaries are measured using local currencies as their functional currencies. Assets and liabilities are translated into U.S. dollars at current exchange rates, while income and expenses are translated at average exchange rates. Translation gains and losses are reported in other comprehensive income (loss). Gains and losses on transactions denominated in foreign currency are reported in the consolidated statements of operations and comprehensive income (loss).

Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions in determining the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates.
Cash
The Company places its cash with institutions with high credit quality. However, at certain times, such cash may be in excess of Federal Deposit Insurance Corporation (“FDIC”) insurance limits. The Company has not historically experienced any losses when in excess of these limits.

Receivables and Credit Risk
Trade receivables consist primarily of uncollateralized customer obligations due under normal trade terms, which usually require payment within 30 days of the invoice date. However, these payment terms are extended in select cases and customers may not pay within stated trade terms.

The Company has trade receivables from a diversified customer base located primarily in the Rocky Mountain, Northeastern, Midwestern, Southeastern and Southwestern regions of the U.S. and Canada. The Company believes no significant concentration of credit risk exists. The Company evaluates the creditworthiness of its customers' financial positions and monitors accounts on a regular basis. Provisions to the allowance for doubtful accounts are made monthly and adjustments are made periodically based upon management’s best estimate of the collectability of such accounts under the current expected credit losses model. The Company writes off uncollectible trade accounts receivable when the accounts are determined to be uncollectible. No customer represents more than 10% of consolidated sales.

Changes in this allowance for 2025 and 2024 are as follows (in thousands):

 20252024
Beginning balance, January 1
$5,172 $5,584 
Charges to (recoveries of) expense
220 (887)
Foreign currency translation
(73)(42)
Write-offs and other
(1,324)517 
Ending balance, December 31
$3,995  $5,172 

Inventories
Inventories are comprised of equipment purchased for resale, and materials utilized in the fabrication of industrial and wastewater equipment stated at lower of cost and net realizable value, primarily determined using the weighted average cost method. The Company regularly reviews inventory and records provisions for the difference between cost and net realizable value arising from excess and obsolete items on hand based upon the aging of the inventories, market trends, and continued demand.

The carrying values of inventories are as follows (in thousands):

December 31,
 20252024
Finished goods$98,089 $89,780 
Work in process10,055 13,333 
Inventories$108,144 $103,113 

Property and Equipment
Property and equipment are recorded on a historical cost basis. Depreciation of property and equipment is computed using the straight-line method over their estimated useful lives. Maintenance and repairs of depreciable assets are charged against earnings as incurred. When properties are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and gains or losses are credited or charged to earnings.

The principal estimated useful lives used in determining depreciation are as follows:

Buildings
20-39 years
Building improvements
10-20 years
Furniture, fixtures and equipment
3-20 years
Leasehold improvementsShorter of estimated useful life or related lease term
Impairment of Goodwill and Other Intangible Assets
The Company tests goodwill for impairment on an annual basis on October 1st and when events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company assigns the carrying value of goodwill to its reporting units and applies the test for goodwill at the reporting unit level. A reporting unit is defined as an operating segment or one level below a segment (a “component”) if the component is a business and discrete information is prepared and reviewed regularly by segment management.

The Company’s goodwill impairment assessment first permits evaluating qualitative factors to determine if a reporting unit's carrying value would more likely than not exceed its fair value. If the Company concludes, based on the qualitative assessment, that a reporting unit's carrying value would more likely than not exceed its fair value, the Company would perform a quantitative test for that reporting unit. Should the reporting unit's carrying amount exceed the fair value, then an impairment charge for the excess would be recognized. The impairment charge is limited to the amount of goodwill allocated to the reporting unit and goodwill will not be reduced below zero. The Company performed qualitative tests and determined no impairment of goodwill was required for the years ended December 31, 2025, 2024 and 2023.

Impairment of Long-Lived Assets, Excluding Goodwill
The Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value. No impairment of long-lived assets was required for the years ended December 31, 2025, 2024 and 2023.

Revenue Recognition
The Company primarily provides purchased products distributed through its local Service Centers and provides services through its local branch network and recognizes revenue at a point in time when control of the product or service performed transfers to the customer, typically upon shipment or completion from a DXP facility or directly from a supplier or completion of the service. Revenue is measured at the amount of consideration expected to be received in exchange for the products and services provided, net of allowances for product returns, and any taxes collected from customers that will be remitted to governmental authorities. The Service Centers segment primarily provides a wide range of maintenance, repair and operating (MRO) products, equipment and integrated services, including logistics capabilities, to industrial customers. The Supply Chain Services segment also provides a wide range of MRO products as well as manages all or part of various customers' supply chain, including warehouse and inventory management services. Revenue is recognized upon the completion of our performance obligation(s) under the sales agreement. The majority of the Service Centers and Supply Chain Services segment revenues originate from the satisfaction of a single performance obligation--the delivery of products. Revenues are recognized when an agreement is in place, the performance obligations under the contract have been satisfied, and the price or consideration to be received is fixed and allocated to the performance obligation(s) in the contract. We believe our performance obligation has been satisfied when title passes to the customer or services have been rendered under the contract. Revenues are recorded net of sales taxes. The Company reserves for potential customer returns based upon historical levels.
The Company also assembles, kits, and fabricates custom-made pump packages, remanufactures pumps, and manufactures branded private label pumps substantially within our Innovative Pumping Solutions segment. For binding agreements to assemble, fabricate and direct tangible assets to customer specifications, the Company recognizes revenues over time when the customer is able to direct the use of and obtain substantially all of the benefits of the work performed. This occurs when the products have no alternative use for us and we have a right to payment for the work completed to date plus a reasonable profit margin. Contracts include cancellation provisions that require the customer to reimburse us for costs incurred through the date of cancellation. We recognize revenue for these contracts using the percentage of completion method, an “input method” as defined by ASC 606, “Revenue from Contracts with Customers”. Under this method, we recognize sales and profit based upon the cost-to-cost method, in which sales and profit are recorded based upon the ratio of costs incurred to estimated total costs to complete the asset. The percentage-of-completion method of accounting requires the Company to estimate the project costs at completion. Revenues are estimated based upon the original contract price and change orders. Contract costs may be incurred over a period of several months, and the estimation of these costs requires judgment based upon the acquired knowledge and experience of program managers, engineers, and finance professionals. Estimated costs are based primarily on purchase contract terms and estimated cost of materials, labor productivity and cost, and overhead. Percentage of completion revenues were $373.3 million, $293.3 million, and $311.0 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Shipping and Handling Costs
The Company classifies shipping and handling charges billed to customers as sales. Shipping and handling charges paid to others are classified as a component of cost of sales.

Cost of Sales and Selling, General and Administrative Expense
Cost of sales includes product and product-related costs, inbound freight charges, internal transfer costs, and depreciation. Selling, general and administrative expenses include purchasing and receiving costs, inspection costs, warehousing costs, depreciation, and amortization.

Income Taxes
The Company utilizes the asset and liability method of accounting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and income tax bases of assets and liabilities. Such deferred income tax asset and liability computations are based on enacted tax laws and rates applicable to periods in which the differences are expected to reverse. Valuation allowances are established to reduce deferred income tax assets to the amounts expected to be realized under a more likely than not criterion.

Accounting for Uncertainty in Income Taxes
A position taken or expected to be taken in a tax return is recognized in the financial statements when it is more likely than not (i.e. a likelihood of more than fifty percent) that the position would be sustained upon examination by tax authorities. A recognized tax position is then measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states. With few exceptions, the Company is no longer subject to U.S. federal, state and local tax examination by tax authorities for years prior to 2015. The Company believes that it has appropriate support for the income tax positions taken and to be taken on its tax returns and that its accruals for tax liabilities are adequate for all open years based on an assessment of many factors including past experience and interpretations of tax law applied to the facts of each matter.

Comprehensive Income
Comprehensive income includes net income and foreign currency translation adjustments. The Company’s other comprehensive income is from translating balances at foreign subsidiaries to the reporting currency.
v3.25.4
RECENT ACCOUNTING PRONOUNCEMENTS
 12 Months Ended
Dec. 31, 2025
Accounting Standards Update and Change in Accounting Principle [Abstract]  
RECENT ACCOUNTING PRONOUNCEMENTS RECENT ACCOUNTING PRONOUNCEMENTS
All new accounting pronouncements that have been issued but not yet effective are currently being evaluated and at this time are not expected to have a material impact on our financial position or results of operations.

Recently Adopted Accounting Pronouncements

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis; however, a retrospective basis is permitted for annual periods beginning after December 15, 2024. Early adoption of this standard is permitted. The Company adopted this accounting standard update using a retrospective approach effective December 31, 2025, and included the required income tax disclosures in our notes to the financial statements. This ASU resulted in required additional disclosures with no impact to our consolidated financial statements. See further discussion at Note 10 - Income Taxes.

Accounting Pronouncements Not Yet Adopted

In November 2024, the FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses (Subtopic 220-40). The ASU requires the disaggregated disclosure of specific expense categories, including purchases of inventory, employee compensation, depreciation, and amortization, within relevant income statement captions. This ASU also requires disclosure of the total amount of selling expenses along with the definition of selling expenses. The ASU is effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Adoption of this ASU can either be applied prospectively to consolidated financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the consolidated financial statements. Early adoption is also permitted. This ASU will likely result in the required additional disclosures being included in our consolidated financial statements, once adopted. We are currently evaluating the provisions of this ASU.
v3.25.4
LEASES
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
LEASES LEASES
We lease office space, warehouses, land, automobiles, buildings, and manufacturing equipment. Some of our leases include one or more renewal options to extend the lease term, which can be exercised at our sole discretion. Our lease agreements may include options to purchase the leased property. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Additionally, we do not have any material lessor or sub-leasing arrangements.

The following table presents components of lease cost (in thousands):

 
Twelve Months Ended December 31,
 202520242023
Operating lease costs
$23,059 $21,210 $21,575 
Finance lease costs:
Amortization of assets
6,808 4,559 3,451 
Interest on lease liabilities
1,467 1,108 595 
Total finance lease costs
8,275 5,667 4,046 
Total operating and finance lease costs$31,334 $26,877 $25,621 
The following table presents the consolidated balance sheet location of assets and liabilities related to operating and finance leases (in thousands):
December 31,
Balance Sheet Location
20252024
Operating
Operating lease right of use assets, net
$74,709 $46,569 
Finance
Property and equipment, net
20,106 15,829 
Total lease assets
$94,815 $62,398 
Current operating
Short-term operating lease liabilities19,038 14,921 
Non-current operating
Long-term operating lease liabilities57,509 33,159 
Current finance
Other current liabilities
7,660 5,321 
Non-current finance
Other long-term liabilities
13,223 11,055 
Total lease liabilities$97,430 $64,456 

As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments.

As of December 31, 2025 maturities of lease liabilities are as follows (in thousands):

Finance
Operating
2026$8,894 $24,481 
20277,246 20,671 
20284,839 15,565 
20292,014 12,112 
2030149 9,502 
Thereafter— 10,569 
Total future lease payments
23,142 92,900 
Less: imputed interest2,259 16,353 
Total lease liability balance
$20,883 $76,547 

The following table presents cash paid for leases, assets exchanged for operating and finance leases, and weighted average remaining lease terms, and discount rates:

December 31,
20252024
Cash paid for operating leases
$22,658 $20,886 
Cash paid for finance leases
$6,592 $4,216 
Assets obtained in exchange for operating lease obligations, initial recognition
$23,499 $4,551 
Assets obtained in exchange for finance lease obligations
$10,965 $8,441 
Weighted-average remaining lease term - operating leases
4.8 years
3.9 years
Weighted-average remaining lease term - finance leases
3.0 years3.2 years
Weighted average discount rate - operating leases
8.3%8.1%
Weighted-average discount rate - finance leases
7.5%8.5%

The Company incurred approximately $2.3 million, $1.9 million, and $1.8 million in lease expenses to entities controlled by the Company's Chief Executive Officer and family for the years ended December 31, 2025, 2024 and 2023, respectively.
LEASES LEASES
We lease office space, warehouses, land, automobiles, buildings, and manufacturing equipment. Some of our leases include one or more renewal options to extend the lease term, which can be exercised at our sole discretion. Our lease agreements may include options to purchase the leased property. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Additionally, we do not have any material lessor or sub-leasing arrangements.

The following table presents components of lease cost (in thousands):

 
Twelve Months Ended December 31,
 202520242023
Operating lease costs
$23,059 $21,210 $21,575 
Finance lease costs:
Amortization of assets
6,808 4,559 3,451 
Interest on lease liabilities
1,467 1,108 595 
Total finance lease costs
8,275 5,667 4,046 
Total operating and finance lease costs$31,334 $26,877 $25,621 
The following table presents the consolidated balance sheet location of assets and liabilities related to operating and finance leases (in thousands):
December 31,
Balance Sheet Location
20252024
Operating
Operating lease right of use assets, net
$74,709 $46,569 
Finance
Property and equipment, net
20,106 15,829 
Total lease assets
$94,815 $62,398 
Current operating
Short-term operating lease liabilities19,038 14,921 
Non-current operating
Long-term operating lease liabilities57,509 33,159 
Current finance
Other current liabilities
7,660 5,321 
Non-current finance
Other long-term liabilities
13,223 11,055 
Total lease liabilities$97,430 $64,456 

As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments.

As of December 31, 2025 maturities of lease liabilities are as follows (in thousands):

Finance
Operating
2026$8,894 $24,481 
20277,246 20,671 
20284,839 15,565 
20292,014 12,112 
2030149 9,502 
Thereafter— 10,569 
Total future lease payments
23,142 92,900 
Less: imputed interest2,259 16,353 
Total lease liability balance
$20,883 $76,547 

The following table presents cash paid for leases, assets exchanged for operating and finance leases, and weighted average remaining lease terms, and discount rates:

December 31,
20252024
Cash paid for operating leases
$22,658 $20,886 
Cash paid for finance leases
$6,592 $4,216 
Assets obtained in exchange for operating lease obligations, initial recognition
$23,499 $4,551 
Assets obtained in exchange for finance lease obligations
$10,965 $8,441 
Weighted-average remaining lease term - operating leases
4.8 years
3.9 years
Weighted-average remaining lease term - finance leases
3.0 years3.2 years
Weighted average discount rate - operating leases
8.3%8.1%
Weighted-average discount rate - finance leases
7.5%8.5%

The Company incurred approximately $2.3 million, $1.9 million, and $1.8 million in lease expenses to entities controlled by the Company's Chief Executive Officer and family for the years ended December 31, 2025, 2024 and 2023, respectively.
v3.25.4
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
Authoritative guidance for financial assets and liabilities measured on a recurring basis applies to all financial assets and financial liabilities that are being measured and reported on a fair value basis. Fair value, as defined in the authoritative guidance, is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The authoritative guidance affects the fair value measurement of an investment with quoted market prices in an active market for identical instruments, which must be classified in one of the following categories:

Level 1 Inputs

Level 1 inputs come from quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 Inputs

Level 2 inputs are other than quoted prices that are observable for an asset or liability. These inputs include: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from, or corroborated by, observable market data by correlation or other means.

Level 3 Inputs

Level 3 inputs are unobservable inputs for the asset or liability which require the Company's own assumptions. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels.

Our acquisitions may include contingent consideration as part of the purchase price. The fair value of the contingent consideration is estimated as of the acquisition date based on the present value of the contingent payments to be made using a weighted probability of possible payments. The unobservable inputs used in the determination of the fair value of the contingent consideration include management's assumptions about the likelihood of payment based on the established benchmarks and discount rates based on an internal rate of return analysis. The fair value measurement includes inputs that are Level 3 inputs as discussed above, as they are not observable in the market. Should actual results increase or decrease as compared to the assumptions used in our analysis, the fair value of the contingent consideration obligations will increase or decrease, up to the contracted limit, as applicable. Changes in the fair value of the contingent consideration are measured during each reporting period and reflected in our results of operations.

During the twelve months ended December 31, 2025, we recorded $13.8 million in other current and other long-term liabilities for contingent consideration. See further discussion at Note 16 - Business Acquisitions.
For the Company's assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), the following table provides a reconciliation of the beginning and ending balances for each category therein and gains or losses recognized during the last three fiscal years (in thousands):

 Contingent Consideration
Balance at December 31, 2022$10,166 
Acquisitions and settlements:
     Acquisitions2,682 
     Settlements
(5,833)
Total remeasurement adjustments:
     Changes in fair value recorded in other (income) expense, net
1,738 
Balance at December 31, 20238,753 
Acquisitions and settlements:
     Acquisitions
11,932 
     Settlements
(5,108)
Total remeasurement adjustments:
     Changes in fair value recorded in other (income) expense, net
745 
Balance at December 31, 2024(1)
16,322 
Acquisitions and settlements:
     Acquisitions (Note 16)
4,813 
     Settlements(8,766)
Total remeasurement adjustments:
     Changes in fair value recorded in other (income) expense, net1,406 
Balance at December 31, 2025(1)
$13,775 
(1) Amounts included in other current liabilities were $9.4 million and $8.0 million for the periods ending December 31, 2025 and December 31, 2024, respectively. Amounts included in other long-term liabilities were $4.4 million and $8.3 million for the periods ending December 31, 2025 and December 31, 2024, respectively.
Quantitative Information about Level 3 Fair Value Measurements

The significant unobservable inputs used in the fair value measurement of the Company's contingent consideration liabilities designated as Level 3 are as follows:

Fair Value at December 31, 2025Valuation TechniqueSignificant Unobservable Inputs
$13,775 Discounted cash flowAnnualized EBITDA and probability of achievement

Sensitivity to Changes in Significant Unobservable Inputs

The significant Level 3 unobservable inputs used in the fair value measurement of contingent consideration related to the acquisitions are annualized EBITDA forecasts developed by the Company's management and the probability of achievement of those EBITDA results. The discount rate used in the calculation was 8.3%. A decrease in discount rates would increase the contingent consideration liability, whereas an increase or decrease in EBITDA forecasts would increase or decrease the contingent liability. Changes in our unobservable inputs in isolation would result in a change to our fair value measurement. As of December 31, 2025, the maximum amount of contingent consideration payable under these arrangements is $14.9 million over three years.

Other financial instruments not measured at fair value on the Company's consolidated balance sheets at December 31, 2025 and December 31, 2024, but which require disclosure of their fair values include: cash, restricted cash, accounts receivable, trade accounts payable and accrued expenses. The Company believes that the estimated fair value of such instruments at December 31, 2025 and December 31, 2024 approximates their carrying value as reported on the consolidated balance sheets due to the relative short maturity of these instruments.
See Note 9 - Long-term Debt for fair value disclosures on our asset-backed line of credit and term loan debt under our syndicated credit agreement facilities.
v3.25.4
CONTRACT ASSETS AND LIABILITIES
 12 Months Ended
Dec. 31, 2025
Contractors [Abstract]  
CONTRACT ASSETS AND LIABILITIES CONTRACT ASSETS AND LIABILITIES
Under our customized pump production contracts, amounts are billed as work progresses in accordance with agreed-upon contractual terms, upon various measures of performance, including achievement of certain milestones, completion of specified units, or completion of a contract. Generally, billing occurs subsequent to revenue recognition, resulting in contract assets presented as “Cost and estimated profits in excess of billings” on our Consolidated Balance Sheets. However, we sometimes receive advances or deposits from our customers before revenue is recognized, resulting in contract liabilities that are presented as “Billings in excess of costs and estimated profits” on our Consolidated Balance Sheets.

Costs and estimated profits on uncompleted contracts and related amounts billed were as follows (in thousands):
 December 31,
 202520242023
Costs incurred on uncompleted contracts$147,866 $122,951 $92,363 
Estimated profits, thereon71,260 58,373 37,379 
Total costs and estimated profits on uncompleted contracts
219,126 181,324 129,742 
Less: billings to date180,960 143,251 96,925 
Total
$38,166 $38,073 $32,817 

Such amounts were included in the accompanying Consolidated Balance Sheets for 2025 and 2024 under the following captions (in thousands):
 December 31,
 202520242023
Costs and estimated profits in excess of billings $53,855 $50,735 $42,323 
Billings in excess of costs and estimated profits(15,689)(12,662)(9,506)
Net contract assets
$38,166 $38,073 $32,817 
During the twelve months ended December 31, 2025, 2024 and 2023, $10.4 million, $7.4 million, and $10.4 million of the balances that were previously classified as contract liabilities at the beginning of the period were recognized into revenues, respectively.
REVENUE
The Company disaggregates revenue based upon our geography and our reportable segments - Service Centers, Innovative Pumping Solutions and Supply Chain Services. Each of our geographic and reportable business segments are impacted and influenced by varying factors, including the macroeconomic environment, maintenance and capital spending and commodity prices and exploration and production activity. As such, we believe this information is important in depicting the nature, timing and uncertainty of our contracts with customers. The following Geographical Information and Note 20 - Segment Reporting present our revenue disaggregated by source.

Geographical Information
Revenues are presented in geographic area based on location of the facility shipping products or providing services.

The Company’s revenues by geographical location are as follows (in millions):
  Years Ended December 31,
 202520242023
United States$1,939 $1,721 $1,602 
Canada75 79 75 
Other
2 2 2 
Total$2,016 $1,802 $1,679 
Recent Acquisitions

We define and calculate organic sales to include locations and acquisitions under our ownership for at least twelve months. "Acquisition Sales" are sales from acquisitions that have been under our ownership for less than twelve months and are excluded in our calculation of Organic Sales.
The following tables sets forth the disaggregation of revenue from sales associated with recent acquisitions for the twelve months ended December 31, 2025 and 2024 (in thousands):


SalesAcquisition SalesOrganic Sales
Twelve Months Ended December 31, 2025
Service Centers$1,373,140 $56,164 $1,316,976 
Innovative Pumping Solutions390,291 39,879 350,412 
Supply Chain Services252,934 — 252,934 
Total Sales$2,016,365 $96,043 $1,920,322 
Twelve Months Ended December 31, 2024
Service Centers (1)
$1,236,775 $36,944 $1,199,831 
Innovative Pumping Solutions (1)
308,850 61,556 247,294 
Supply Chain Services256,415 — 256,415 
Total Sales$1,802,040 $98,500 $1,703,540 
$ Change
Service Centers$136,365 $19,220 $117,145 
Innovative Pumping Solutions81,441 (21,677)103,118 
Supply Chain Services(3,481)— (3,481)
Total $ Change$214,325 $(2,457)$216,782 
% Change
Service Centers11.0 %52.0 %9.8 %
Innovative Pumping Solutions26.4 %(35.2)%41.7 %
Supply Chain Services(1.4)%N/A(1.4)%
Total % Change11.9 %(2.5)%12.7 %
(1) Prior period segment disclosures have been recast. For additional information, please refer to Note 20. Segment Reporting.
The following tables sets forth the disaggregation of revenue from sales associated with recent acquisitions for the twelve months ended December 31, 2024 and 2023 (in thousands):


SalesAcquisition SalesOrganic Sales
Twelve Months Ended December 31, 2024
Service Centers (1)
$1,236,775 $36,944 $1,199,831 
Innovative Pumping Solutions (1)
308,850 61,556 247,294 
Supply Chain Services256,415 — 256,415 
Total Sales$1,802,040 $98,500 $1,703,540 
Twelve Months Ended December 31, 2023
Service Centers (1)
$1,214,602 $19,275 $1,195,327 
Innovative Pumping Solutions (1)
203,630 13,803 189,827 
Supply Chain Services260,368 — 260,368 
Total Sales$1,678,600 $33,078 $1,645,522 
$ Change
Service Centers$22,173 $17,669 $4,504 
Innovative Pumping Solutions105,220 47,753 57,467 
Supply Chain Services(3,953)— (3,953)
Total $ Change$123,440 $65,422 $58,018 
% Change
Service Centers1.8 %91.7 %0.4 %
Innovative Pumping Solutions51.7 %346.0 %30.3 %
Supply Chain Services(1.5)%N/A(1.5)%
Total % Change7.4 %197.8 %3.5 %
(1) Prior period segment disclosures have been recast. For additional information, please refer to Note 20. Segment Reporting.
v3.25.4
PROPERTY AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET PROPERTY AND EQUIPMENT, NET
The carrying values of property and equipment, net are as follows (in thousands):

December 31,
 20252024
Land$1,704 $1,704 
Buildings and leasehold improvements37,667 32,652 
Furniture, fixtures and equipment177,046 137,058 
Finance lease right of use assets
34,577 23,612 
Less – Accumulated depreciation and amortization
(136,172)(113,470)
Property and equipment, net
$114,822 $81,556 

Depreciation expense was $10.4 million, $9.0 million, and $8.4 million for the years ended December 31, 2025, 2024, and 2023, respectively. Capital expenditures by segment are included in Note 20 - Segment Reporting.
v3.25.4
GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
The following table presents the changes in the carrying amount of goodwill and other intangible assets during the year ended December 31, 2025 (in thousands):
 Goodwill
Other
Intangible
Assets, Net
Total
Balances as of December 31, 2024$452,343 $85,679 $538,022 
Translation adjustment870 — 870 
Acquisitions 41,348 17,342 58,690 
Amortization— (21,670)(21,670)
Balances as of December 31, 2025$494,561 $81,351 $575,912 

The following table presents the changes in the carrying amount of goodwill and other intangible assets during the year ended December 31, 2024 (in thousands):
 Goodwill
Other
Intangible
Assets, Net
Total
Balances as of December 31, 2023$343,991 $63,895 $407,886 
Translation adjustment(1,380)(10)(1,390)
Acquisitions109,732 41,621 151,353 
Amortization— (19,827)(19,827)
Balances as of December 31, 2024$452,343 $85,679 $538,022 

The following table presents the goodwill balance by reportable segment as of December 31, 2025 and 2024 (in thousands):
December 31,
 20252024
Service Centers$349,860 $335,611 
Innovative Pumping Solutions127,562 99,593 
Supply Chain Services17,139 17,139 
Total$494,561 $452,343 
Gross carrying amounts as well as accumulated amortization are partially affected by the fluctuation of foreign currency rates.
Other intangible assets are amortized according to estimated economic benefits over their estimated useful lives. Amortization expense was $21.7 million, $19.8 million, and $18.2 million for the years ended December 31, 2025, 2024, and 2023, respectively. The estimated future annual amortization of intangible assets for each of the next five years and thereafter are as follows (in thousands):
Amount
2026$20,724 
202718,708 
202816,412 
20299,107 
20306,582 
Thereafter9,818 
Total$81,351 
The weighted average remaining estimated life for customer relationships, trade names, and non-compete agreements are 5.4, 8.4, and 3.2 years, respectively.
v3.25.4
LONG-TERM DEBT
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
Long-term debt consisted of the following (in thousands):
December 31,
 20252024
ABL Revolver$— $— 
Senior Secured Term Loan B due October 13, 2030(1)
845,885 647,876 
Promissory Note due November 1, 2029
900 1,000 
Total debt
846,785 648,876 
Less: current maturities
(8,580)(6,595)
Total long-term debt
838,205 642,281 
Unamortized discount and debt issuance costs
19,729 20,597 
Long-term debt, net of unamortized discount and debt issuance costs
$818,476 $621,684 
(1) The fair value of the Amended Term Loan B due October 13, 2030 using level 2 input values was $854.3 million and $657.6 million as of December 31, 2025 and December 31, 2024, respectively.
Senior Secured Term Loan B:

On December 16, 2025, the Company entered into an amendment (the “Term Loan Amendment”), by and among the Company, certain of the Company’s subsidiaries, as guarantors (the “Guarantors”), the incremental lenders party thereto and Goldman Sachs Bank USA as agent (the “Agent”).

The Term Loan Amendment amends and supplements the Term Loan and Security Agreement, dated as of December 23, 2020, by and among the Company, the Guarantors, the lenders party thereto and the Agent (as amended by Amendment No. 1 and Joinder Agreement to Term Loan and Security Agreement, dated as of November 22, 2022, as further amended by Amendment No. 2 and Joinder Agreement to Term Loan and Security Agreement, dated as of October 13, 2023, and as further amended by Amendment No. 3 and Joinder Agreement to Term Loan and Security Agreement, dated as of October 3, 2024, the “Existing Term Loan Agreement”; the Existing Term Loan Agreement, as further amended by the Term Loan Amendment, the “Term Loan Agreement”).

The Term Loan Amendment provides for, among other things, (i) adjustments to certain financial ratio covenant compliance dates and (ii) $205.0 million in new incremental term loan commitments (the “2025 Incremental Term Loans”) under the Term Loan Agreement, such that after giving effect to the Term Loan Amendment, including the 2025 Incremental Term Loans, the Company has $848.0 million in outstanding borrowings under the Term Loan Agreement.

As of December 31, 2025 there was $845.9 million outstanding under the Senior Secured Term Loan B.

In connection with the Term Loan Amendment the Company expensed third-party fees of $1.2 million. Deferred financing costs associated with the Term Loan Amendment were $2.9 million which were amortized to interest expense using the effective interest method during 2025.

Interest rate

Quarterly interest payments accrue on outstanding borrowings under the Amended Senior Secured Term Loan B at a rate equal to Term SOFR (with a floor of 1.00%) plus 3.25%, or base rate plus 2.25%. The Amended Senior Secured Term Loan B is guaranteed by each of the Company’s direct and indirect material wholly owned subsidiaries, other than any of the Company’s Canadian subsidiaries and certain other excluded subsidiaries.

The interest rate for the Amended Senior Secured Term Loan B was 7.17% and 8.32% as of December 31, 2025 and December 31, 2024.
Facility Size Increases

The Amended Senior Secured Term Loan B allows for incremental increases in facility size up to an aggregate amount of $100 million.

Prepayments

We are required to repay the Amended Senior Secured Term Loan B with the proceeds from certain asset sales, certain debt issuances, and certain insurance proceeds. In addition, on an annual basis, we are required to repay an amount equal to 50% of Excess Cash Flow, as defined in the Amended Senior Secured Term Loan B, reducing to 25% if our Total Leverage Ratio is less than or equal to 3.00 to 1.00. No payment of excess cash flow is required if the Total Leverage Ratio is less than or equal to 2.50 to 1.00.

Restrictive Covenants

The Company’s primary financial covenant under the Term Loan B is a Secured Leverage Ratio, The Term Loan B Agreement requires that the Company’s Secured Leverage Ratio, defined as the ratio, as of the last day of any fiscal quarter of consolidated secured debt (net of unrestricted cash, not to exceed $330 million) as of such day to EBITDA, beginning with the fiscal quarter ending December 31, 2025, is either equal to or less than as indicated in the table below:

Fiscal QuarterSecured Leverage Ratio
December 31, 2025
5.75:1.00
March 31, 2026
5.75:1.00
June 30, 2026
5.50:1.00
September 30, 2026
5.50:1.00
December 31, 2026
5.50:1.00
March 31, 2027
5.25:1.00
June 30, 2027
5.25:1.00
September 30, 2027
5.25:1.00
December 31, 2027
5.00:1.00
March 31, 2028
5.00:1.00
June 30, 2028 and thereafter
4.75:1.00

As of December 31, 2025, the Company’s Secured Leverage Ratio was 2.25 to 1.00.

The Term Loan contains restrictive covenants (in each case, subject to exclusions) that limit, among other things, the ability of the Company and its restricted subsidiaries to:

•make investments, including acquisitions;
•prepay certain indebtedness;
•grant liens;
•incur additional indebtedness;
•sell assets;
•make fundamental changes to our business;
•enter into transactions with affiliates; and
•pay dividends.

The Term Loan also contains other customary restrictive covenants. The covenants are subject to various baskets and materiality thresholds, with certain of the baskets permitted by the restrictions on the repayment of subordinated indebtedness, restricted payments and investments being available only when the Senior Secured Leverage Ratio of the Company is below certain levels.
EBITDA as defined under the Term Loan B Agreement for financial covenant purposes means, without duplication, for any period of determination, the sum of, consolidated net income during such period; plus to the extent deducted from consolidated net income in such period: (i) income tax expense, (ii) franchise tax expense, (iii) interest expense, (iv) amortization and depreciation during such period, (v) all non-cash charges and adjustments, and (vi) non-recurring cash expenses related to the Term Loan, provided, that if the Company acquires or disposes of any property during such period (other than under certain exceptions specified in the Term Loan B Agreement, including the sale of inventory in the ordinary course of business, then EBITDA shall be calculated, after giving pro forma effect to such acquisition or disposition, as if such acquisition or disposition had occurred on the first day of such period.

ABL Revolver:

On July 1, 2025, the Company entered into an Increase Agreement (the “Increase Agreement”) to which the aggregate commitments under the Company's existing asset-based revolving credit facility (the "ABL Facility") were increased by $50 million. Following the effectiveness of the Increase Agreement, the total commitments under the ABL Facility increased from $135.0 million to $185.0 million. Subject to the conditions set forth in the ABL Credit Agreement, the ABL Revolver may be increased in increments of $10.0 million up to an aggregate of $50.0 million. The ABL Revolver matures on July 19, 2027. Interest accrues on outstanding borrowings at a rate equal to Secured Overnight Financing Rate (“SOFR”) or Canadian Dollar Offered Rate (“CDOR”) plus a margin ranging from 1.25% to 1.75% per annum, or at an alternate base rate, Canadian prime rate or Canadian base rate plus a margin ranging from 0.25% to 0.75% per annum, in each case, based upon the average daily excess availability under the ABL Revolver for the most recently completed calendar quarter. Fees payable on the unused portion of the facility range from 0.25% to 0.375% per annum. At December 31, 2025 the unused line fee was 0.375% and there were no amounts outstanding under the ABL Revolver.

Guarantees

Each of our current and future wholly owned material U.S. subsidiaries and DXP Enterprises, Inc. guarantees the obligations of our borrower under the ABL Revolver. Additionally, each of our Canadian subsidiaries guarantees the obligations of our Canadian borrower subsidiaries under the ABL Revolver.

Security

Obligations under the U.S. Borrowing Base are primarily secured, subject to certain exceptions, by a first-priority secure interest in the accounts receivable, inventory and related assets of our wholly owned, material U.S. subsidiaries. The security interest in accounts receivable, inventory, and related assets of the U.S. borrower subsidiaries ranks prior to the security interest in this collateral which secures the Term Loan B. The obligations under the Canadian Borrowing Base are primarily secured, subject to certain exceptions, by a first-priority secure interest in the accounts receivable, inventory and related assets of our wholly owned, material Canadian subsidiaries and our wholly owned material U.S. subsidiaries.

Interest rate

The interest rate for the ABL Revolver was 7.00% and 7.75% as of December 31, 2025 and December 31, 2024, respectively.

Facility Size Increases

Effective July 1, 2025, the Company exercised its right to increase the ABL Credit Agreement by an aggregate amount of $50 million.

Excess Availability

As of December 31, 2025, the borrowing availability under our credit facility was $153.5 million compared to $125.6 million at December 31, 2024. Letters of credit issued under the ABL Revolver in the aggregate face amount of $31.5 million and $9.3 million were outstanding on December 31, 2025 and December 31, 2024, respectively.
 
Financial Covenant

The Company's financial covenant under the ABL Credit Agreement include a Fixed Charge Coverage Ratio. The Fixed Charge Coverage Ratio under the ABL Credit Agreement is defined as the ratio for the most recently completed four-fiscal quarter period, of (a) EBITDA minus capital expenditures (excluding those financed or funded with debt (other than the ABL Loans), (ii) the portion thereof funded with the net proceeds from asset dispositions of equipment or real property which the Company is permitted to reinvest pursuant to the Term Loan and the portion thereof funded with the net proceeds of casualty insurance or condemnation awards in respect of any equipment and real estate which DXP is not required to use to prepay the ABL Loans pursuant to the Term Loan B Agreement or with the proceeds of casualty insurance or condemnation awards in respect of any other property) minus cash taxes paid (net of cash tax refunds received during such period), to (b) fixed charges. The Company is restricted from allowing its Fixed Charge Coverage Ratio to be less than 1.00 to 1.00 during a compliance period, which is triggered when the availability under the ABL Revolver falls below a threshold set forth in the ABL Credit Agreement.

As of December 31, 2025, the Company's Fixed Charge Coverage Ratio was 2.12 to 1.00.

Promissory Note:

On November 1, 2024, in connection with an acquisition, the Company signed a promissory note for the loan amount of $1.0 million. The promissory note has a maturity date of November 1, 2029. The promissory note shall be payable in four equal consecutive annual installments of $0.1 million on November 1 of each year commencing on November 1, 2025, provided that all amounts outstanding under this promissory note, including all accrued and unpaid interest and other amounts payable under the promissory note, shall be due and payable in full on November 1, 2029. The Company may prepay the promissory note in whole or in part at any time or from time to time without penalty or premium by paying the principal amount to be prepaid together with accrued interest thereon to the date of the prepayment. Interest is payable quarterly, starting with the quarter ending January 31, 2025 on outstanding borrowings at a rate of 5%.

Maturities of Debt

As of December 31, 2025, the maturities of long-term debt for the next five years were as follows (in thousands):
Amount
2026$8,580 
20278,580 
20288,580 
20299,080 
2030811,965 
Total$846,785 
v3.25.4
INCOME TAXES
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The components of income before income taxes are as follows (in thousands):
 Years Ended December 31,
 202520242023
Domestic$110,687 $77,309 $79,785 
Foreign8,535 7,663 7,146 
Total income before taxes$119,222 $84,972 $86,931 
The provision for income taxes consisted of the following (in thousands):
 Years Ended December 31,
 202520242023
Current -   
Federal$(3,254)$22,066 $22,514 
State4,783 5,217 2,620 
Foreign2,194 2,190 2,044 
Total current3,723 29,473 27,178 
Deferred -   
Federal26,306 (13,597)(7,679)
State516 (1,347)(1,133)
Foreign— (46)(247)
Total deferred26,822 (14,990)(9,059)
Total current and deferred taxes$30,545 $14,483 $18,119 

The following table shows the principal reasons for the difference between the effective income tax rate and the statutory federal income tax rate:
Years Ended December 31,
202520242023
Amount Percent Amount Percent Amount Percent
U.S. Federal Statutory Tax Rates $25,034 21.0 %$17,844 21.0 %$18,392 21.2 %
State and local income tax, net of federal (national) income tax effect(1)
4,206 3.5 %3,057 3.6 %1,620 1.9 %
Foreign tax effects
Canada330 0.3 %433 0.5 %280 0.3 %
Mexico 38 — %14 — %17 — %
Other Foreign Jurisdictions 55 — %80 0.1 %— — %
Effect of changes in tax laws or rates enacted in the current period— — %— — %— — %
Effect of cross-border tax laws— — %— — %— — %
Tax credits
Research Tax Credit 1,339 1.1 %(7,333)(8.6)%(4,718)(5.4)%
Foreign Tax Credit — — %— — %— — %
Other Tax Credits(62)(0.1)%(118)(0.1)%(19)— %
Changes in valuation allowances— — %— — %— — %
Nontaxable or nondeductible items
 162(m) compensation 2,583 2.2 %1,281 1.5 %513 0.6 %
Other nondeductible items 1,992 1.7 %(460)(0.5)%847 1.0 %
Restricted Stock (275)(0.2)%(2,056)(2.4)%(3)— %
Earnout — — %— — %1,225 1.4 %
Changes in unrecognized tax benefits.(1,336)(1.1)%1,732 2.0 %(33)(0.2)%
Other Adjustments (3,359)(2.8)%9 (0.1)%(2)— %
Effective Tax Rate $30,545 25.6 %$14,483 17.0 %$18,119 20.8 %
(1). State taxes in California, Pennsylvania, and Tennessee made up the majority (greater than 50 percent) of the tax effects in this category.
Deferred tax liabilities and assets were comprised of the following (in thousands):
December 31,
 20252024
Deferred tax assets: 
Allowance for doubtful accounts$868 $954 
Inventory5,449 3,585 
Federal R&D credit carryforward1,953 — 
Texas R&D credit carryforward2,283 2,232 
Louisiana R&D credit carryforward10 10 
Foreign Tax Credit Carryforward203 64 
Charitable Contribution Carryforward1,225 — 
Net operating loss carryforward15,224 1,258 
Capital loss carryforward4 4 
Deferred Compensation490 2,304 
Accruals10,910 9,814 
Business Interest Expense Carryforward962 — 
ROU Lease Liability 17,389 304 
Section 174 Addback— 40,650 
Total deferred tax assets59,672 63,483 
Less valuation allowance(221)(221)
Total deferred tax asset, net of valuation allowance59,451 63,262 
Deferred tax liabilities:
Goodwill(26,252)(24,847)
Intangibles(6,322)(7,902)
Property and equipment(17,933)(10,204)
ROU Asset(17,007)— 
Unremitted foreign earnings(421)(421)
Method changes(1,088)(393)
Other(802)(243)
Total deferred tax liability$(69,825)$(44,010)
Net deferred tax (liability) asset
$(10,374)$19,252 

The Company records a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets depends on the ability to generate sufficient taxable income of the appropriate character in the future and in the appropriate taxing jurisdictions. If the Company was to determine that it would be able to realize the deferred tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the valuation allowance, which would reduce the provision for income taxes. As of December 31, 2025, the valuation allowance primarily relates to state operating loss and foreign capital loss carryforwards.

The following summarizes changes in the balance of valuation allowances on deferred tax assets (in thousands):

December 31,
  202520242023
Balance at January 1$(221)$(278)$(4)
Changes due to state operating loss and foreign capital loss carryforwards
— 57 (274)
Balance at December 31$(221)$(221)$(278)
Expected tax benefit on carryforwards available for use on future income tax returns, prior to valuation allowance, at December 31, 2025, are as follows (in thousands):

  Domestic  ForeignExpiration
Net operating loss - foreign$— $543 2034-2045
Net operating loss - federal (80%)
13,116 — Indefinite
Net operating loss - state
1,566 — 2035-Indefinite
Capital loss carryforward - foreign— 4 Indefinite
Foreign tax credits203 — 2035
Texas research and development tax credits2,283 — 2038-2045
Louisiana research and development tax credits10 — 2026

Changes in the balance of unrecognized tax benefits excluding interest and penalties on uncertain tax positions are as follows (in thousands):

December 31,
  202520242023
Balance at January 1,$(8,702)$(5,755)$(5,918)
   Decreases related to prior year tax positions2,088 142 1,475 
   Increases related to current year tax positions(8)(3,089)(1,312)
Balance at December 31,$(6,622)$(8,702)$(5,755)

As of December 31, 2025, the Company had recorded a total tax benefit of $34.9 million related to federal and state research and development tax credits. This benefit is partially offset by $6.1 million uncertain tax position due to the uncertainty related to the realizability of the federal research and development tax credits. The Company is also recording a $0.5 million uncertain tax position resulting from a method change for a historical acquisition and non-deductible auto expense compensation. The total amount of these unrecognized tax benefits, if recognized, would impact the effective tax rate.

To the extent penalties and interest would be assessed on any underpayment of income tax, such accrued amounts are classified as a component of income tax provision (benefit) in the consolidated financial statements consistent with the Company's policy. For the year ended December 31, 2025, the Company recorded $0.3 million tax expense for interest and penalties related to uncertain tax positions.

The Company is subject to taxation in the U.S., various states, and foreign jurisdictions. The Company has significant operations in the U.S. and Canada and to a lesser extent in various other international jurisdictions. Tax years that remain subject to examination vary by legal entity but are generally closed in the U.S. for the tax years prior to 2015 and outside the U.S. for the tax years ended prior to 2019. There is a 4-year statute of limitations for Canadian returns based on the date tax assessment is received, not filing date. Tax assessments are typically received within weeks of filing date.

Income taxes paid net of refunds are as follows (in thousands):

Years Ended December 31,
202520242023
Federal$29,620 $11,958 $15,289 
State
     California (1)
567 1,309 21 
     Other States3,784 3,838 3,379 
Foreign
     Canada2,174 1,318 1,617 
     Other Foreign Jurisdictions254 258 257 
Total Income Taxes Paid (net of refunds)$36,399 $18,681 $20,563 
'(1) For 2025 and 2023, California did not exceed the 5% threshold; however, the total has been separately stated for comparability.
v3.25.4
SHARE-BASED COMPENSATION
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION
2016 Omnibus Incentive Plan

On June 16, 2023, our shareholders approved an amendment to the DXP Enterprises, Inc. 2016 Omnibus Incentive Plan (the “2016 Plan”) to increase the number of shares that can be issued under the 2016 Plan from 1,000,000 shares to a total of 1,250,000 shares, which represents an increase of 250,000 shares (the “Amendment”), which authorized grants of restricted stock awards, restricted stock units, performance awards, options, investment rights, and cash-based awards.

Restricted Stock Awards

The Company grants restricted stock awards (“RSAs”) to employees and non-employee directors. RSAs qualify as participating securities as each award contains non-forfeitable rights to dividends. RSAs are considered outstanding at the date of grant. Refer to Note. 12 Earnings Per Share for further detail.

RSAs are subject to vesting periods between one to ten years. Compensation expense for RSAs is calculated based on the closing price of the Company’s common stock at the date of grant and recognized over the requisite vesting period on a straight-line basis. Unvested RSAs may be forfeited if employees or non-employee directors cease employment or services during the requisite vesting period. Forfeitures reduce expense at the time employment or service cease at the original grant date value. The Company issues new shares of common stock, if available, to settle vested RSAs. At December 31, 2025, 316,163 shares were available for grant.

Changes in RSAs for the twelve months ended December 31, 2025 are as follows:
 Number of
Shares		Weighted Average
Grant Price
Non-vested at December 31, 2024302,400 $38.11 
Granted57,275 $89.87 
Forfeited(2,478)$40.34 
Vested(151,486)$35.73 
Non-vested at December 31, 2025205,711 $54.25 
Changes in RSAs for the twelve months ended December 31, 2024 are as follows:
 Number of
Shares		Weighted Average
Grant Price
Non-vested at December 31, 2023304,437 $27.60 
Granted127,860 $52.89 
Forfeited(9,644)$26.96 
Vested(120,253)$28.13 
Non-vested at December 31, 2024302,400 $38.11 
Changes in RSAs for the twelve months ended December 31, 2023 are as follows:
 Number of
Shares		Weighted Average
Grant Price
Non-vested at December 31, 2022157,767 $28.64 
Granted215,554 $27.36 
Forfeited— $— 
Vested(68,884)$29.23 
Non-vested at December 31, 2023304,437 $27.60 
The following table sets forth information regarding the vesting and distribution of RSAs for the periods indicated (in thousands):

  December 31,
  20252024
2023
Aggregate grant-date fair value of vested shares
$5,412 $3,382 $2,013 
Tax benefits realized for tax deductions related to vestings
1,462 803 756 
Compensation expense associated with RSAs recognized during the period
5,708 4,714 3,072 

Unrecognized compensation expense under the 2016 Plan at December 31, 2025, December 31, 2024 and December 31, 2023 was $6.9 million, $7.7 million and $5.9 million, respectively. As of December 31, 2025, the weighted average period over which the unrecognized compensation expense is expected to be recognized is 1.2 years.
v3.25.4
EARNINGS PER SHARE DATA
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE DATA EARNINGS PER SHARE DATA
Basic earnings per share is computed based on weighted average shares outstanding and excludes dilutive securities. Diluted earnings per share is computed including the impacts of all potentially dilutive securities.

The following table sets forth the computation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data):
  December 31,
 202520242023
Basic earnings per share:   
Weighted average shares outstanding15,667 15,861 16,870 
 
Net income attributable to DXP Enterprises, Inc.
$88,677 $70,489 $68,812 
Series B convertible preferred stock dividend
(90)(90)(90)
Net income attributable to common shareholders
88,587 70,399 68,722 
Per share amount$5.65 $4.44 $4.07 
 
Diluted earnings per share:
Weighted average shares outstanding15,667 15,861 16,870 
Assumed conversion of convertible preferred stock840 840 840 
Total dilutive shares16,507 16,701 17,710 
Net income attributable to common shareholders
$88,587 $70,399 $68,722 
Series B convertible preferred stock dividend
90 90 90 
Net income attributable to DXP Enterprises, Inc.
88,677 70,489 68,812 
Per share amount$5.37 $4.22 $3.89 
Basic earnings per share have been computed by dividing net income (loss) attributable to common shareholders by the weighted average number of common shares outstanding during the period and excludes dilutive securities. Diluted earnings per share reflects the potential dilution that could occur if the preferred stock was converted into common stock.

Restricted stock is considered a participating security and is included in the computation of basic earnings per share as if vested. For the years ended December 31, 2025, 2024, and 2023, the weighted average of the unvested RSAs were 232.1 thousand, 302.8 thousand, and 270.2 thousand shares, respectively. The preferred stock is convertible into 840,000 shares of common stock.
v3.25.4
CAPITAL STOCK
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
CAPITAL STOCK CAPITAL STOCK
The Company has Series A and Series B preferred stock of 1,222 shares and 15,000 shares issued and outstanding as of December 31, 2025, 2024 and 2023, respectively. The preferred stock did not have any activity during 2025, 2024 and 2023.

Series A Preferred Stock

The holders of Series A preferred stock are entitled to one-tenth of a vote per share on all matters presented to a vote of shareholders generally, voting as a class with the holders of common stock, and are not entitled to any dividends or distributions other than in the event of a liquidation of the Company, in which case the holders of the Series A preferred stock are entitled to $100 liquidation preference per share.

Series B Convertible Preferred Stock

Each share of the Series B convertible preferred stock is convertible into 56 shares of common stock and a monthly dividend per share of $0.50. The holders of the Series B convertible stock are entitled to a $100 liquidation preference per share after payment of the distributions to the holders of the Series A preferred stock and to one-tenth of a vote per share on all matters presented to a vote of shareholders generally, voting as a class with the holders of the common stock.

Common Stock

The activity related to outstanding common stock was as follows (in thousands):

 December 31,
 202520242023
Common Stock:
Balance, beginning of period15,695 16,177 17,690 
Issuance of shares for compensation net of withholding98 86 47 
Restricted shares
(97)(2)147 
Purchase of shares held in treasury(182)(566)(1,707)
Balance, end of period15,514 15,695 16,177 
SHARE REPURCHASE
On December 15, 2022, the Company announced a new Share Repurchase Program pursuant to which we may repurchase up to $85.0 million worth, or 2.8 million shares of the Company's outstanding common stock over the next 24 months. The Company completed the program in August 2024.

On August 28, 2024, the Company announced a new Share Repurchase Program pursuant to which we may repurchase up to
$85.0 million worth, or 2.5 million shares of the Company's outstanding common stock over the next 24 months.

The following table represents total number of shares purchased, the amount paid, and the average price paid per share under share repurchase programs authorized by our Board of Directors:

 Twelve Months Ended December 31,
 202520242023
(in millions, except per share data)
Total number of shares purchased0.2 0.6 1.7 
Amount paid$17.0 $28.8 $54.7 
Average price paid per share$93.23 $50.87 $32.06 
v3.25.4
SHARE REPURCHASE
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
SHARE REPURCHASE CAPITAL STOCK
The Company has Series A and Series B preferred stock of 1,222 shares and 15,000 shares issued and outstanding as of December 31, 2025, 2024 and 2023, respectively. The preferred stock did not have any activity during 2025, 2024 and 2023.

Series A Preferred Stock

The holders of Series A preferred stock are entitled to one-tenth of a vote per share on all matters presented to a vote of shareholders generally, voting as a class with the holders of common stock, and are not entitled to any dividends or distributions other than in the event of a liquidation of the Company, in which case the holders of the Series A preferred stock are entitled to $100 liquidation preference per share.

Series B Convertible Preferred Stock

Each share of the Series B convertible preferred stock is convertible into 56 shares of common stock and a monthly dividend per share of $0.50. The holders of the Series B convertible stock are entitled to a $100 liquidation preference per share after payment of the distributions to the holders of the Series A preferred stock and to one-tenth of a vote per share on all matters presented to a vote of shareholders generally, voting as a class with the holders of the common stock.

Common Stock

The activity related to outstanding common stock was as follows (in thousands):

 December 31,
 202520242023
Common Stock:
Balance, beginning of period15,695 16,177 17,690 
Issuance of shares for compensation net of withholding98 86 47 
Restricted shares
(97)(2)147 
Purchase of shares held in treasury(182)(566)(1,707)
Balance, end of period15,514 15,695 16,177 
SHARE REPURCHASE
On December 15, 2022, the Company announced a new Share Repurchase Program pursuant to which we may repurchase up to $85.0 million worth, or 2.8 million shares of the Company's outstanding common stock over the next 24 months. The Company completed the program in August 2024.

On August 28, 2024, the Company announced a new Share Repurchase Program pursuant to which we may repurchase up to
$85.0 million worth, or 2.5 million shares of the Company's outstanding common stock over the next 24 months.

The following table represents total number of shares purchased, the amount paid, and the average price paid per share under share repurchase programs authorized by our Board of Directors:

 Twelve Months Ended December 31,
 202520242023
(in millions, except per share data)
Total number of shares purchased0.2 0.6 1.7 
Amount paid$17.0 $28.8 $54.7 
Average price paid per share$93.23 $50.87 $32.06 
v3.25.4
SUPPLEMENTAL CASH FLOW INFORMATION
 12 Months Ended
Dec. 31, 2025
Supplemental Cash Flow Information [Abstract]  
SUPPLEMENTAL CASH FLOW INFORMATION SUPPLEMENTAL CASH FLOW INFORMATION
 Twelve Months Ended December 31,
 202520242023
Supplemental disclosures of cash flow information:
Cash paid for interest(1)
$53,698 $67,005 $48,954 
Cash paid for income taxes
$36,399 $20,433 $21,839 
Proceeds from issuance of Senior Secured Term Loan B, net of deferred financing costs
$202,077 $102,716 $113,108 
Non-cash investing and financing activities:
Issuance of Promissory Note (Note 9)
$— $1,000 $— 
Treasury shares excise tax accruals
$(115)$(225)$(519)
(1) FY 2024 includes $9.3 million of interest associated with 2023 paid in 2024.
v3.25.4
BUSINESS ACQUISITIONS
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
BUSINESS ACQUISITIONS BUSINESS ACQUISITIONS
The Company continually evaluates potential acquisitions that either strategically fit with the Company’s existing portfolio or expand the Company’s portfolio into new and attractive markets. The Company has completed a number of acquisitions and the purchases of the acquired businesses have resulted in the recognition of goodwill and other intangible assets in the Company’s Consolidated Financial Statements.

The Company makes an initial allocation of the purchase price at the date of acquisition based upon its estimate of the fair value of the acquired assets and assumed liabilities. The Company obtains the information used for the purchase price allocation during due diligence and through other sources. The Company will reflect measurement period adjustments, if any, in the period in which the adjustments are recognized. Final determination of the fair values may result in further adjustments.

The fair values of acquired intangibles are determined based on estimates and assumptions that are deemed reasonable by the Company. The Company from time-to-time engages third-party valuation specialists who review the Company’s critical assumptions and calculations of the fair value of acquired intangible assets in connection with significant acquisitions. Only facts and circumstances that existed as of the acquisition date are considered for subsequent adjustment. The Company is continuing to evaluate certain pre-acquisition contingencies associated with certain of its 2025 acquisitions. The Company will make appropriate adjustments to the purchase price allocation prior to completion of the measurement period, as required.

Each acquisition has been accounted for as a business combination under ASC 805, “Business Combinations”.

2025 Acquisitions

During the first quarter of 2025, the Company acquired one business for a total of $13.0 million. We acquired this business to expand our platforms and to maintain our leading position as the largest distributor of rotating equipment in North America.

During the second quarter of 2025, the Company acquired one business for a total of $1.0 million. We acquired this business to expand our geographic coverage and to maintain our leading position as the largest distributor of rotating equipment in North America.

During the third quarter of 2025, the Company acquired one business for a total of $11.6 million. We acquired this business to expand our end markets and enhance a geographic region in order to maintain our leading position as the largest distributor of rotating equipment in North America.

During the fourth quarter of 2025, the Company acquired three businesses for a total of $53.6 million. We acquired these three businesses to expand our water & wastewater end-market and our product categories.

The results for the six businesses acquired during the year have been included in our Consolidated Financial Statements beginning on the respective dates of acquisition.
Purchase Price Allocation and Consideration

In aggregate, the acquisition-date fair value of the consideration transferred for the six businesses acquired in 2025 totaled $79.2 million. The six acquisitions contributed $42.7 million in Sales and $4.4 million in Net income attributable to common shareholders for the year ended December 31, 2025. The following table summarizes the total consideration, the estimated fair values of the assets acquired and liabilities assumed at the acquisition date for the 2025 acquisitions:

Q1 2025Q2 2025Q3 2025Q4 2025Total
Total Acquisitions
11136
Cash payments
$12,981 $1,027 $10,916 $49,459 $74,383 
Contingent consideration
— — 683 4,130 4,813 
Total purchase price consideration
12,981 1,027 11,599 53,589 79,196 
Tangible assets acquired
8,160 927 5,219 26,949 41,255 
Intangible assets acquired
3,284 203 2,305 11,550 17,342 
Total assets acquired
11,444 1,130 7,524 38,499 58,597 
Total liabilities assumed(4,983)(508)(1,179)(12,485)(19,155)
Net assets acquired6,461 622 6,345 26,014 39,442 
Goodwill$6,520 $405 $5,254 $27,575 $39,754 

The total cash and cash equivalents acquired for these six acquisitions was $12.7 million. Transaction-related costs included within selling, general, and administrative expenses in the consolidated statements of operations was $1.8 million for the twelve months ended December 31, 2025.

The goodwill total of approximately $39.8 million is attributable primarily to expected synergies and the assembled workforce of each entity of which $33.1 million is deductible for tax purposes and $6.7 million is not deductible for tax purposes. Goodwill assigned to our SC and IPS segments as a result of these transactions was $12.2 million and $27.6 million, respectively.

Of the $17.3 million of acquired intangible assets, $0.9 million was provisionally assigned to non-compete agreements that are subject to amortization over 5 years and $16.4 million was assigned to customer relationships and will be amortized over a period of 8 years.

Contingent Consideration

The acquisitions included contingent consideration arrangements that requires additional consideration to be paid based on the achievement of annual EBITDA targets over a one-to-three year period. The range of undiscounted amounts the Company may be required to pay under the contingent consideration agreement is between zero and $5.6 million. The combined fair value of the contingent consideration recognized on each acquisition date of $4.8 million was estimated by using a weighted probability of possible payments. That measure is based on significant Level 3 inputs not observable in the market. The significant assumption includes a discount rate of 8.3%. Changes in the fair value measurement each period reflect the passage of time as well as the impact of adjustments, if any, to the likelihood of achieving the specified targets. The changes in the fair value of the contingent consideration are measured during each reporting period and reflected in our results of operations. The fair value measurement includes earnings forecasts, which are a Level 3 measurement as discussed in Note 5 - Fair Value of Financial Assets and Liabilities. The fair value of the contingent consideration is reviewed quarterly over the earn-out period to compare actual earnings before interest, taxes, depreciation and amortization (“EBITDA”) achieved to the estimated EBITDA used in our forecasts.
Pro Forma Results of Operations (unaudited)

The following unaudited supplemental pro forma results of operations for the Company which incorporate the acquisitions completed in 2025, 2024 and 2023, have been provided for illustrative purposes only and may not be indicative of the actual results that would have been achieved by the combined companies for the periods presented or that may be achieved by the combined companies in the future (in thousands).

  Years Ended December 31,
(in thousands)
202520242023
Sales$2,092,146 $1,961,097 $1,794,749 
Net income attributable to common shareholders$98,094 $93,786 $82,738 

The pro forma combined results of operations for the years ended December 31, 2025, 2024, and 2023 were prepared by adjusting the historical results of the Company to include the historical results of the businesses acquired in each year as if the business combinations that occurred during each year had occurred as of the beginning of the comparable prior annual reporting period.

2024 Acquisitions

During the first quarter of 2024, the Company acquired three businesses for a total of $46.8 million. We acquired these three businesses to expand our water & wastewater end-market, enhance our aftermarket and service capabilities, as well as expand into new geographic territories.

During the second quarter of 2024, the Company acquired a pump and rotating equipment distribution company for $81.5 million. We acquired this business as part of our growth strategy and to maintain our leading position as the largest distributor of rotating equipment in North America.

During the third quarter of 2024, the Company acquired a rotating equipment distribution company for $36.8 million. We acquired this business to expand our water & wastewater end market.

During the fourth quarter of 2024, the Company acquired two businesses for a total of $9.8 million. We acquired these two businesses to expand our water & wastewater end-market and our product categories.

In aggregate, the acquisition-date fair value of the consideration transferred for the seven businesses acquired in 2024 totaled $174.9 million. The seven acquisitions contributed $91.3 million in Sales and $19.1 million in Net income attributable to common shareholders for the year ended December 31, 2024. The following table summarizes the total consideration, the estimated fair values of the assets acquired and liabilities assumed at the acquisition date for the 2024 acquisitions:

Q1 2024Q2 2024Q3 2024Q4 2024Total
Total Acquisitions
31127
Cash payments
$40,661 $81,538 $31,564 $8,201 $161,964 
Promissory Note due 11/1/2029— — — 1,000 1,000 
Contingent consideration
6,132 — 5,197 626 11,955 
Total purchase price consideration
46,793 81,538 36,761 9,827 174,919 
Tangible assets acquired
18,632 4,485 9,026 4,630 36,773 
Intangible assets acquired
8,155 23,400 8,246 1,820 41,621 
Total assets acquired
26,787 27,885 17,272 6,450 78,394 
Total liabilities assumed(8,605)(2,652)(1,205)(745)(13,207)
Net assets acquired18,182 25,233 16,067 5,705 65,187 
Goodwill$28,611 $56,305 $20,694 $4,122 $109,732 
2023 Acquisitions

During the second quarter of 2023, the Company acquired two businesses for a total of $11.7 million. We acquired these two businesses to expand our water & wastewater end-market by expanding into new geographic territories, enhance our product capabilities, and attract and retain talent.

During the fourth quarter of 2023, the Company acquired a leading municipal and industrial pump sales, service, and repair business for $1.7 million. We acquired this company to enhance our end-markets as well as expand into additional geographic territories.

In aggregate, the acquisition-date fair value of the consideration transferred for the three businesses acquired in 2023 totaled $13.4 million. The three acquisitions contributed $7.6 million in Sales and $0.8 million in Net income attributable to common shareholders for the year ended December 31, 2023. The following table summarizes the total consideration, the estimated fair values of the assets acquired and liabilities assumed at the acquisition date for the 2023 acquisitions:

Q1 2023
Q2 2023
Q3 2023
Q4 2023
Total
Total Acquisitions
— 2— 13
Cash payments
$— $9,235 $— $1,502 $10,737 
Contingent consideration
— 2,498 — 184 2,682 
Total purchase price consideration
— 11,733 — 1,686 13,419 
Tangible assets acquired
— 3,379 — 146 3,525 
Intangible assets acquired
— 2,142 — 385 2,527 
Total assets acquired
— 5,521 — 531 6,052 
Total liabilities assumed— (2,260)— (141)(2,401)
Net assets acquired— 3,261 — 390 3,651 
Goodwill$— $8,472 $— $1,296 $9,768 
v3.25.4
COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
From time to time, the Company is a party to various legal proceedings arising in the ordinary course of business. While the Company is unable to predict the outcome or estimate the financial impact of these disputes, it believes that the ultimate resolution will not have, either individually or in the aggregate, a material adverse effect on its consolidated financial position, cash flows, or results of operations.
v3.25.4
OTHER INCOME AND EXPENSE, NET
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
OTHER INCOME AND EXPENSE, NET OTHER INCOME AND EXPENSE, NET
The components of other (income) expense, net were as follows:
  Years Ended December 31,
(in thousands)
202520242023
Interest income
$(3,579)$(4,766)$(2,680)
Change in fair value of contingent consideration
1,406 745 1,738 
Other, net
(709)504 (413)
Other income
$(2,882)$(3,517)$(1,355)
v3.25.4
REVENUE
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE CONTRACT ASSETS AND LIABILITIES
Under our customized pump production contracts, amounts are billed as work progresses in accordance with agreed-upon contractual terms, upon various measures of performance, including achievement of certain milestones, completion of specified units, or completion of a contract. Generally, billing occurs subsequent to revenue recognition, resulting in contract assets presented as “Cost and estimated profits in excess of billings” on our Consolidated Balance Sheets. However, we sometimes receive advances or deposits from our customers before revenue is recognized, resulting in contract liabilities that are presented as “Billings in excess of costs and estimated profits” on our Consolidated Balance Sheets.

Costs and estimated profits on uncompleted contracts and related amounts billed were as follows (in thousands):
 December 31,
 202520242023
Costs incurred on uncompleted contracts$147,866 $122,951 $92,363 
Estimated profits, thereon71,260 58,373 37,379 
Total costs and estimated profits on uncompleted contracts
219,126 181,324 129,742 
Less: billings to date180,960 143,251 96,925 
Total
$38,166 $38,073 $32,817 

Such amounts were included in the accompanying Consolidated Balance Sheets for 2025 and 2024 under the following captions (in thousands):
 December 31,
 202520242023
Costs and estimated profits in excess of billings $53,855 $50,735 $42,323 
Billings in excess of costs and estimated profits(15,689)(12,662)(9,506)
Net contract assets
$38,166 $38,073 $32,817 
During the twelve months ended December 31, 2025, 2024 and 2023, $10.4 million, $7.4 million, and $10.4 million of the balances that were previously classified as contract liabilities at the beginning of the period were recognized into revenues, respectively.
REVENUE
The Company disaggregates revenue based upon our geography and our reportable segments - Service Centers, Innovative Pumping Solutions and Supply Chain Services. Each of our geographic and reportable business segments are impacted and influenced by varying factors, including the macroeconomic environment, maintenance and capital spending and commodity prices and exploration and production activity. As such, we believe this information is important in depicting the nature, timing and uncertainty of our contracts with customers. The following Geographical Information and Note 20 - Segment Reporting present our revenue disaggregated by source.

Geographical Information
Revenues are presented in geographic area based on location of the facility shipping products or providing services.

The Company’s revenues by geographical location are as follows (in millions):
  Years Ended December 31,
 202520242023
United States$1,939 $1,721 $1,602 
Canada75 79 75 
Other
2 2 2 
Total$2,016 $1,802 $1,679 
Recent Acquisitions

We define and calculate organic sales to include locations and acquisitions under our ownership for at least twelve months. "Acquisition Sales" are sales from acquisitions that have been under our ownership for less than twelve months and are excluded in our calculation of Organic Sales.
The following tables sets forth the disaggregation of revenue from sales associated with recent acquisitions for the twelve months ended December 31, 2025 and 2024 (in thousands):


SalesAcquisition SalesOrganic Sales
Twelve Months Ended December 31, 2025
Service Centers$1,373,140 $56,164 $1,316,976 
Innovative Pumping Solutions390,291 39,879 350,412 
Supply Chain Services252,934 — 252,934 
Total Sales$2,016,365 $96,043 $1,920,322 
Twelve Months Ended December 31, 2024
Service Centers (1)
$1,236,775 $36,944 $1,199,831 
Innovative Pumping Solutions (1)
308,850 61,556 247,294 
Supply Chain Services256,415 — 256,415 
Total Sales$1,802,040 $98,500 $1,703,540 
$ Change
Service Centers$136,365 $19,220 $117,145 
Innovative Pumping Solutions81,441 (21,677)103,118 
Supply Chain Services(3,481)— (3,481)
Total $ Change$214,325 $(2,457)$216,782 
% Change
Service Centers11.0 %52.0 %9.8 %
Innovative Pumping Solutions26.4 %(35.2)%41.7 %
Supply Chain Services(1.4)%N/A(1.4)%
Total % Change11.9 %(2.5)%12.7 %
(1) Prior period segment disclosures have been recast. For additional information, please refer to Note 20. Segment Reporting.
The following tables sets forth the disaggregation of revenue from sales associated with recent acquisitions for the twelve months ended December 31, 2024 and 2023 (in thousands):


SalesAcquisition SalesOrganic Sales
Twelve Months Ended December 31, 2024
Service Centers (1)
$1,236,775 $36,944 $1,199,831 
Innovative Pumping Solutions (1)
308,850 61,556 247,294 
Supply Chain Services256,415 — 256,415 
Total Sales$1,802,040 $98,500 $1,703,540 
Twelve Months Ended December 31, 2023
Service Centers (1)
$1,214,602 $19,275 $1,195,327 
Innovative Pumping Solutions (1)
203,630 13,803 189,827 
Supply Chain Services260,368 — 260,368 
Total Sales$1,678,600 $33,078 $1,645,522 
$ Change
Service Centers$22,173 $17,669 $4,504 
Innovative Pumping Solutions105,220 47,753 57,467 
Supply Chain Services(3,953)— (3,953)
Total $ Change$123,440 $65,422 $58,018 
% Change
Service Centers1.8 %91.7 %0.4 %
Innovative Pumping Solutions51.7 %346.0 %30.3 %
Supply Chain Services(1.5)%N/A(1.5)%
Total % Change7.4 %197.8 %3.5 %
(1) Prior period segment disclosures have been recast. For additional information, please refer to Note 20. Segment Reporting.
v3.25.4
SEGMENT REPORTING
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
We have three reportable and operating segments: Service Centers, Innovative Pumping Solutions and Supply Chain Services.

The Service Centers segment is engaged in providing MRO products and equipment, including logistics capabilities, to industrial customers. The Service Centers segment provides a wide range of MRO products in the rotating equipment, bearing, power transmission, hose, fluid power, metal working, fastener, industrial supply, safety products and safety services categories.

The Innovative Pumping Solutions segment fabricates and assembles custom-made pump packages, re-manufactures pumps, manufactures branded private label pumps, and provides products and services for the water and wastewater treatment industries.

The Supply Chain Services segment provides a wide range of MRO products and manages all or part of a customer's supply chain, including warehouse and inventory management.

No customer accounts for 10% or more of our revenues. Sales are shown net of intersegment eliminations.

Corporate primarily includes unallocated overhead costs that are not directly associated with our reportable segments.
Segment information is prepared on the same basis that our Chief Executive Officer, who is our chief operating decision maker (“CODM”), manages the segments, evaluates financial results, and makes key operating decisions.

These segments were determined primarily by the distribution channels of the products and services offered and the nature of the customer markets and the primary driver of the customers’ spending. The Company's CODM directs the allocation of resources to these segments based upon historical and current revenue, direct operating expenses, operating income, and capital expenditures of each respective segment. The allocation of resources across these segments is dependent upon, among other factors, the segments' historical or future expected operating margins; the segments' historical or future expected returns on capital; outlook within a specific market; opportunities to grow profitability; new products, services or new customer accounts; confidence in management; and competitive landscape and intensity.

As a part of the Company's annual business planning, the CODM reviews our reportable segment composition and financial performance. As a result of this review, on January 1st, 2025, we moved certain branch locations previously reported under our IPS segment to our SC segment. Historical financial information by segment has been retroactively recast to reflect the results of this review.

The following table sets out financial information related to the Company’s segments (in thousands):

Years Ended December 31,Service CentersInnovative Pumping SolutionsSupply Chain ServicesTotalCorporateTotal
2025    
Sales$1,373,140 $390,291 $252,934 $2,016,365 $— $2,016,365 
Operating expenses1,165,844 316,119 230,796 1,712,759 — 1,712,759 
Other expenses
Depreciation3,865 3,019 32 6,916 3,456 10,372 
Amortization of finance lease assets
5,265 930 187 6,382 426 6,808 
Other(1)
— — — — 109,556 109,556 
Income (loss) from operations
$198,166 $70,223 $21,919 $290,308 $(113,438)$176,870 
Interest expense— — — — 60,530 60,530 
Other income, net— — — — (2,882)(2,882)
Income (loss) before income taxes$198,166 $70,223 $21,919 $290,308 $(171,086)$119,222 
Capital expenditures$4,509 $3,580 $— $8,089 $32,197 $40,286 
(1). Other primarily includes selling, general and administrative expenses of $87.9 million and amortization of intangible assets of $21.7 million.

 
Years Ended December 31,Service CentersInnovative Pumping SolutionsSupply Chain ServicesTotalCorporateTotal
2024    
Sales$1,236,775 $308,850 $256,415 $1,802,040 $— $1,802,040 
Operating expenses1,051,316 253,927 234,508 1,539,751 — 1,539,751 
Other expenses
Depreciation3,125 3,352 32 6,509 2,510 9,019 
Amortization of finance lease assets
2,812 508 133 3,453 1,106 4,559 
Other(1)
— — — — 103,329 103,329 
Income (loss) from operations
$179,522 $51,063 $21,742 $252,327 $(106,945)$145,382 
Interest expense— — — — 63,927 63,927 
Other income, net— — — — (3,517)(3,517)
Income (loss) before income taxes$179,522 $51,063 $21,742 $252,327 $(167,355)$84,972 
Capital expenditures$4,144 $2,593 $13 $6,750 $18,318 $25,068 
(1). Other primarily includes selling, general and administrative expenses of $83.5 million and amortization of intangible assets of $19.8 million.
Years Ended December 31,Service CentersInnovative Pumping SolutionsSupply Chain ServicesTotalCorporateTotal
2023    
Sales$1,214,602 $203,630 $260,368 $1,678,600 $— $1,678,600 
Operating expenses1,032,264 167,333 238,774 1,438,371 — 1,438,371 
Other expenses
Depreciation2,729 3,687 27 6,443 1,980 8,423 
Amortization of finance lease assets
3,026 214 45 3,285 166 3,451 
Other(1)
— — — — 89,633 89,633 
Income (loss) from operations
$176,583 $32,396 $21,522 $230,501 $(91,779)$138,722 
Interest expense— — — — 53,146 53,146 
Other income, net— — — $— (1,355)$(1,355)
Income (loss) before income taxes$176,583 $32,396 $21,522 $230,501 $(143,570)$86,931 
Capital expenditures$6,277 $1,965 $— $8,242 $4,021 $12,263 
(1). Other primarily includes selling, general and administrative expenses of $71.4 million and amortization of intangible assets of $18.2 million.

Years Ended December 31,
 20252024
Service Centers$820,289 $744,966 
Innovative Pumping Solutions383,201 307,818 
Supply Chain Services
95,045 85,823 
Total Reportable Segments Assets
$1,298,535 $1,138,607 
Corporate 386,620 210,887 
Total Assets$1,685,155 $1,349,494 
v3.25.4
RELATED PARTIES DISCLOSURES
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
RELATED PARTIES DISCLOSURES RELATED PARTIES DISCLOSURES
The Board uses policies and procedures, to be applied by the Audit Committee of the Board, for review, approval or ratification of any transactions with related persons. Those policies and procedures will apply to any proposed transactions in which the Company is a participant, the amount involved exceeds $120,000 and any director, executive officer or significant shareholder or any immediate family member of such a person has a direct or material indirect interest. Any related party transaction will be reviewed by the Audit Committee of the Board of Directors to determine, among other things, the benefits of any transaction to the Company, the availability of other sources of comparable products or services and whether the terms of the proposed transaction are comparable to those provided to unrelated third parties.

The Company incurred approximately $2.3 million, $1.9 million, and $1.8 million in lease expenses to entities controlled by the Company’s Chief Executive Officer and family for the years ended December 31, 2025, 2024 and 2023, respectively.
v3.25.4
SUBSEQUENT EVENTS
 12 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
On January 1, 2026, the Company completed the acquisition of PREMIERflow, LLC. The acquisition was funded with cash on the balance sheet.

On January 1, 2026, the Company completed the acquisition of Mid Atlantic Storage Systems Inc. The acquisition was funded with cash on the balance sheet.

On February 1, 2026, the Company completed the acquisition of Ambiente H2O Inc. The acquisition was funded with cash on the balance sheet.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We have processes in place to identify, assess and manage material risks from cybersecurity threats. These processes are part of our overall enterprise risk management process and have been embedded in our internal controls and information systems.

Our cybersecurity and information security framework includes risk assessment and mitigation through a threat intelligence-driven approach, application controls, and enhanced security with ransomware defense. The framework leverages the National Institute of Standards and Technology Cyber Security Framework (“NIST CSF”) for measuring overall readiness to respond to cyber threats, and Sarbanes-Oxley for assessment of internal controls.

We contract with external firms to assess our cyber security controls relative to our peers using the NIST CSF. We also have a third-party risk management program that assesses risks from vendors and suppliers. In addition, we maintain a Business Continuity and Disaster Recovery Plan as well as a cybersecurity insurance policy.

We have established cybersecurity and information security awareness training programs. Formal training on topics relating to our cybersecurity, data privacy and information security policies and procedures is mandatory at least annually for all employees, contractors and third parties with access to our network. Training is administered and tracked through online learning modules. Training topics include how to escalate suspicious activities including phishing, viruses, spams, insider threats, suspect human behaviors or safety issues. Based on role and location, some employees receive additional in-depth training to provide more comprehensive knowledge on potential risks related to their individual job responsibilities. Training is supplemented through regular company-wide communications with frequent updates to educate on the latest adversary trends and social engineering techniques.
Additionally, we engage in cyber crisis response simulations to assess our ability to adapt to information and operational technology threats. Improper or illegitimate use of our information system resources or violation of our information security policies and procedures is subject to disciplinary action. Our security posture is supported by a comprehensive defense-in-depth strategy that relies on layers of technology including Multi-Factor Authentication to ensure that access to information and communication is vetted and secure.

We also utilize internal and external audits and assessments, vulnerability testing, governance processes over outsourced service providers, active risk management and benchmarking against peers in the industry to validate our security posture. We also engage external firms to measure our NIST CSF maturity level.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
We have processes in place to identify, assess and manage material risks from cybersecurity threats. These processes are part of our overall enterprise risk management process and have been embedded in our internal controls and information systems.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Governance

Our board of directors established a standing Cybersecurity Committee, which is tasked with oversight of the Cybersecurity Program, including: (i) strategy and governance; (ii) operations; and (iii) risk management and regulatory compliance.

The Cybersecurity Committee responsibilities include:

•reviewing our enterprise cybersecurity strategy and framework, including our assessment of cybersecurity threats and risk, data security programs, and our management and mitigation of cybersecurity and information technology risks and potential breach incidents;
•reviewing any significant cybersecurity incident that has occurred, reports to or from regulators with respect thereto, and steps that have been taken to mitigate against reoccurrence;
•evaluating the effectiveness of our cyber risk management and data security programs measured against our cybersecurity threat landscape;
•assessing the effectiveness of our data breach incident response plan;
•reviewing and assessing our information technology disaster recovery capabilities; and
•reviewing our assessment of cybersecurity threats and risks associated with our supply chain and actions we are taking to address such threats and risks.

The Cybersecurity Committee receives reports and updates at committee meetings from our Chief Information Officer (“CIO”) and other executives and cybersecurity specialists. Following each committee meeting, the chair of the Cybersecurity Committee briefs the full board of directors on matters covered at the prior Cybersecurity Committee meeting. The board also receives periodic briefings on emerging trends in order to enhance its literacy on cybersecurity issues. At least annually, the Cybersecurity Committee receives updates about the results of the Cybersecurity Program reviews.

The Cybersecurity Committee participates with management periodically in “tabletop” exercises to evaluate our data breach incident response plan.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
Our board of directors established a standing Cybersecurity Committee, which is tasked with oversight of the Cybersecurity Program, including: (i) strategy and governance; (ii) operations; and (iii) risk management and regulatory compliance.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Cybersecurity Committee responsibilities include:

•reviewing our enterprise cybersecurity strategy and framework, including our assessment of cybersecurity threats and risk, data security programs, and our management and mitigation of cybersecurity and information technology risks and potential breach incidents;
•reviewing any significant cybersecurity incident that has occurred, reports to or from regulators with respect thereto, and steps that have been taken to mitigate against reoccurrence;
•evaluating the effectiveness of our cyber risk management and data security programs measured against our cybersecurity threat landscape;
•assessing the effectiveness of our data breach incident response plan;
•reviewing and assessing our information technology disaster recovery capabilities; and
•reviewing our assessment of cybersecurity threats and risks associated with our supply chain and actions we are taking to address such threats and risks.
Cybersecurity Risk Role of Management [Text Block]
Our Cybersecurity and Information Technology organization is led by our CIO, who is responsible for cybersecurity risk management. Our CIO has more than 28 years of experience in the IT industry. Since 2006, he has held multiple roles at the Company and most recently as Vice President of IT Strategic Solutions.

Our cybersecurity incident response framework is governed by a corporate Cybersecurity Incident Response Plan (the “IRP”), which sets out our approach for categorizing, responding to, and mitigating cybersecurity incidents. The IRP provides definitions of key terms, stakeholder roles and responsibilities, and a response governance and escalation process.

We have an incident response team comprised of our CIO, executive leaders, management, and internal and external legal counsel, whose primary responsibilities include:
•evaluating and validating the impact of an incident;
•approving certain incident response countermeasures and remediation actions;
•escalating incidents and response countermeasures for approval; and
•acting in an advisory capacity in support of cybersecurity incident remediation, as appropriate.

We maintain a Business Continuity and Disaster Recovery Plan that addresses our preparation for, management, recovery from, and ultimate resumption of business after a crisis, including emergency response, continued recovery, and business resumption activities such as information systems recovery, when a cybersecurity incident may potentially have a significant impact on our business strategy, results of operations, or financial condition.

As of the date of this report, we are not aware of any cybersecurity threats that have materially affected or are reasonably likely to materially affect us, including our business strategy, results of operations, or financial condition. However, as discussed under “Item 1A. Risk Factors,” specifically the risks titled “Cybersecurity breaches and other disruptions or misuse of our
network and information systems could affect our ability to conduct our business effectively.”, the sophistication of cyber threats continues to increase, and the preventative actions we take to reduce the risk of cyber incidents and protect our systems and information may be insufficient. Accordingly, no matter how well our controls are designed or implemented, we will not be able to anticipate all security breaches, and we may not be able to implement effective preventive measures against such security breaches in a timely manner.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The Cybersecurity Committee receives reports and updates at committee meetings from our Chief Information Officer (“CIO”) and other executives and cybersecurity specialists.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]
Our Cybersecurity and Information Technology organization is led by our CIO, who is responsible for cybersecurity risk management. Our CIO has more than 28 years of experience in the IT industry. Since 2006, he has held multiple roles at the Company and most recently as Vice President of IT Strategic Solutions.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
Our Cybersecurity and Information Technology organization is led by our CIO, who is responsible for cybersecurity risk management. Our CIO has more than 28 years of experience in the IT industry. Since 2006, he has held multiple roles at the Company and most recently as Vice President of IT Strategic Solutions.

Our cybersecurity incident response framework is governed by a corporate Cybersecurity Incident Response Plan (the “IRP”), which sets out our approach for categorizing, responding to, and mitigating cybersecurity incidents. The IRP provides definitions of key terms, stakeholder roles and responsibilities, and a response governance and escalation process.

We have an incident response team comprised of our CIO, executive leaders, management, and internal and external legal counsel, whose primary responsibilities include:
•evaluating and validating the impact of an incident;
•approving certain incident response countermeasures and remediation actions;
•escalating incidents and response countermeasures for approval; and
•acting in an advisory capacity in support of cybersecurity incident remediation, as appropriate.
We maintain a Business Continuity and Disaster Recovery Plan that addresses our preparation for, management, recovery from, and ultimate resumption of business after a crisis, including emergency response, continued recovery, and business resumption activities such as information systems recovery, when a cybersecurity incident may potentially have a significant impact on our business strategy, results of operations, or financial condition
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] false
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES (Policies)
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation
The Company’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). The accompanying consolidated financial statements include the accounts of the Company, and its wholly owned subsidiaries.
Consolidation All intercompany accounts and transactions have been eliminated in consolidation.
Reclassifications
Reclassifications
Certain reclassifications were made to the prior year’s consolidated financial statements to conform to the current year presentation. Such reclassifications did not have a material effect on our consolidated statements of operations and comprehensive income, balance sheets, cash flows or equity.
Business Combinations
Business Combinations
We allocate the total purchase price of a business combination to the assets acquired and the liabilities assumed based on their estimated fair values at the acquisition date, with the excess purchase price recorded as goodwill. For material acquisitions, we engage third-party valuation specialists to assist us in determining the fair value of the assets acquired and liabilities assumed, including goodwill, based on recognized business valuation methodologies. If the initial accounting for the business combination is incomplete by the end of the reporting period in which the acquisition occurs, an estimate will be recorded. Subsequent to the acquisition, and not later than one year from the acquisition date, we will record any material adjustments to the initial estimate in the reporting period in which the adjustment amounts are determined based on facts and circumstances that existed as of the acquisition date, as applicable. Generally, we use an income valuation method to estimate the fair value of the assets acquired or liabilities assumed in a business combination. However, a market or cost valuation method may be utilized.

We expense acquisition-related costs as incurred in connection with each business combination.
Foreign Currency
Foreign Currency
The financial statements of the Company’s foreign subsidiaries are measured using local currencies as their functional currencies. Assets and liabilities are translated into U.S. dollars at current exchange rates, while income and expenses are translated at average exchange rates. Translation gains and losses are reported in other comprehensive income (loss). Gains and losses on transactions denominated in foreign currency are reported in the consolidated statements of operations and comprehensive income (loss).
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions in determining the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates.
Cash
Cash
The Company places its cash with institutions with high credit quality. However, at certain times, such cash may be in excess of Federal Deposit Insurance Corporation (“FDIC”) insurance limits. The Company has not historically experienced any losses when in excess of these limits.
Receivables and Credit Risk
Receivables and Credit Risk
Trade receivables consist primarily of uncollateralized customer obligations due under normal trade terms, which usually require payment within 30 days of the invoice date. However, these payment terms are extended in select cases and customers may not pay within stated trade terms.

The Company has trade receivables from a diversified customer base located primarily in the Rocky Mountain, Northeastern, Midwestern, Southeastern and Southwestern regions of the U.S. and Canada. The Company believes no significant concentration of credit risk exists. The Company evaluates the creditworthiness of its customers' financial positions and monitors accounts on a regular basis. Provisions to the allowance for doubtful accounts are made monthly and adjustments are made periodically based upon management’s best estimate of the collectability of such accounts under the current expected credit losses model. The Company writes off uncollectible trade accounts receivable when the accounts are determined to be uncollectible. No customer represents more than 10% of consolidated sales.
Inventories
Inventories
Inventories are comprised of equipment purchased for resale, and materials utilized in the fabrication of industrial and wastewater equipment stated at lower of cost and net realizable value, primarily determined using the weighted average cost method. The Company regularly reviews inventory and records provisions for the difference between cost and net realizable value arising from excess and obsolete items on hand based upon the aging of the inventories, market trends, and continued demand.
Property and Equipment
Property and Equipment
Property and equipment are recorded on a historical cost basis. Depreciation of property and equipment is computed using the straight-line method over their estimated useful lives. Maintenance and repairs of depreciable assets are charged against earnings as incurred. When properties are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and gains or losses are credited or charged to earnings.

The principal estimated useful lives used in determining depreciation are as follows:

Buildings
20-39 years
Building improvements
10-20 years
Furniture, fixtures and equipment
3-20 years
Leasehold improvementsShorter of estimated useful life or related lease term
Impairment of Goodwill and Other Intangible Assets
Impairment of Goodwill and Other Intangible Assets
The Company tests goodwill for impairment on an annual basis on October 1st and when events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company assigns the carrying value of goodwill to its reporting units and applies the test for goodwill at the reporting unit level. A reporting unit is defined as an operating segment or one level below a segment (a “component”) if the component is a business and discrete information is prepared and reviewed regularly by segment management.
The Company’s goodwill impairment assessment first permits evaluating qualitative factors to determine if a reporting unit's carrying value would more likely than not exceed its fair value. If the Company concludes, based on the qualitative assessment, that a reporting unit's carrying value would more likely than not exceed its fair value, the Company would perform a quantitative test for that reporting unit. Should the reporting unit's carrying amount exceed the fair value, then an impairment charge for the excess would be recognized. The impairment charge is limited to the amount of goodwill allocated to the reporting unit and goodwill will not be reduced below zero.
Impairment of Long-Lived Assets, Excluding Goodwill
Impairment of Long-Lived Assets, Excluding Goodwill
The Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value.
Revenue Recognition
Revenue Recognition
The Company primarily provides purchased products distributed through its local Service Centers and provides services through its local branch network and recognizes revenue at a point in time when control of the product or service performed transfers to the customer, typically upon shipment or completion from a DXP facility or directly from a supplier or completion of the service. Revenue is measured at the amount of consideration expected to be received in exchange for the products and services provided, net of allowances for product returns, and any taxes collected from customers that will be remitted to governmental authorities. The Service Centers segment primarily provides a wide range of maintenance, repair and operating (MRO) products, equipment and integrated services, including logistics capabilities, to industrial customers. The Supply Chain Services segment also provides a wide range of MRO products as well as manages all or part of various customers' supply chain, including warehouse and inventory management services. Revenue is recognized upon the completion of our performance obligation(s) under the sales agreement. The majority of the Service Centers and Supply Chain Services segment revenues originate from the satisfaction of a single performance obligation--the delivery of products. Revenues are recognized when an agreement is in place, the performance obligations under the contract have been satisfied, and the price or consideration to be received is fixed and allocated to the performance obligation(s) in the contract. We believe our performance obligation has been satisfied when title passes to the customer or services have been rendered under the contract. Revenues are recorded net of sales taxes. The Company reserves for potential customer returns based upon historical levels.
The Company also assembles, kits, and fabricates custom-made pump packages, remanufactures pumps, and manufactures branded private label pumps substantially within our Innovative Pumping Solutions segment. For binding agreements to assemble, fabricate and direct tangible assets to customer specifications, the Company recognizes revenues over time when the customer is able to direct the use of and obtain substantially all of the benefits of the work performed. This occurs when the products have no alternative use for us and we have a right to payment for the work completed to date plus a reasonable profit margin. Contracts include cancellation provisions that require the customer to reimburse us for costs incurred through the date of cancellation. We recognize revenue for these contracts using the percentage of completion method, an “input method” as defined by ASC 606, “Revenue from Contracts with Customers”. Under this method, we recognize sales and profit based upon the cost-to-cost method, in which sales and profit are recorded based upon the ratio of costs incurred to estimated total costs to complete the asset. The percentage-of-completion method of accounting requires the Company to estimate the project costs at completion. Revenues are estimated based upon the original contract price and change orders. Contract costs may be incurred over a period of several months, and the estimation of these costs requires judgment based upon the acquired knowledge and experience of program managers, engineers, and finance professionals. Estimated costs are based primarily on purchase contract terms and estimated cost of materials, labor productivity and cost, and overhead.
Shipping and Handling Costs
Shipping and Handling Costs
The Company classifies shipping and handling charges billed to customers as sales. Shipping and handling charges paid to others are classified as a component of cost of sales.
Cost of Sales and Selling, General and Administrative Expense
Cost of Sales and Selling, General and Administrative Expense
Cost of sales includes product and product-related costs, inbound freight charges, internal transfer costs, and depreciation. Selling, general and administrative expenses include purchasing and receiving costs, inspection costs, warehousing costs, depreciation, and amortization.
Income Taxes
Income Taxes
The Company utilizes the asset and liability method of accounting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and income tax bases of assets and liabilities. Such deferred income tax asset and liability computations are based on enacted tax laws and rates applicable to periods in which the differences are expected to reverse. Valuation allowances are established to reduce deferred income tax assets to the amounts expected to be realized under a more likely than not criterion.
Accounting for Uncertainty in Income Taxes
Accounting for Uncertainty in Income Taxes
A position taken or expected to be taken in a tax return is recognized in the financial statements when it is more likely than not (i.e. a likelihood of more than fifty percent) that the position would be sustained upon examination by tax authorities. A recognized tax position is then measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states. With few exceptions, the Company is no longer subject to U.S. federal, state and local tax examination by tax authorities for years prior to 2015. The Company believes that it has appropriate support for the income tax positions taken and to be taken on its tax returns and that its accruals for tax liabilities are adequate for all open years based on an assessment of many factors including past experience and interpretations of tax law applied to the facts of each matter.
Comprehensive Income
Comprehensive Income
Comprehensive income includes net income and foreign currency translation adjustments. The Company’s other comprehensive income is from translating balances at foreign subsidiaries to the reporting currency.
Recently Adopted Accounting Pronouncements and Accounting Pronouncements Not Yet Adopted
Recently Adopted Accounting Pronouncements

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis; however, a retrospective basis is permitted for annual periods beginning after December 15, 2024. Early adoption of this standard is permitted. The Company adopted this accounting standard update using a retrospective approach effective December 31, 2025, and included the required income tax disclosures in our notes to the financial statements. This ASU resulted in required additional disclosures with no impact to our consolidated financial statements. See further discussion at Note 10 - Income Taxes.

Accounting Pronouncements Not Yet Adopted

In November 2024, the FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses (Subtopic 220-40). The ASU requires the disaggregated disclosure of specific expense categories, including purchases of inventory, employee compensation, depreciation, and amortization, within relevant income statement captions. This ASU also requires disclosure of the total amount of selling expenses along with the definition of selling expenses. The ASU is effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Adoption of this ASU can either be applied prospectively to consolidated financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the consolidated financial statements. Early adoption is also permitted. This ASU will likely result in the required additional disclosures being included in our consolidated financial statements, once adopted. We are currently evaluating the provisions of this ASU.
Leases LEASES
We lease office space, warehouses, land, automobiles, buildings, and manufacturing equipment. Some of our leases include one or more renewal options to extend the lease term, which can be exercised at our sole discretion. Our lease agreements may include options to purchase the leased property. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Additionally, we do not have any material lessor or sub-leasing arrangements.
Fair Value of Financial Assets and Liabilities FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
Authoritative guidance for financial assets and liabilities measured on a recurring basis applies to all financial assets and financial liabilities that are being measured and reported on a fair value basis. Fair value, as defined in the authoritative guidance, is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The authoritative guidance affects the fair value measurement of an investment with quoted market prices in an active market for identical instruments, which must be classified in one of the following categories:

Level 1 Inputs

Level 1 inputs come from quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 Inputs

Level 2 inputs are other than quoted prices that are observable for an asset or liability. These inputs include: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from, or corroborated by, observable market data by correlation or other means.

Level 3 Inputs

Level 3 inputs are unobservable inputs for the asset or liability which require the Company's own assumptions. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels.

Our acquisitions may include contingent consideration as part of the purchase price. The fair value of the contingent consideration is estimated as of the acquisition date based on the present value of the contingent payments to be made using a weighted probability of possible payments. The unobservable inputs used in the determination of the fair value of the contingent consideration include management's assumptions about the likelihood of payment based on the established benchmarks and discount rates based on an internal rate of return analysis. The fair value measurement includes inputs that are Level 3 inputs as discussed above, as they are not observable in the market. Should actual results increase or decrease as compared to the assumptions used in our analysis, the fair value of the contingent consideration obligations will increase or decrease, up to the contracted limit, as applicable. Changes in the fair value of the contingent consideration are measured during each reporting period and reflected in our results of operations.
Segments and Geographical Reporting SEGMENT REPORTING
We have three reportable and operating segments: Service Centers, Innovative Pumping Solutions and Supply Chain Services.

The Service Centers segment is engaged in providing MRO products and equipment, including logistics capabilities, to industrial customers. The Service Centers segment provides a wide range of MRO products in the rotating equipment, bearing, power transmission, hose, fluid power, metal working, fastener, industrial supply, safety products and safety services categories.

The Innovative Pumping Solutions segment fabricates and assembles custom-made pump packages, re-manufactures pumps, manufactures branded private label pumps, and provides products and services for the water and wastewater treatment industries.

The Supply Chain Services segment provides a wide range of MRO products and manages all or part of a customer's supply chain, including warehouse and inventory management.

No customer accounts for 10% or more of our revenues. Sales are shown net of intersegment eliminations.

Corporate primarily includes unallocated overhead costs that are not directly associated with our reportable segments.
Segment information is prepared on the same basis that our Chief Executive Officer, who is our chief operating decision maker (“CODM”), manages the segments, evaluates financial results, and makes key operating decisions.

These segments were determined primarily by the distribution channels of the products and services offered and the nature of the customer markets and the primary driver of the customers’ spending. The Company's CODM directs the allocation of resources to these segments based upon historical and current revenue, direct operating expenses, operating income, and capital expenditures of each respective segment. The allocation of resources across these segments is dependent upon, among other factors, the segments' historical or future expected operating margins; the segments' historical or future expected returns on capital; outlook within a specific market; opportunities to grow profitability; new products, services or new customer accounts; confidence in management; and competitive landscape and intensity.

As a part of the Company's annual business planning, the CODM reviews our reportable segment composition and financial performance. As a result of this review, on January 1st, 2025, we moved certain branch locations previously reported under our IPS segment to our SC segment. Historical financial information by segment has been retroactively recast to reflect the results of this review.
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES (Tables)
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Changes in Allowance
Changes in this allowance for 2025 and 2024 are as follows (in thousands):

 20252024
Beginning balance, January 1
$5,172 $5,584 
Charges to (recoveries of) expense
220 (887)
Foreign currency translation
(73)(42)
Write-offs and other
(1,324)517 
Ending balance, December 31
$3,995  $5,172 
Schedule of Carrying Values of Inventories
The carrying values of inventories are as follows (in thousands):

December 31,
 20252024
Finished goods$98,089 $89,780 
Work in process10,055 13,333 
Inventories$108,144 $103,113 
Schedule of Principal Estimated Useful Lives of Property and Equipment
The principal estimated useful lives used in determining depreciation are as follows:

Buildings
20-39 years
Building improvements
10-20 years
Furniture, fixtures and equipment
3-20 years
Leasehold improvementsShorter of estimated useful life or related lease term
v3.25.4
LEASES (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Lease Expenses, Supplemental Cash Flow and Balance Sheet Information and Lease Term and Discount Rate
The following table presents components of lease cost (in thousands):

 
Twelve Months Ended December 31,
 202520242023
Operating lease costs
$23,059 $21,210 $21,575 
Finance lease costs:
Amortization of assets
6,808 4,559 3,451 
Interest on lease liabilities
1,467 1,108 595 
Total finance lease costs
8,275 5,667 4,046 
Total operating and finance lease costs$31,334 $26,877 $25,621 
The following table presents cash paid for leases, assets exchanged for operating and finance leases, and weighted average remaining lease terms, and discount rates:

December 31,
20252024
Cash paid for operating leases
$22,658 $20,886 
Cash paid for finance leases
$6,592 $4,216 
Assets obtained in exchange for operating lease obligations, initial recognition
$23,499 $4,551 
Assets obtained in exchange for finance lease obligations
$10,965 $8,441 
Weighted-average remaining lease term - operating leases
4.8 years
3.9 years
Weighted-average remaining lease term - finance leases
3.0 years3.2 years
Weighted average discount rate - operating leases
8.3%8.1%
Weighted-average discount rate - finance leases
7.5%8.5%
Schedule of Supplemental Balance Sheet Information
The following table presents the consolidated balance sheet location of assets and liabilities related to operating and finance leases (in thousands):
December 31,
Balance Sheet Location
20252024
Operating
Operating lease right of use assets, net
$74,709 $46,569 
Finance
Property and equipment, net
20,106 15,829 
Total lease assets
$94,815 $62,398 
Current operating
Short-term operating lease liabilities19,038 14,921 
Non-current operating
Long-term operating lease liabilities57,509 33,159 
Current finance
Other current liabilities
7,660 5,321 
Non-current finance
Other long-term liabilities
13,223 11,055 
Total lease liabilities$97,430 $64,456 
Schedule of Maturity of Operating Lease Liabilities
As of December 31, 2025 maturities of lease liabilities are as follows (in thousands):

Finance
Operating
2026$8,894 $24,481 
20277,246 20,671 
20284,839 15,565 
20292,014 12,112 
2030149 9,502 
Thereafter— 10,569 
Total future lease payments
23,142 92,900 
Less: imputed interest2,259 16,353 
Total lease liability balance
$20,883 $76,547 
Schedule of Maturity of Finance Lease Liabilities
As of December 31, 2025 maturities of lease liabilities are as follows (in thousands):

Finance
Operating
2026$8,894 $24,481 
20277,246 20,671 
20284,839 15,565 
20292,014 12,112 
2030149 9,502 
Thereafter— 10,569 
Total future lease payments
23,142 92,900 
Less: imputed interest2,259 16,353 
Total lease liability balance
$20,883 $76,547 
v3.25.4
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Reconciliation of the Beginning and Ending Balance and Gains or Losses Recognized
For the Company's assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), the following table provides a reconciliation of the beginning and ending balances for each category therein and gains or losses recognized during the last three fiscal years (in thousands):

 Contingent Consideration
Balance at December 31, 2022$10,166 
Acquisitions and settlements:
     Acquisitions2,682 
     Settlements
(5,833)
Total remeasurement adjustments:
     Changes in fair value recorded in other (income) expense, net
1,738 
Balance at December 31, 20238,753 
Acquisitions and settlements:
     Acquisitions
11,932 
     Settlements
(5,108)
Total remeasurement adjustments:
     Changes in fair value recorded in other (income) expense, net
745 
Balance at December 31, 2024(1)
16,322 
Acquisitions and settlements:
     Acquisitions (Note 16)
4,813 
     Settlements(8,766)
Total remeasurement adjustments:
     Changes in fair value recorded in other (income) expense, net1,406 
Balance at December 31, 2025(1)
$13,775 
(1) Amounts included in other current liabilities were $9.4 million and $8.0 million for the periods ending December 31, 2025 and December 31, 2024, respectively. Amounts included in other long-term liabilities were $4.4 million and $8.3 million for the periods ending December 31, 2025 and December 31, 2024, respectively.
Schedule of Quantitative Information About Level 3 Fair Value Measurements
The significant unobservable inputs used in the fair value measurement of the Company's contingent consideration liabilities designated as Level 3 are as follows:

Fair Value at December 31, 2025Valuation TechniqueSignificant Unobservable Inputs
$13,775 Discounted cash flowAnnualized EBITDA and probability of achievement
v3.25.4
CONTRACT ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2025
Contractors [Abstract]  
Schedule of Costs and Estimated Earnings on Uncompleted Contracts Included in Condensed Consolidated Balance Sheets
Costs and estimated profits on uncompleted contracts and related amounts billed were as follows (in thousands):
 December 31,
 202520242023
Costs incurred on uncompleted contracts$147,866 $122,951 $92,363 
Estimated profits, thereon71,260 58,373 37,379 
Total costs and estimated profits on uncompleted contracts
219,126 181,324 129,742 
Less: billings to date180,960 143,251 96,925 
Total
$38,166 $38,073 $32,817 

Such amounts were included in the accompanying Consolidated Balance Sheets for 2025 and 2024 under the following captions (in thousands):
 December 31,
 202520242023
Costs and estimated profits in excess of billings $53,855 $50,735 $42,323 
Billings in excess of costs and estimated profits(15,689)(12,662)(9,506)
Net contract assets
$38,166 $38,073 $32,817 
v3.25.4
PROPERTY AND EQUIPMENT, NET (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment
The carrying values of property and equipment, net are as follows (in thousands):

December 31,
 20252024
Land$1,704 $1,704 
Buildings and leasehold improvements37,667 32,652 
Furniture, fixtures and equipment177,046 137,058 
Finance lease right of use assets
34,577 23,612 
Less – Accumulated depreciation and amortization
(136,172)(113,470)
Property and equipment, net
$114,822 $81,556 
v3.25.4
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill and Other Intangible Assets
The following table presents the changes in the carrying amount of goodwill and other intangible assets during the year ended December 31, 2025 (in thousands):
 Goodwill
Other
Intangible
Assets, Net
Total
Balances as of December 31, 2024$452,343 $85,679 $538,022 
Translation adjustment870 — 870 
Acquisitions 41,348 17,342 58,690 
Amortization— (21,670)(21,670)
Balances as of December 31, 2025$494,561 $81,351 $575,912 

The following table presents the changes in the carrying amount of goodwill and other intangible assets during the year ended December 31, 2024 (in thousands):
 Goodwill
Other
Intangible
Assets, Net
Total
Balances as of December 31, 2023$343,991 $63,895 $407,886 
Translation adjustment(1,380)(10)(1,390)
Acquisitions109,732 41,621 151,353 
Amortization— (19,827)(19,827)
Balances as of December 31, 2024$452,343 $85,679 $538,022 
Schedule of Goodwill Balance by Reportable Segment
The following table presents the goodwill balance by reportable segment as of December 31, 2025 and 2024 (in thousands):
December 31,
 20252024
Service Centers$349,860 $335,611 
Innovative Pumping Solutions127,562 99,593 
Supply Chain Services17,139 17,139 
Total$494,561 $452,343 
Schedule of Future Amortization Expense of Other Intangible Assets The estimated future annual amortization of intangible assets for each of the next five years and thereafter are as follows (in thousands):
Amount
2026$20,724 
202718,708 
202816,412 
20299,107 
20306,582 
Thereafter9,818 
Total$81,351 
v3.25.4
LONG-TERM DEBT (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Long-term debt consisted of the following (in thousands):
December 31,
 20252024
ABL Revolver$— $— 
Senior Secured Term Loan B due October 13, 2030(1)
845,885 647,876 
Promissory Note due November 1, 2029
900 1,000 
Total debt
846,785 648,876 
Less: current maturities
(8,580)(6,595)
Total long-term debt
838,205 642,281 
Unamortized discount and debt issuance costs
19,729 20,597 
Long-term debt, net of unamortized discount and debt issuance costs
$818,476 $621,684 
(1) The fair value of the Amended Term Loan B due October 13, 2030 using level 2 input values was $854.3 million and $657.6 million as of December 31, 2025 and December 31, 2024, respectively.
Schedule of Secured Leverage Ratio
The Company’s primary financial covenant under the Term Loan B is a Secured Leverage Ratio, The Term Loan B Agreement requires that the Company’s Secured Leverage Ratio, defined as the ratio, as of the last day of any fiscal quarter of consolidated secured debt (net of unrestricted cash, not to exceed $330 million) as of such day to EBITDA, beginning with the fiscal quarter ending December 31, 2025, is either equal to or less than as indicated in the table below:

Fiscal QuarterSecured Leverage Ratio
December 31, 2025
5.75:1.00
March 31, 2026
5.75:1.00
June 30, 2026
5.50:1.00
September 30, 2026
5.50:1.00
December 31, 2026
5.50:1.00
March 31, 2027
5.25:1.00
June 30, 2027
5.25:1.00
September 30, 2027
5.25:1.00
December 31, 2027
5.00:1.00
March 31, 2028
5.00:1.00
June 30, 2028 and thereafter
4.75:1.00
Schedule of Maturities of Long-term Debt
As of December 31, 2025, the maturities of long-term debt for the next five years were as follows (in thousands):
Amount
2026$8,580 
20278,580 
20288,580 
20299,080 
2030811,965 
Total$846,785 
v3.25.4
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income (Loss) Before Income Taxes
The components of income before income taxes are as follows (in thousands):
 Years Ended December 31,
 202520242023
Domestic$110,687 $77,309 $79,785 
Foreign8,535 7,663 7,146 
Total income before taxes$119,222 $84,972 $86,931 
Schedule of Provision for Income Taxes
The provision for income taxes consisted of the following (in thousands):
 Years Ended December 31,
 202520242023
Current -   
Federal$(3,254)$22,066 $22,514 
State4,783 5,217 2,620 
Foreign2,194 2,190 2,044 
Total current3,723 29,473 27,178 
Deferred -   
Federal26,306 (13,597)(7,679)
State516 (1,347)(1,133)
Foreign— (46)(247)
Total deferred26,822 (14,990)(9,059)
Total current and deferred taxes$30,545 $14,483 $18,119 
Schedule of Effective Income Tax and Effective Income Tax Rate
The following table shows the principal reasons for the difference between the effective income tax rate and the statutory federal income tax rate:
Years Ended December 31,
202520242023
Amount Percent Amount Percent Amount Percent
U.S. Federal Statutory Tax Rates $25,034 21.0 %$17,844 21.0 %$18,392 21.2 %
State and local income tax, net of federal (national) income tax effect(1)
4,206 3.5 %3,057 3.6 %1,620 1.9 %
Foreign tax effects
Canada330 0.3 %433 0.5 %280 0.3 %
Mexico 38 — %14 — %17 — %
Other Foreign Jurisdictions 55 — %80 0.1 %— — %
Effect of changes in tax laws or rates enacted in the current period— — %— — %— — %
Effect of cross-border tax laws— — %— — %— — %
Tax credits
Research Tax Credit 1,339 1.1 %(7,333)(8.6)%(4,718)(5.4)%
Foreign Tax Credit — — %— — %— — %
Other Tax Credits(62)(0.1)%(118)(0.1)%(19)— %
Changes in valuation allowances— — %— — %— — %
Nontaxable or nondeductible items
 162(m) compensation 2,583 2.2 %1,281 1.5 %513 0.6 %
Other nondeductible items 1,992 1.7 %(460)(0.5)%847 1.0 %
Restricted Stock (275)(0.2)%(2,056)(2.4)%(3)— %
Earnout — — %— — %1,225 1.4 %
Changes in unrecognized tax benefits.(1,336)(1.1)%1,732 2.0 %(33)(0.2)%
Other Adjustments (3,359)(2.8)%9 (0.1)%(2)— %
Effective Tax Rate $30,545 25.6 %$14,483 17.0 %$18,119 20.8 %
(1). State taxes in California, Pennsylvania, and Tennessee made up the majority (greater than 50 percent) of the tax effects in this category.
Schedule of Deferred Tax Liabilities and Assets
Deferred tax liabilities and assets were comprised of the following (in thousands):
December 31,
 20252024
Deferred tax assets: 
Allowance for doubtful accounts$868 $954 
Inventory5,449 3,585 
Federal R&D credit carryforward1,953 — 
Texas R&D credit carryforward2,283 2,232 
Louisiana R&D credit carryforward10 10 
Foreign Tax Credit Carryforward203 64 
Charitable Contribution Carryforward1,225 — 
Net operating loss carryforward15,224 1,258 
Capital loss carryforward4 4 
Deferred Compensation490 2,304 
Accruals10,910 9,814 
Business Interest Expense Carryforward962 — 
ROU Lease Liability 17,389 304 
Section 174 Addback— 40,650 
Total deferred tax assets59,672 63,483 
Less valuation allowance(221)(221)
Total deferred tax asset, net of valuation allowance59,451 63,262 
Deferred tax liabilities:
Goodwill(26,252)(24,847)
Intangibles(6,322)(7,902)
Property and equipment(17,933)(10,204)
ROU Asset(17,007)— 
Unremitted foreign earnings(421)(421)
Method changes(1,088)(393)
Other(802)(243)
Total deferred tax liability$(69,825)$(44,010)
Net deferred tax (liability) asset
$(10,374)$19,252 
Schedule of Changes in Valuation Allowance for Deferred Tax Assets
The following summarizes changes in the balance of valuation allowances on deferred tax assets (in thousands):

December 31,
  202520242023
Balance at January 1$(221)$(278)$(4)
Changes due to state operating loss and foreign capital loss carryforwards
— 57 (274)
Balance at December 31$(221)$(221)$(278)
Schedule of Tax Carryforwards
Expected tax benefit on carryforwards available for use on future income tax returns, prior to valuation allowance, at December 31, 2025, are as follows (in thousands):

  Domestic  ForeignExpiration
Net operating loss - foreign$— $543 2034-2045
Net operating loss - federal (80%)
13,116 — Indefinite
Net operating loss - state
1,566 — 2035-Indefinite
Capital loss carryforward - foreign— 4 Indefinite
Foreign tax credits203 — 2035
Texas research and development tax credits2,283 — 2038-2045
Louisiana research and development tax credits10 — 2026
Schedule of Changes in Unrecognized Tax Benefits
Changes in the balance of unrecognized tax benefits excluding interest and penalties on uncertain tax positions are as follows (in thousands):

December 31,
  202520242023
Balance at January 1,$(8,702)$(5,755)$(5,918)
   Decreases related to prior year tax positions2,088 142 1,475 
   Increases related to current year tax positions(8)(3,089)(1,312)
Balance at December 31,$(6,622)$(8,702)$(5,755)
Supplemental Disclosures of Cash Flow Information
Income taxes paid net of refunds are as follows (in thousands):

Years Ended December 31,
202520242023
Federal$29,620 $11,958 $15,289 
State
     California (1)
567 1,309 21 
     Other States3,784 3,838 3,379 
Foreign
     Canada2,174 1,318 1,617 
     Other Foreign Jurisdictions254 258 257 
Total Income Taxes Paid (net of refunds)$36,399 $18,681 $20,563 
'(1) For 2025 and 2023, California did not exceed the 5% threshold; however, the total has been separately stated for comparability.
 Twelve Months Ended December 31,
 202520242023
Supplemental disclosures of cash flow information:
Cash paid for interest(1)
$53,698 $67,005 $48,954 
Cash paid for income taxes
$36,399 $20,433 $21,839 
Proceeds from issuance of Senior Secured Term Loan B, net of deferred financing costs
$202,077 $102,716 $113,108 
Non-cash investing and financing activities:
Issuance of Promissory Note (Note 9)
$— $1,000 $— 
Treasury shares excise tax accruals
$(115)$(225)$(519)
(1) FY 2024 includes $9.3 million of interest associated with 2023 paid in 2024.
v3.25.4
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Changes in Restricted Stock
Changes in RSAs for the twelve months ended December 31, 2025 are as follows:
 Number of
Shares		Weighted Average
Grant Price
Non-vested at December 31, 2024302,400 $38.11 
Granted57,275 $89.87 
Forfeited(2,478)$40.34 
Vested(151,486)$35.73 
Non-vested at December 31, 2025205,711 $54.25 
Changes in RSAs for the twelve months ended December 31, 2024 are as follows:
 Number of
Shares		Weighted Average
Grant Price
Non-vested at December 31, 2023304,437 $27.60 
Granted127,860 $52.89 
Forfeited(9,644)$26.96 
Vested(120,253)$28.13 
Non-vested at December 31, 2024302,400 $38.11 
Changes in RSAs for the twelve months ended December 31, 2023 are as follows:
 Number of
Shares		Weighted Average
Grant Price
Non-vested at December 31, 2022157,767 $28.64 
Granted215,554 $27.36 
Forfeited— $— 
Vested(68,884)$29.23 
Non-vested at December 31, 2023304,437 $27.60 
Summary of Information Regarding the Vesting and Distribution of RSAs
The following table sets forth information regarding the vesting and distribution of RSAs for the periods indicated (in thousands):

  December 31,
  20252024
2023
Aggregate grant-date fair value of vested shares
$5,412 $3,382 $2,013 
Tax benefits realized for tax deductions related to vestings
1,462 803 756 
Compensation expense associated with RSAs recognized during the period
5,708 4,714 3,072 
v3.25.4
EARNINGS PER SHARE DATA (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Earnings per Share
The following table sets forth the computation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data):
  December 31,
 202520242023
Basic earnings per share:   
Weighted average shares outstanding15,667 15,861 16,870 
 
Net income attributable to DXP Enterprises, Inc.
$88,677 $70,489 $68,812 
Series B convertible preferred stock dividend
(90)(90)(90)
Net income attributable to common shareholders
88,587 70,399 68,722 
Per share amount$5.65 $4.44 $4.07 
 
Diluted earnings per share:
Weighted average shares outstanding15,667 15,861 16,870 
Assumed conversion of convertible preferred stock840 840 840 
Total dilutive shares16,507 16,701 17,710 
Net income attributable to common shareholders
$88,587 $70,399 $68,722 
Series B convertible preferred stock dividend
90 90 90 
Net income attributable to DXP Enterprises, Inc.
88,677 70,489 68,812 
Per share amount$5.37 $4.22 $3.89 
v3.25.4
CAPITAL STOCK (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Activity Related to Common Stock Issued
The activity related to outstanding common stock was as follows (in thousands):

 December 31,
 202520242023
Common Stock:
Balance, beginning of period15,695 16,177 17,690 
Issuance of shares for compensation net of withholding98 86 47 
Restricted shares
(97)(2)147 
Purchase of shares held in treasury(182)(566)(1,707)
Balance, end of period15,514 15,695 16,177 
v3.25.4
SHARE REPURCHASE (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Share Repurchase
The following table represents total number of shares purchased, the amount paid, and the average price paid per share under share repurchase programs authorized by our Board of Directors:

 Twelve Months Ended December 31,
 202520242023
(in millions, except per share data)
Total number of shares purchased0.2 0.6 1.7 
Amount paid$17.0 $28.8 $54.7 
Average price paid per share$93.23 $50.87 $32.06 
v3.25.4
SUPPLEMENTAL CASH FLOW INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2025
Supplemental Cash Flow Information [Abstract]  
Supplemental Disclosures of Cash Flow Information
Income taxes paid net of refunds are as follows (in thousands):

Years Ended December 31,
202520242023
Federal$29,620 $11,958 $15,289 
State
     California (1)
567 1,309 21 
     Other States3,784 3,838 3,379 
Foreign
     Canada2,174 1,318 1,617 
     Other Foreign Jurisdictions254 258 257 
Total Income Taxes Paid (net of refunds)$36,399 $18,681 $20,563 
'(1) For 2025 and 2023, California did not exceed the 5% threshold; however, the total has been separately stated for comparability.
 Twelve Months Ended December 31,
 202520242023
Supplemental disclosures of cash flow information:
Cash paid for interest(1)
$53,698 $67,005 $48,954 
Cash paid for income taxes
$36,399 $20,433 $21,839 
Proceeds from issuance of Senior Secured Term Loan B, net of deferred financing costs
$202,077 $102,716 $113,108 
Non-cash investing and financing activities:
Issuance of Promissory Note (Note 9)
$— $1,000 $— 
Treasury shares excise tax accruals
$(115)$(225)$(519)
(1) FY 2024 includes $9.3 million of interest associated with 2023 paid in 2024.
v3.25.4
BUSINESS ACQUISITIONS (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Estimated Fair Value of Assets Acquired and Liabilities Assumed The following table summarizes the total consideration, the estimated fair values of the assets acquired and liabilities assumed at the acquisition date for the 2025 acquisitions:
Q1 2025Q2 2025Q3 2025Q4 2025Total
Total Acquisitions
11136
Cash payments
$12,981 $1,027 $10,916 $49,459 $74,383 
Contingent consideration
— — 683 4,130 4,813 
Total purchase price consideration
12,981 1,027 11,599 53,589 79,196 
Tangible assets acquired
8,160 927 5,219 26,949 41,255 
Intangible assets acquired
3,284 203 2,305 11,550 17,342 
Total assets acquired
11,444 1,130 7,524 38,499 58,597 
Total liabilities assumed(4,983)(508)(1,179)(12,485)(19,155)
Net assets acquired6,461 622 6,345 26,014 39,442 
Goodwill$6,520 $405 $5,254 $27,575 $39,754 
Q1 2024Q2 2024Q3 2024Q4 2024Total
Total Acquisitions
31127
Cash payments
$40,661 $81,538 $31,564 $8,201 $161,964 
Promissory Note due 11/1/2029— — — 1,000 1,000 
Contingent consideration
6,132 — 5,197 626 11,955 
Total purchase price consideration
46,793 81,538 36,761 9,827 174,919 
Tangible assets acquired
18,632 4,485 9,026 4,630 36,773 
Intangible assets acquired
8,155 23,400 8,246 1,820 41,621 
Total assets acquired
26,787 27,885 17,272 6,450 78,394 
Total liabilities assumed(8,605)(2,652)(1,205)(745)(13,207)
Net assets acquired18,182 25,233 16,067 5,705 65,187 
Goodwill$28,611 $56,305 $20,694 $4,122 $109,732 
Q1 2023
Q2 2023
Q3 2023
Q4 2023
Total
Total Acquisitions
— 2— 13
Cash payments
$— $9,235 $— $1,502 $10,737 
Contingent consideration
— 2,498 — 184 2,682 
Total purchase price consideration
— 11,733 — 1,686 13,419 
Tangible assets acquired
— 3,379 — 146 3,525 
Intangible assets acquired
— 2,142 — 385 2,527 
Total assets acquired
— 5,521 — 531 6,052 
Total liabilities assumed— (2,260)— (141)(2,401)
Net assets acquired— 3,261 — 390 3,651 
Goodwill$— $8,472 $— $1,296 $9,768 
Schedule of Pro Forma Financial Results (Unaudited)
The following unaudited supplemental pro forma results of operations for the Company which incorporate the acquisitions completed in 2025, 2024 and 2023, have been provided for illustrative purposes only and may not be indicative of the actual results that would have been achieved by the combined companies for the periods presented or that may be achieved by the combined companies in the future (in thousands).

  Years Ended December 31,
(in thousands)
202520242023
Sales$2,092,146 $1,961,097 $1,794,749 
Net income attributable to common shareholders$98,094 $93,786 $82,738 
v3.25.4
OTHER INCOME AND EXPENSE, NET (Tables)
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
Schedule of Other Nonoperating Income (Expense)
The components of other (income) expense, net were as follows:
  Years Ended December 31,
(in thousands)
202520242023
Interest income
$(3,579)$(4,766)$(2,680)
Change in fair value of contingent consideration
1,406 745 1,738 
Other, net
(709)504 (413)
Other income
$(2,882)$(3,517)$(1,355)
v3.25.4
REVENUE (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Revenues by Geographical Location
The Company’s revenues by geographical location are as follows (in millions):
  Years Ended December 31,
 202520242023
United States$1,939 $1,721 $1,602 
Canada75 79 75 
Other
2 2 2 
Total$2,016 $1,802 $1,679 
Schedule of Reconciliation of Net Sales to Organic Net Sales
The following tables sets forth the disaggregation of revenue from sales associated with recent acquisitions for the twelve months ended December 31, 2025 and 2024 (in thousands):


SalesAcquisition SalesOrganic Sales
Twelve Months Ended December 31, 2025
Service Centers$1,373,140 $56,164 $1,316,976 
Innovative Pumping Solutions390,291 39,879 350,412 
Supply Chain Services252,934 — 252,934 
Total Sales$2,016,365 $96,043 $1,920,322 
Twelve Months Ended December 31, 2024
Service Centers (1)
$1,236,775 $36,944 $1,199,831 
Innovative Pumping Solutions (1)
308,850 61,556 247,294 
Supply Chain Services256,415 — 256,415 
Total Sales$1,802,040 $98,500 $1,703,540 
$ Change
Service Centers$136,365 $19,220 $117,145 
Innovative Pumping Solutions81,441 (21,677)103,118 
Supply Chain Services(3,481)— (3,481)
Total $ Change$214,325 $(2,457)$216,782 
% Change
Service Centers11.0 %52.0 %9.8 %
Innovative Pumping Solutions26.4 %(35.2)%41.7 %
Supply Chain Services(1.4)%N/A(1.4)%
Total % Change11.9 %(2.5)%12.7 %
(1) Prior period segment disclosures have been recast. For additional information, please refer to Note 20. Segment Reporting.
The following tables sets forth the disaggregation of revenue from sales associated with recent acquisitions for the twelve months ended December 31, 2024 and 2023 (in thousands):


SalesAcquisition SalesOrganic Sales
Twelve Months Ended December 31, 2024
Service Centers (1)
$1,236,775 $36,944 $1,199,831 
Innovative Pumping Solutions (1)
308,850 61,556 247,294 
Supply Chain Services256,415 — 256,415 
Total Sales$1,802,040 $98,500 $1,703,540 
Twelve Months Ended December 31, 2023
Service Centers (1)
$1,214,602 $19,275 $1,195,327 
Innovative Pumping Solutions (1)
203,630 13,803 189,827 
Supply Chain Services260,368 — 260,368 
Total Sales$1,678,600 $33,078 $1,645,522 
$ Change
Service Centers$22,173 $17,669 $4,504 
Innovative Pumping Solutions105,220 47,753 57,467 
Supply Chain Services(3,953)— (3,953)
Total $ Change$123,440 $65,422 $58,018 
% Change
Service Centers1.8 %91.7 %0.4 %
Innovative Pumping Solutions51.7 %346.0 %30.3 %
Supply Chain Services(1.5)%N/A(1.5)%
Total % Change7.4 %197.8 %3.5 %
(1) Prior period segment disclosures have been recast. For additional information, please refer to Note 20. Segment Reporting.
v3.25.4
SEGMENT REPORTING (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Financial Information Related to Company's Segments
The following table sets out financial information related to the Company’s segments (in thousands):

Years Ended December 31,Service CentersInnovative Pumping SolutionsSupply Chain ServicesTotalCorporateTotal
2025    
Sales$1,373,140 $390,291 $252,934 $2,016,365 $— $2,016,365 
Operating expenses1,165,844 316,119 230,796 1,712,759 — 1,712,759 
Other expenses
Depreciation3,865 3,019 32 6,916 3,456 10,372 
Amortization of finance lease assets
5,265 930 187 6,382 426 6,808 
Other(1)
— — — — 109,556 109,556 
Income (loss) from operations
$198,166 $70,223 $21,919 $290,308 $(113,438)$176,870 
Interest expense— — — — 60,530 60,530 
Other income, net— — — — (2,882)(2,882)
Income (loss) before income taxes$198,166 $70,223 $21,919 $290,308 $(171,086)$119,222 
Capital expenditures$4,509 $3,580 $— $8,089 $32,197 $40,286 
(1). Other primarily includes selling, general and administrative expenses of $87.9 million and amortization of intangible assets of $21.7 million.

 
Years Ended December 31,Service CentersInnovative Pumping SolutionsSupply Chain ServicesTotalCorporateTotal
2024    
Sales$1,236,775 $308,850 $256,415 $1,802,040 $— $1,802,040 
Operating expenses1,051,316 253,927 234,508 1,539,751 — 1,539,751 
Other expenses
Depreciation3,125 3,352 32 6,509 2,510 9,019 
Amortization of finance lease assets
2,812 508 133 3,453 1,106 4,559 
Other(1)
— — — — 103,329 103,329 
Income (loss) from operations
$179,522 $51,063 $21,742 $252,327 $(106,945)$145,382 
Interest expense— — — — 63,927 63,927 
Other income, net— — — — (3,517)(3,517)
Income (loss) before income taxes$179,522 $51,063 $21,742 $252,327 $(167,355)$84,972 
Capital expenditures$4,144 $2,593 $13 $6,750 $18,318 $25,068 
(1). Other primarily includes selling, general and administrative expenses of $83.5 million and amortization of intangible assets of $19.8 million.
Years Ended December 31,Service CentersInnovative Pumping SolutionsSupply Chain ServicesTotalCorporateTotal
2023    
Sales$1,214,602 $203,630 $260,368 $1,678,600 $— $1,678,600 
Operating expenses1,032,264 167,333 238,774 1,438,371 — 1,438,371 
Other expenses
Depreciation2,729 3,687 27 6,443 1,980 8,423 
Amortization of finance lease assets
3,026 214 45 3,285 166 3,451 
Other(1)
— — — — 89,633 89,633 
Income (loss) from operations
$176,583 $32,396 $21,522 $230,501 $(91,779)$138,722 
Interest expense— — — — 53,146 53,146 
Other income, net— — — $— (1,355)$(1,355)
Income (loss) before income taxes$176,583 $32,396 $21,522 $230,501 $(143,570)$86,931 
Capital expenditures$6,277 $1,965 $— $8,242 $4,021 $12,263 
(1). Other primarily includes selling, general and administrative expenses of $71.4 million and amortization of intangible assets of $18.2 million.
Schedule of Reconciliation of Operating Income for Reportable Segments to Consolidated Income Before Taxes
Years Ended December 31,
 20252024
Service Centers$820,289 $744,966 
Innovative Pumping Solutions383,201 307,818 
Supply Chain Services
95,045 85,823 
Total Reportable Segments Assets
$1,298,535 $1,138,607 
Corporate 386,620 210,887 
Total Assets$1,685,155 $1,349,494 
v3.25.4
THE COMPANY (Details)
 12 Months Ended
Dec. 31, 2025
segment
THE COMPANY [Abstract]  
Number of business segments 3
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES - Changes in Allowance (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounts Receivable , Allowances for Credit Loss [Roll Forward]      
Beginning balance, January 1 $ 5,172 $ 5,584  
Charges to (recoveries of) expense 220 (887) $ (885)
Foreign currency translation (73) (42)  
Write-offs and other (1,324) 517  
Ending balance, December 31 $ 3,995 $ 5,172 $ 5,584
v3.25.4
SUMMARY OF SIGNIFICANT ACOCUNTING AND BUSINESS POLICIES - Inventories (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Finished goods $ 98,089 $ 89,780
Work in process 10,055 13,333
Inventories $ 108,144 $ 103,113
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES - Property and Equipment (Details)
Dec. 31, 2025
Buildings | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful life of property and equipment 20 years
Buildings | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful life of property and equipment 39 years
Building improvements | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful life of property and equipment 10 years
Building improvements | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful life of property and equipment 20 years
Furniture, fixtures and equipment | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful life of property and equipment 3 years
Furniture, fixtures and equipment | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful life of property and equipment 20 years
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES - Impairment of Goodwill, Other Intangibles and Long-lived Assets (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Goodwill impairments $ 0 $ 0 $ 0
Long-lived asset impairments $ 0 $ 0 $ 0
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES - Revenue Recognition (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue from External Customer [Line Items]      
Sales $ 2,016,365 $ 1,802,040 $ 1,678,600
Transferred over Time      
Revenue from External Customer [Line Items]      
Sales $ 373,300 $ 293,300 $ 311,000
v3.25.4
LEASES - Lease Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases, Operating [Abstract]      
Operating lease costs $ 23,059 $ 21,210 $ 21,575
Finance lease costs:      
Amortization of assets 6,808 4,559 3,451
Interest on lease liabilities 1,467 1,108 595
Total finance lease costs 8,275 5,667 4,046
Total operating and finance lease costs $ 31,334 $ 26,877 $ 25,621
v3.25.4
LEASES - Supplemental Balance Sheet Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Operating lease right of use assets, net $ 74,709 $ 46,569
Property and equipment, net 20,106 15,829
Total lease assets 94,815 62,398
Liabilities    
Short-term operating lease liabilities 19,038 14,921
Long-term operating lease liabilities 57,509 33,159
Current finance 7,660 5,321
Non-current finance 13,223 11,055
Present value of lease liabilities $ 97,430 $ 64,456
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Current, Other long-term liabilities Other Liabilities, Current, Other long-term liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other long-term liabilities Other long-term liabilities
v3.25.4
LEASES - Maturity of Lease Liabilities (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Finance  
2026 $ 8,894
2027 7,246
2028 4,839
2029 2,014
2030 149
Thereafter 0
Total future lease payments 23,142
Less: imputed interest 2,259
Total lease liability balance 20,883
Operating  
2026 24,481
2027 20,671
2028 15,565
2029 12,112
2030 9,502
Thereafter 10,569
Total future lease payments 92,900
Less: imputed interest 16,353
Total lease liability balance $ 76,547
v3.25.4
LEASES - Lease Term and Discount Rate (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Cash paid for operating leases $ 22,658 $ 20,886  
Cash paid for finance leases 6,592 4,216 $ 2,347
Assets obtained in exchange for operating lease obligations, initial recognition 23,499 4,551  
Assets obtained in exchange for finance lease obligations $ 10,965 $ 8,441  
Weighted-average remaining lease term - operating leases 4 years 9 months 18 days 3 years 10 months 24 days  
Weighted-average remaining lease term - finance leases 3 years 3 years 2 months 12 days  
Weighted average discount rate - operating leases 8.30% 8.10%  
Weighted-average discount rate - finance leases 7.50% 8.50%  
v3.25.4
LEASES - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Chief Executive Officer      
Lessee, Lease, Description [Line Items]      
Lease expenses $ 2.3 $ 1.9 $ 1.8
v3.25.4
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES - Narrative (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Higher range of undiscounted amounts to pay under contingent consideration $ 14,900      
Contingent consideration arrangement, term 3 years      
Fair Value, Inputs, Level 3 | Minimum | PMI, Burlingame, Drydon, Cisco and Sullivan | Annualized EBITDA and probability of achievement | Discounted cash flow        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Discount rate 0.083      
Fair Value, Inputs, Level 3 | Contingent Consideration Liability | Fair Value, Measurements, Recurring        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Fair value of contingent consideration liability $ 13,775 $ 16,322 $ 8,753 $ 10,166
v3.25.4
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES - Reconciliation of Beginning and Ending Balances (Details) - Fair Value, Measurements, Recurring - Fair Value, Inputs, Level 3 - Contingent Consideration Liability - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Contingent Liability for Accrued Consideration      
Beginning Balance $ 16,322 $ 8,753 $ 10,166
Acquisitions and settlements:      
Acquisitions 4,813 11,932 2,682
Settlements (8,766) (5,108) (5,833)
Total remeasurement adjustments:      
Changes in fair value recorded in other (income) expense, net 1,406 745 1,738
Ending Balance 13,775 16,322 $ 8,753
Other Current Liabilities      
Contingent Liability for Accrued Consideration      
Beginning Balance 8,000    
Total remeasurement adjustments:      
Ending Balance 9,400 8,000  
Other Noncurrent Liabilities      
Contingent Liability for Accrued Consideration      
Beginning Balance 8,300    
Total remeasurement adjustments:      
Ending Balance $ 4,400 $ 8,300  
v3.25.4
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES - Quantitative Information About Level 3 (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Inputs, Level 3 | Contingent Consideration Liability | Fair Value, Measurements, Recurring        
Fair Value Measurement Inputs and Valuation Techniques [Line Items]        
Fair value of contingent consideration liability $ 13,775 $ 16,322 $ 8,753 $ 10,166
v3.25.4
CONTRACT ASSETS AND LIABILITIES (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Schedule of costs and estimated earnings on uncompleted contracts [Abstract]      
Costs incurred on uncompleted contracts $ 147,866 $ 122,951 $ 92,363
Estimated profits, thereon 71,260 58,373 37,379
Total costs and estimated profits on uncompleted contracts 219,126 181,324 129,742
Less: billings to date 180,960 143,251 96,925
Total 38,166 38,073 32,817
Schedule of Costs and Estimated Earnings on Uncompleted Contracts Included in Condensed Consolidated Balance Sheets [Abstract]      
Costs and estimated profits in excess of billings 53,855 50,735 42,323
Billings in excess of costs and estimated profits (15,689) (12,662) (9,506)
Net contract assets 38,166 38,073 32,817
Balances previously classified as contract liabilities at the beginning of the period shipped during fiscal year $ 10,400 $ 7,400 $ 10,400
v3.25.4
PROPERTY AND EQUIPMENT, NET (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]      
Finance lease right of use assets $ 34,577 $ 23,612  
Less – Accumulated depreciation and amortization (136,172) (113,470)  
Property and equipment, net 114,822 81,556  
Depreciation expense 10,372 9,019 $ 8,423
Land      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross 1,704 1,704  
Buildings and leasehold improvements      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross 37,667 32,652  
Furniture, fixtures and equipment      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross $ 177,046 $ 137,058  
v3.25.4
GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in Carrying Amount of Goodwill and Other Intangible Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill      
Balance at beginning of period $ 452,343 $ 343,991  
Translation adjustment 870 (1,380)  
Acquisitions 41,348 109,732  
Balance at end of period 494,561 452,343 $ 343,991
Other Intangible Assets, Net      
Balance at beginning of period 85,679 63,895  
Translation adjustment 0 (10)  
Acquisitions 17,342 41,621  
Amortization (21,670) (19,827) (18,200)
Balance at end of period 81,351 85,679 63,895
Total      
Balance at beginning of period 538,022 407,886  
Translation adjustment 870 (1,390)  
Acquisitions 58,690 151,353  
Amortization (21,670) (19,827) (18,200)
Balance at end of period $ 575,912 $ 538,022 $ 407,886
v3.25.4
GOODWILL AND OTHER INTANGIBLE ASSETS - Goodwill Balance by Reportable Segment (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Line Items]      
Goodwill $ 494,561 $ 452,343 $ 343,991
Service Centers      
Goodwill [Line Items]      
Goodwill 349,860 335,611  
Innovative Pumping Solutions      
Goodwill [Line Items]      
Goodwill 127,562 99,593  
Supply Chain Services      
Goodwill [Line Items]      
Goodwill $ 17,139 $ 17,139  
v3.25.4
GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]      
Amortization of intangibles and finance lease assets $ 21,670 $ 19,827 $ 18,200
Customer Relationships      
Finite-Lived Intangible Assets [Line Items]      
Amortization term of acquired intangibles 5 years 4 months 24 days    
Trade Names      
Finite-Lived Intangible Assets [Line Items]      
Amortization term of acquired intangibles 8 years 4 months 24 days    
Noncompete Agreements      
Finite-Lived Intangible Assets [Line Items]      
Amortization term of acquired intangibles 3 years 2 months 12 days    
v3.25.4
GOODWILL AND OTHER INTANGIBLE ASSETS - Estimated Future Annual Amortization of Intangible Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]      
2026 $ 20,724    
2027 18,708    
2028 16,412    
2029 9,107    
2030 6,582    
Thereafter 9,818    
Total $ 81,351 $ 85,679 $ 63,895
v3.25.4
LONG-TERM DEBT - Components of Long-term Debt (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Borrowings [Abstract]    
Less: current maturities $ (8,580) $ (6,595)
Unamortized discount and debt issuance costs 19,729 20,597
Long-term debt, net of unamortized debt issuance costs and discounts 818,476 621,684
Carrying Value    
Borrowings [Abstract]    
Total debt 846,785 648,876
Less: current maturities (8,580) (6,595)
Total long-term debt 838,205 642,281
Long-term debt, net of unamortized debt issuance costs and discounts 818,476 621,684
Carrying Value | ABL Revolver    
Borrowings [Abstract]    
Total debt 0 0
Carrying Value | Senior Secured Term Loan B due October 13, 2030    
Borrowings [Abstract]    
Total debt 845,885 647,876
Carrying Value | Promissory Note due November 1, 2029    
Borrowings [Abstract]    
Total debt 900 1,000
Fair Value    
Borrowings [Abstract]    
Total debt $ 854,300 $ 657,600
v3.25.4
LONG-TERM DEBT - Senior Secured Term Loan B (Details)
$ in Thousands
 12 Months Ended
Dec. 16, 2025
USD ($)
Oct. 03, 2024
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Oct. 04, 2024
Debt Instrument [Line Items]            
Amortization of debt issuance costs     $ 4,041 $ 3,646 $ 2,991  
Secured Debt | Term Loan Agreement            
Debt Instrument [Line Items]            
Liability outstanding     848,000      
Amortization of debt issuance costs $ 1,200          
Secured Debt | 2025 Incremental Term Loans            
Debt Instrument [Line Items]            
Maximum borrowing capacity $ 205,000          
Deferred financing costs       $ 2,900    
Secured Debt | Amended Term Loan B due October 13, 2030            
Debt Instrument [Line Items]            
Liability outstanding     $ 845,900      
Interest rate     7.17% 8.32%    
Increase in borrowing capacity     $ 100,000      
Debt Instrument, Excess Cash Flow Percentage   0.50       0.25
Covenant, leverage ratio, maximum   3.00        
Covenant, leverage ratio minimum   2.50        
Debt covenant, unrestricted cash limit     $ 330,000      
Secured Debt | Amended Term Loan B due October 13, 2030 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate            
Debt Instrument [Line Items]            
Variable rate floor   1.00%        
Margin rate   3.25%        
Secured Debt | Amended Term Loan B due October 13, 2030 | Base Rate            
Debt Instrument [Line Items]            
Margin rate   2.25%        
v3.25.4
LONG-TERM DEBT - Secured Leverage Ratio to EBITDA (Details) - Secured Debt - Amended Term Loan B due October 13, 2030
Dec. 31, 2025
Debt Instrument [Line Items]  
Secured Leverage Ratio 2.25
December 31, 2025  
Debt Instrument [Line Items]  
Secured Leverage Ratio 5.75
March 31, 2026  
Debt Instrument [Line Items]  
Secured Leverage Ratio 5.75
June 30, 2026  
Debt Instrument [Line Items]  
Secured Leverage Ratio 5.50
Debt Covenant Period Four [Member]  
Debt Instrument [Line Items]  
Secured Leverage Ratio 5.50
December 31, 2026  
Debt Instrument [Line Items]  
Secured Leverage Ratio 5.50
March 31, 2027  
Debt Instrument [Line Items]  
Secured Leverage Ratio 5.25
June 30, 2027  
Debt Instrument [Line Items]  
Secured Leverage Ratio 5.25
September 30, 2027  
Debt Instrument [Line Items]  
Secured Leverage Ratio 5.25
December 31, 2027  
Debt Instrument [Line Items]  
Secured Leverage Ratio 5.00
March 31, 2028  
Debt Instrument [Line Items]  
Secured Leverage Ratio 5.00
June 30, 2028 and thereafter  
Debt Instrument [Line Items]  
Secured Leverage Ratio 4.75
v3.25.4
LONG-TERM DEBT - ABL Revolver (Details)
 12 Months Ended
Jul. 01, 2025
USD ($)
Jul. 19, 2022
USD ($)
Dec. 31, 2025
USD ($)
Jun. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 23, 2020
Debt Instrument [Line Items]            
Consolidated fixed charge coverage ratio     2.12      
Revolving Credit Facility | ABL Revolver            
Debt Instrument [Line Items]            
Maximum borrowing capacity $ 185,000,000.0     $ 135,000,000.0    
Minimum increments of borrowing capacity   $ 10,000,000.0        
Increase in borrowing capacity   $ 50,000,000.0 $ 50,000,000      
Unused facility fee percentage     0.375%      
Amount outstanding under line of credit     $ 0      
Interest rate     7.00%   7.75%  
Available borrowing capacity     $ 153,500,000   $ 125,600,000  
Line Of Credit Facility, Maximum Borrowing Capacity, Increase (Decrease) $ 50,000,000          
Revolving Credit Facility | ABL Revolver | Minimum            
Debt Instrument [Line Items]            
Unused facility fee percentage 0.25%          
Revolving Credit Facility | ABL Revolver | Minimum | SOFR or CDOR            
Debt Instrument [Line Items]            
Margin rate 1.25%          
Revolving Credit Facility | ABL Revolver | Minimum | Canadian Prime Rate or Canadian Base Rate            
Debt Instrument [Line Items]            
Margin rate 0.25%          
Revolving Credit Facility | ABL Revolver | Maximum            
Debt Instrument [Line Items]            
Unused facility fee percentage 0.375%          
Revolving Credit Facility | ABL Revolver | Maximum | SOFR or CDOR            
Debt Instrument [Line Items]            
Margin rate 1.75%          
Revolving Credit Facility | ABL Revolver | Maximum | Canadian Prime Rate or Canadian Base Rate            
Debt Instrument [Line Items]            
Margin rate 0.75%          
Secured Debt | Term Loan B Agreement            
Debt Instrument [Line Items]            
Fixed charge coverage ratio           1.00
Secured Debt | Amended Term Loan B due October 13, 2030            
Debt Instrument [Line Items]            
Increase in borrowing capacity     $ 100,000,000      
Interest rate     7.17%   8.32%  
Secured Leverage Ratio     2.25      
Letter of Credit | ABL Revolver            
Debt Instrument [Line Items]            
Available borrowing capacity     $ 31,500,000   $ 9,300,000  
v3.25.4
LONG-TERM DEBT - Promissory Note (Details) - November 2024 Promissory Note
$ in Millions
Nov. 01, 2024
USD ($)
installment
Debt Instrument [Line Items]  
Deb instrument face amount $ 1.0
Number of equal consecutive annual installments | installment 4
Debt instrument, annual principal payment $ 0.1
Interest rate, 5.00%
v3.25.4
LONG-TERM DEBT - Maturities of Long-term Debt (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Debt Disclosure [Abstract]  
2026 $ 8,580
2027 8,580
2028 8,580
2029 9,080
2030 811,965
Total debt $ 846,785
v3.25.4
INCOME TAXES - Components of Income (Loss) Before Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Domestic $ 110,687 $ 77,309 $ 79,785
Foreign 8,535 7,663 7,146
Income before income taxes $ 119,222 $ 84,972 $ 86,931
v3.25.4
INCOME TAXES - Provision for Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current -      
Federal $ (3,254) $ 22,066 $ 22,514
State 4,783 5,217 2,620
Foreign 2,194 2,190 2,044
Total current 3,723 29,473 27,178
Deferred -      
Federal 26,306 (13,597) (7,679)
State 516 (1,347) (1,133)
Foreign 0 (46) (247)
Total deferred 26,822 (14,990) (9,059)
Total current and deferred taxes $ 30,545 $ 14,483 $ 18,119
v3.25.4
INCOME TAXES - Effective Income Tax Rate (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
U.S. Federal Statutory Tax Rates $ 25,034 $ 17,844 $ 18,392
State and local income tax, net of federal (national) income tax effect 4,206 3,057 1,620
Effect of changes in tax laws or rates enacted in the current period 0 0 0
Effect of cross-border tax laws 0 0 0
Research Tax Credit 1,339 (7,333) (4,718)
Foreign Tax Credit 0 0 0
Other Tax Credits (62) (118) (19)
Changes in valuation allowances 0 0 0
162(m) compensation 2,583 1,281 513
Other nondeductible items 1,992 (460) 847
Restricted Stock (275) (2,056) (3)
Earnout 0 0 1,225
Changes in unrecognized tax benefits. (1,336) 1,732 (33)
Other Adjustments (3,359) 9 (2)
Total current and deferred taxes $ 30,545 $ 14,483 $ 18,119
Percent      
U.S. Federal Statutory Tax Rates 21.00% 21.00% 21.20%
State and local income tax, net of federal (national) income tax effect 3.50% 3.60% 1.90%
Effect of changes in tax laws or rates enacted in the current period 0.00% 0.00% 0.00%
Effect of cross-border tax laws 0.00% 0.00% 0.00%
Research Tax Credit 1.10% (8.60%) (5.40%)
Foreign Tax Credit 0.00% 0.00% 0.00%
Other Tax Credits (0.10%) (0.10%) 0.00%
Changes in valuation allowances 0.00% 0.00% 0.00%
162(m) compensation 2.20% 1.50% 0.60%
Other nondeductible items 1.70% (0.50%) 1.00%
Restricted Stock (0.20%) (2.40%) 0.00%
Earnout 0.00% 0.00% 1.40%
Changes in unrecognized tax benefits. (1.10%) 2.00% (0.20%)
Other Adjustments (2.80%) (0.10%) 0.00%
Effective Tax Rate 25.60% 17.00% 20.80%
Canada      
Amount      
Foreign tax effects $ 330 $ 433 $ 280
Percent      
Foreign tax effects 0.30% 0.50% 0.30%
Mexico      
Amount      
Foreign tax effects $ 38 $ 14 $ 17
Percent      
Foreign tax effects 0.00% 0.00% 0.00%
Other Foreign Jurisdictions      
Amount      
Foreign tax effects $ 55 $ 80 $ 0
Percent      
Foreign tax effects 0.00% 0.10% 0.00%
v3.25.4
INCOME TAXES - Deferred Tax Liabilities and Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Allowance for doubtful accounts $ 868 $ 954
Inventory 5,449 3,585
Foreign Tax Credit Carryforward 203 64
Charitable Contribution Carryforward 1,225 0
Net operating loss carryforward 15,224 1,258
Capital loss carryforward 4 4
Deferred compensation 490 2,304
Accruals 10,910 9,814
Business interest expense carryforward 962 0
ROU Lease Liability 17,389 304
Section 174 Addback 0 40,650
Total deferred tax assets 59,672 63,483
Less valuation allowance (221) (221)
Total deferred tax asset, net of valuation allowance 59,451 63,262
Deferred tax liabilities:    
Goodwill (26,252) (24,847)
Intangibles (6,322) (7,902)
Property and equipment (17,933) (10,204)
ROU Asset (17,007) 0
Unremitted foreign earnings (421) (421)
Method changes (1,088) (393)
Other (802) (243)
Total deferred tax liability (69,825) (44,010)
Net deferred tax (liability) asset (10,374)  
Net deferred tax (liability) asset   19,252
State | Texas    
Deferred tax assets:    
Credit carryforward 2,283 2,232
State | Louisiana    
Deferred tax assets:    
Credit carryforward 10 10
Domestic    
Deferred tax assets:    
Credit carryforward $ 1,953 $ 0
v3.25.4
INCOME TAXES - Changes in Valuation Allowance for Deferred Tax Assets (Details) - Valuation Allowance, Deferred Tax Asset - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at January 1 $ (221) $ (278) $ (4)
Changes due to state operating loss and foreign capital loss carryforwards 0 57 (274)
Balance at December 31 $ (221) $ (221) $ (278)
v3.25.4
INCOME TAXES - Tax Carryforwards (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Domestic  
Operating Loss Carryforwards [Line Items]  
Net operating loss - federal (80%) $ 13,116
Domestic | Foreign Tax Credits  
Operating Loss Carryforwards [Line Items]  
Tax credits 203
Domestic | Research and Development Tax Credits | Texas  
Operating Loss Carryforwards [Line Items]  
Tax credits 2,283
Domestic | Research and Development Tax Credits | Louisiana  
Operating Loss Carryforwards [Line Items]  
Tax credits 10
Foreign  
Operating Loss Carryforwards [Line Items]  
Net operating loss 543
Foreign | Capital Loss Carryforward  
Operating Loss Carryforwards [Line Items]  
Tax credits 4
State  
Operating Loss Carryforwards [Line Items]  
Net operating loss $ 1,566
v3.25.4
INCOME TAXES - Changes in Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]      
Balance at January 1, $ (8,702) $ (5,755) $ (5,918)
Decreases related to prior year tax positions 2,088 142 1,475
Increases related to current year tax positions (8) (3,089) (1,312)
Balance at December 31, $ (6,622) $ (8,702) $ (5,755)
v3.25.4
INCOME TAXES - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Loss Carryforwards [Line Items]        
Benefit for uncertain tax positions $ 6,622 $ 8,702 $ 5,755 $ 5,918
Tax expense for interest and penalties related to uncertain tax positions 300      
Research And Development Tax Credits        
Operating Loss Carryforwards [Line Items]        
Benefit for uncertain tax positions 6,100      
Nondeductible Expense, Auto Expense Compensation        
Operating Loss Carryforwards [Line Items]        
Benefit for uncertain tax positions 500      
Federal and State        
Operating Loss Carryforwards [Line Items]        
Research Tax Credit $ 34,900      
v3.25.4
INCOME TAXES - Schedule of Cash Paid for Income Taxes, Net of Refunds (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Effective Income Tax Rate Reconciliation [Line Items]      
Federal $ 29,620 $ 11,958 $ 15,289
Total 36,399 18,681 20,563
California      
Effective Income Tax Rate Reconciliation [Line Items]      
State 567 1,309 21
Other States      
Effective Income Tax Rate Reconciliation [Line Items]      
State 3,784 3,838 3,379
Canada      
Effective Income Tax Rate Reconciliation [Line Items]      
Foreign 2,174 1,318 1,617
Other      
Effective Income Tax Rate Reconciliation [Line Items]      
Foreign $ 254 $ 258 $ 257
v3.25.4
SHARE-BASED COMPENSATION - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 16, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Jun. 15, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Weighted average period over which compensation costs are expected to be recognized   1 year 2 months 12 days      
Minimum | Restricted Stock          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award vesting period   1 year      
Maximum | Restricted Stock          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award vesting period   10 years      
2016 Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Number of shares authorized for issuance (in shares) 1,250,000       1,000,000
Increase in number of shares authorized for grant (in shares) 250,000        
Unrecognized compensation expense   $ 6.9 $ 7.7 $ 5.9  
2016 Plan | Restricted Stock          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Number of shares available for future grant (in shares)   316,163      
v3.25.4
SHARE-BASED COMPENSATION - Changes in Restricted Stock (Details) - Restricted Stock - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Number of Shares      
Non-vested, beginning balance (in shares) 302,400 304,437 157,767
Granted (in shares) 57,275 127,860 215,554
Forfeited (in shares) (2,478) (9,644) 0
Vested (in shares) (151,486) (120,253) (68,884)
Non-vested, ending balance (in shares) 205,711 302,400 304,437
Weighted Average Grant Price      
Non-vested, beginning balance (in dollars per share) $ 38.11 $ 27.60 $ 28.64
Granted (in dollars per share) 89.87 52.89 27.36
Forfeited (in dollars per share) 40.34 26.96 0
Vested (in dollars per share) 35.73 28.13 29.23
Non-vested, ending balance (in dollars per share) $ 54.25 $ 38.11 $ 27.60
v3.25.4
SHARE-BASED COMPENSATION - Vesting and Distribution of RSAs (Details) - Restricted Stock - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Aggregate grant-date fair value of vested shares $ 5,412 $ 3,382 $ 2,013
Tax benefits realized for tax deductions related to vestings 1,462 803 756
Compensation expense associated with RSAs recognized during the period $ 5,708 $ 4,714 $ 3,072
v3.25.4
EARNINGS PER SHARE DATA - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Basic earnings per share:      
Weighted average shares outstanding (in shares) 15,667 15,861 16,870
Net income attributable to DXP Enterprises, Inc. $ 88,677 $ 70,489 $ 68,812
Series B convertible preferred stock dividend (90) (90) (90)
Net income attributable to common shareholders $ 88,587 $ 70,399 $ 68,722
Per share amount (in dollars per share) $ 5.65 $ 4.44 $ 4.07
Diluted earnings per share:      
Weighted average shares outstanding (in shares) 15,667 15,861 16,870
Assumed conversion of convertible preferred stock (in shares) 840 840 840
Total dilutive shares (in shares) 16,507 16,701 17,710
Net income attributable to common shareholders $ 88,587 $ 70,399 $ 68,722
Series B convertible preferred stock dividend 90 90 90
Net income attributable to DXP Enterprises, Inc. $ 88,677 $ 70,489 $ 68,812
Per share amount (in dollars per share) $ 5.37 $ 4.22 $ 3.89
v3.25.4
EARNINGS PER SHARE DATA - Narrative (Details) - shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Convertible preferred stock (in shares) 840,000 840,000 840,000
Restricted Stock      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Weighted average unvested (in shares) 232,100 302,800 270,200
v3.25.4
CAPITAL STOCK - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
vote
$ / shares
shares
Dec. 31, 2024
shares
Dec. 31, 2023
shares
Series A preferred Stock      
Class of Stock [Line Items]      
Preferred stock, shares Issued (in shares) 1,222 1,222 1,222
Preferred stock, shares outstanding (in shares) 1,222 1,222 1,222
Preferred stock, liquidation preference per share (in dollars per share) | $ / shares $ 100    
Preferred stock, votes per each share | vote 0.10    
Series B Preferred Stock      
Class of Stock [Line Items]      
Preferred stock, shares Issued (in shares) 15,000 15,000 15,000
Preferred stock, shares outstanding (in shares) 15,000 15,000 15,000
Series B convertible preferred stock      
Class of Stock [Line Items]      
Preferred stock, liquidation preference per share (in dollars per share) | $ / shares $ 100    
Convertible preferred stock, shares Issued upon conversion (in shares) 56    
Preferred stock, dividend rate per share (in dollars per share) | $ / shares $ 0.50    
Preferred stock, votes per each share | vote 0.10    
v3.25.4
CAPITAL STOCK - Activity of Common Stock Issued (Details) - shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Common Stock:      
Balance, beginning of period (in shares) 15,695,088    
Balance, end of period (in shares) 15,513,590 15,695,088  
Common Stock      
Common Stock:      
Balance, beginning of period (in shares) 15,695,000 16,177,000 17,690,000
Issuance of shares for compensation net of withholding (in shares) 98,000 86,000 47,000
Restricted shares (in shares) (97,000) (2,000) 147,000
Purchase of shares held in treasury (in shares) (182,000) (566,000) (1,707,000)
Balance, end of period (in shares) 15,514,000 15,695,000 16,177,000
v3.25.4
SHARE REPURCHASE - Narrative (Details) - Share Repurchase Program December 2022 - USD ($)
$ in Millions
Aug. 28, 2024
Dec. 15, 2022
Class of Stock [Line Items]    
Share repurchase period 24 months 24 months
Common Stock    
Class of Stock [Line Items]    
Share repurchase, amount authorized $ 85.0 $ 85.0
Shares repurchase, shares authorized (in shares) 2,500,000 2,800,000
v3.25.4
SHARE REPURCHASE - Schedule of Share Repurchase (Details) - USD ($)
$ / shares in Units, $ in Thousands, shares in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Class of Stock [Line Items]      
Amount paid $ 16,994 $ 28,783 $ 55,696
Share Repurchase Program May 2021 | Common Stock      
Class of Stock [Line Items]      
Total number of shares repurchased (in shares) 0.2 0.6 1.7
Amount paid $ 17,000 $ 28,800 $ 54,700
Average price paid per share (in dollars per share) $ 93.23 $ 50.87 $ 32.06
v3.25.4
SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Supplemental disclosures of cash flow information:      
Cash paid for interest $ 53,698 $ 67,005 $ 48,954
Cash paid for income taxes 36,399 20,433 21,839
Proceeds from issuance of Senior Secured Term Loan B, net of deferred financing costs 202,077 102,716 113,108
Non-cash investing and financing activities:      
Issuance of Promissory Note (Note 9) 0 1,000 0
Treasury shares excise tax accruals $ (115) (225) $ (519)
Cash paid for interest   $ 9,300  
v3.25.4
BUSINESS ACQUISITIONS - Narrative (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
USD ($)
business_acquired
Sep. 30, 2025
USD ($)
business_acquired
Jun. 30, 2025
USD ($)
business_acquired
Mar. 31, 2025
USD ($)
business_acquired
Dec. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
business_acquired
Dec. 31, 2024
USD ($)
business
Sep. 30, 2024
USD ($)
business_acquired
Jun. 30, 2024
USD ($)
business_acquired
Mar. 31, 2024
USD ($)
business_acquired
Dec. 31, 2023
USD ($)
Jun. 30, 2023
USD ($)
business_acquired
Dec. 31, 2025
USD ($)
business_acquired
Dec. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
business_acquired
Dec. 31, 2024
USD ($)
business
Dec. 31, 2023
USD ($)
Dec. 31, 2023
USD ($)
business_acquired
Dec. 31, 2023
USD ($)
business
Business Combination [Line Items]                                      
Sales                         $ 2,016,365 $ 1,802,040     $ 1,678,600    
Income (loss) before income taxes                         119,222 84,972     86,931    
Goodwill $ 494,561       $ 452,343 $ 452,343 $ 452,343       $ 343,991   494,561 452,343 $ 452,343 $ 452,343 343,991 $ 343,991 $ 343,991
Higher range of undiscounted amounts to pay under contingent consideration                         $ 14,900            
Noncompete Agreements                                      
Business Combination [Line Items]                                      
Amortization term of acquired intangibles                         3 years 2 months 12 days            
Trade Names                                      
Business Combination [Line Items]                                      
Amortization term of acquired intangibles                         8 years 4 months 24 days            
Customer Relationships                                      
Business Combination [Line Items]                                      
Amortization term of acquired intangibles                         5 years 4 months 24 days            
Service Centers                                      
Business Combination [Line Items]                                      
Sales                         $ 1,373,140 1,236,775          
Goodwill 349,860       335,611 335,611 335,611           349,860 335,611 335,611 335,611      
Innovative Pumping Solutions                                      
Business Combination [Line Items]                                      
Sales                         390,291 308,850          
Goodwill 127,562       99,593 99,593 99,593           $ 127,562 99,593 $ 99,593 $ 99,593      
Acquisitions 2025                                      
Business Combination [Line Items]                                      
Number of completed acquisitions | business_acquired                         6            
Total purchase price consideration                         $ 79,196            
Goodwill 39,754                       39,754            
Intangible assets acquired $ 17,342                       17,342            
Contingent consideration                         4,813            
Acquisitions 2025, Q1                                      
Business Combination [Line Items]                                      
Number of completed acquisitions | business_acquired       1                              
Total purchase price consideration       $ 12,981                              
Goodwill       6,520                              
Intangible assets acquired       3,284                              
Contingent consideration       $ 0                              
Acquisitions 2025, Q2                                      
Business Combination [Line Items]                                      
Number of completed acquisitions | business_acquired     1                                
Total purchase price consideration     $ 1,027                                
Goodwill     405                                
Intangible assets acquired     203                                
Contingent consideration     $ 0                                
Acquisitions 2025, Q3                                      
Business Combination [Line Items]                                      
Number of completed acquisitions | business_acquired   1                                  
Total purchase price consideration   $ 11,599                                  
Goodwill   5,254                                  
Intangible assets acquired   2,305                                  
Contingent consideration   $ 683                                  
Acquisitions 2025, Q4                                      
Business Combination [Line Items]                                      
Number of completed acquisitions | business_acquired 3                                    
Total purchase price consideration $ 53,589                                    
Goodwill 27,575                       27,575            
Intangible assets acquired 11,550                       $ 11,550            
Contingent consideration 4,130                                    
Acquisitions 2024                                      
Business Combination [Line Items]                                      
Number of completed acquisitions                         6   7 7      
Total purchase price consideration                         $ 79,200 174,919          
Sales                         42,700 91,300          
Income (loss) before income taxes                         4,400 19,100          
Business combination, recognized asset acquired, cash and cash equivalent 12,700                       12,700            
Acquisition related costs                         1,800            
Tax deductible transaction expenses                         33,100            
Transaction expenses not deductible for tax purposes                         6,700            
Goodwill         109,732 109,732 109,732             109,732 $ 109,732 $ 109,732      
Intangible assets acquired $ 17,300       41,621 $ 41,621 $ 41,621           17,300 41,621 41,621 41,621      
Lower range of undiscounted amounts to pay under contingent consideration                         0            
Higher range of undiscounted amounts to pay under contingent consideration                         5,600            
Contingent consideration                           11,955          
Acquisitions 2024 | Fair Value, Inputs, Level 3                                      
Business Combination [Line Items]                                      
Contingent consideration                         $ 4,800            
Acquisitions 2024 | Fair Value, Inputs, Level 3 | Contingent Consideration Liability | Valuation, Weighted Probability Of Possible Payments                                      
Business Combination [Line Items]                                      
Discount rate 0.083                       0.083            
Acquisitions 2024 | Minimum                                      
Business Combination [Line Items]                                      
EBITDA                         1 year            
Acquisitions 2024 | Maximum                                      
Business Combination [Line Items]                                      
EBITDA                         3 years            
Acquisitions 2024 | Noncompete Agreements                                      
Business Combination [Line Items]                                      
Intangible assets acquired $ 900                       $ 900            
Amortization term of acquired intangibles                         5 years            
Acquisitions 2024 | Customer Relationships                                      
Business Combination [Line Items]                                      
Intangible assets acquired 16,400                       $ 16,400            
Amortization term of acquired intangibles                         8 years            
Acquisitions 2024 | Service Centers                                      
Business Combination [Line Items]                                      
Goodwill 12,200                       $ 12,200            
Acquisitions 2024 | Innovative Pumping Solutions                                      
Business Combination [Line Items]                                      
Goodwill $ 27,600                       $ 27,600            
Acquisitions 2024, Q1                                      
Business Combination [Line Items]                                      
Number of completed acquisitions | business_acquired                   3                  
Total purchase price consideration                   $ 46,793                  
Goodwill                   28,611                  
Intangible assets acquired                   8,155                  
Contingent consideration                   $ 6,132                  
Acquisitions 2024, Q2                                      
Business Combination [Line Items]                                      
Number of completed acquisitions | business_acquired                 1                    
Total purchase price consideration                 $ 81,538                    
Goodwill                 56,305                    
Intangible assets acquired                 23,400                    
Contingent consideration                 $ 0                    
Acquisitions 2024, Q3                                      
Business Combination [Line Items]                                      
Number of completed acquisitions | business_acquired               1                      
Total purchase price consideration               $ 36,761                      
Goodwill               20,694                      
Intangible assets acquired               8,246                      
Contingent consideration               $ 5,197                      
Acquisitions 2024, Q4                                      
Business Combination [Line Items]                                      
Number of completed acquisitions           2 2                        
Total purchase price consideration         9,827                            
Goodwill         4,122 $ 4,122 $ 4,122             4,122 4,122 4,122      
Intangible assets acquired         1,820 $ 1,820 $ 1,820             $ 1,820 $ 1,820 $ 1,820      
Contingent consideration         626                            
Acquisitions 2023                                      
Business Combination [Line Items]                                      
Number of completed acquisitions                                   3 3
Total purchase price consideration                                 13,419    
Sales                                 7,600    
Income (loss) before income taxes                                 800    
Goodwill                     9,768           9,768 $ 9,768 $ 9,768
Intangible assets acquired                     2,527           2,527 2,527 2,527
Contingent consideration                                 2,682    
Acquisitions 2023, Q2                                      
Business Combination [Line Items]                                      
Number of completed acquisitions | business_acquired                       2              
Total purchase price consideration                       $ 11,733              
Goodwill                       8,472              
Intangible assets acquired                       2,142              
Contingent consideration                       $ 2,498              
Acquisitions 2023, Q4                                      
Business Combination [Line Items]                                      
Number of completed acquisitions | business_acquired           1                          
Total purchase price consideration         1,686           1,700                
Goodwill                     1,296           1,296 1,296 1,296
Intangible assets acquired                     $ 385           $ 385 $ 385 $ 385
Contingent consideration         $ 184                            
v3.25.4
BUSINESS ACQUISITIONS - Purchase Price Consideration (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
USD ($)
business_acquired
Sep. 30, 2025
USD ($)
business_acquired
Jun. 30, 2025
USD ($)
business_acquired
Mar. 31, 2025
USD ($)
business_acquired
Dec. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
business_acquired
Dec. 31, 2024
USD ($)
business
Sep. 30, 2024
USD ($)
business_acquired
Jun. 30, 2024
USD ($)
business_acquired
Mar. 31, 2024
USD ($)
business_acquired
Dec. 31, 2023
USD ($)
Sep. 30, 2023
USD ($)
business_acquired
Jun. 30, 2023
USD ($)
business_acquired
Mar. 31, 2023
USD ($)
business_acquired
Dec. 31, 2025
USD ($)
business_acquired
Dec. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
business_acquired
Dec. 31, 2024
USD ($)
business
Dec. 31, 2023
USD ($)
Dec. 31, 2023
USD ($)
business_acquired
Dec. 31, 2023
USD ($)
business
Business Combination [Line Items]                                          
Goodwill $ 494,561       $ 452,343 $ 452,343 $ 452,343       $ 343,991       $ 494,561 $ 452,343 $ 452,343 $ 452,343 $ 343,991 $ 343,991 $ 343,991
Acquisitions 2025                                          
Business Combination [Line Items]                                          
Number of completed acquisitions | business_acquired                             6            
Cash payments                             $ 74,383            
Contingent consideration                             4,813            
Total purchase price consideration                             79,196            
Tangible assets acquired 41,255                           41,255            
Intangible assets acquired 17,342                           17,342            
Total assets acquired 58,597                           58,597            
Total liabilities assumed (19,155)                           (19,155)            
Net assets acquired 39,442                           39,442            
Goodwill $ 39,754                           39,754            
Acquisitions 2025, Q1                                          
Business Combination [Line Items]                                          
Number of completed acquisitions | business_acquired       1                                  
Cash payments       $ 12,981                                  
Contingent consideration       0                                  
Total purchase price consideration       12,981                                  
Tangible assets acquired       8,160                                  
Intangible assets acquired       3,284                                  
Total assets acquired       11,444                                  
Total liabilities assumed       (4,983)                                  
Net assets acquired       6,461                                  
Goodwill       $ 6,520                                  
Acquisitions 2025, Q2                                          
Business Combination [Line Items]                                          
Number of completed acquisitions | business_acquired     1                                    
Cash payments     $ 1,027                                    
Contingent consideration     0                                    
Total purchase price consideration     1,027                                    
Tangible assets acquired     927                                    
Intangible assets acquired     203                                    
Total assets acquired     1,130                                    
Total liabilities assumed     (508)                                    
Net assets acquired     622                                    
Goodwill     $ 405                                    
Acquisitions 2025, Q3                                          
Business Combination [Line Items]                                          
Number of completed acquisitions | business_acquired   1                                      
Cash payments   $ 10,916                                      
Contingent consideration   683                                      
Total purchase price consideration   11,599                                      
Tangible assets acquired   5,219                                      
Intangible assets acquired   2,305                                      
Total assets acquired   7,524                                      
Total liabilities assumed   (1,179)                                      
Net assets acquired   6,345                                      
Goodwill   $ 5,254                                      
Acquisitions 2025, Q4                                          
Business Combination [Line Items]                                          
Number of completed acquisitions | business_acquired 3                                        
Cash payments $ 49,459                                        
Contingent consideration 4,130                                        
Total purchase price consideration 53,589                                        
Tangible assets acquired 26,949                           26,949            
Intangible assets acquired 11,550                           11,550            
Total assets acquired 38,499                           38,499            
Total liabilities assumed (12,485)                           (12,485)            
Net assets acquired 26,014                           26,014            
Goodwill 27,575                           $ 27,575            
Acquisitions 2024                                          
Business Combination [Line Items]                                          
Number of completed acquisitions                             6   7 7      
Cash payments                               161,964          
Promissory Note due 11/1/2029                               1,000          
Contingent consideration                               11,955          
Total purchase price consideration                             $ 79,200 174,919          
Tangible assets acquired         36,773 36,773 36,773                 36,773 $ 36,773 $ 36,773      
Intangible assets acquired $ 17,300       41,621 41,621 41,621               $ 17,300 41,621 41,621 41,621      
Total assets acquired         78,394 78,394 78,394                 78,394 78,394 78,394      
Total liabilities assumed         (13,207) (13,207) (13,207)                 (13,207) (13,207) (13,207)      
Net assets acquired         65,187 65,187 65,187                 65,187 65,187 65,187      
Goodwill         109,732 $ 109,732 $ 109,732                 109,732 109,732 109,732      
Acquisitions 2024, Q1                                          
Business Combination [Line Items]                                          
Number of completed acquisitions | business_acquired                   3                      
Cash payments                   $ 40,661                      
Promissory Note due 11/1/2029                   0                      
Contingent consideration                   6,132                      
Total purchase price consideration                   46,793                      
Tangible assets acquired                   18,632                      
Intangible assets acquired                   8,155                      
Total assets acquired                   26,787                      
Total liabilities assumed                   (8,605)                      
Net assets acquired                   18,182                      
Goodwill                   $ 28,611                      
Acquisitions 2024, Q2                                          
Business Combination [Line Items]                                          
Number of completed acquisitions | business_acquired                 1                        
Cash payments                 $ 81,538                        
Promissory Note due 11/1/2029                 0                        
Contingent consideration                 0                        
Total purchase price consideration                 81,538                        
Tangible assets acquired                 4,485                        
Intangible assets acquired                 23,400                        
Total assets acquired                 27,885                        
Total liabilities assumed                 (2,652)                        
Net assets acquired                 25,233                        
Goodwill                 $ 56,305                        
Acquisitions 2024, Q3                                          
Business Combination [Line Items]                                          
Number of completed acquisitions | business_acquired               1                          
Cash payments               $ 31,564                          
Promissory Note due 11/1/2029               0                          
Contingent consideration               5,197                          
Total purchase price consideration               36,761                          
Tangible assets acquired               9,026                          
Intangible assets acquired               8,246                          
Total assets acquired               17,272                          
Total liabilities assumed               (1,205)                          
Net assets acquired               16,067                          
Goodwill               $ 20,694                          
Acquisitions 2024, Q4                                          
Business Combination [Line Items]                                          
Number of completed acquisitions           2 2                            
Cash payments         8,201                                
Promissory Note due 11/1/2029         1,000                                
Contingent consideration         626                                
Total purchase price consideration         9,827                                
Tangible assets acquired         4,630 $ 4,630 $ 4,630                 4,630 4,630 4,630      
Intangible assets acquired         1,820 1,820 1,820                 1,820 1,820 1,820      
Total assets acquired         6,450 6,450 6,450                 6,450 6,450 6,450      
Total liabilities assumed         (745) (745) (745)                 (745) (745) (745)      
Net assets acquired         5,705 5,705 5,705                 5,705 5,705 5,705      
Goodwill         4,122 $ 4,122 $ 4,122                 $ 4,122 $ 4,122 $ 4,122      
Acquisitions 2023                                          
Business Combination [Line Items]                                          
Number of completed acquisitions                                       3 3
Cash payments                                     10,737    
Contingent consideration                                     2,682    
Total purchase price consideration                                     13,419    
Tangible assets acquired                     3,525               3,525 $ 3,525 $ 3,525
Intangible assets acquired                     2,527               2,527 2,527 2,527
Total assets acquired                     6,052               6,052 6,052 6,052
Total liabilities assumed                     (2,401)               (2,401) (2,401) (2,401)
Net assets acquired                     3,651               3,651 3,651 3,651
Goodwill                     9,768               9,768 9,768 9,768
Acquisitions 2023, Q1                                          
Business Combination [Line Items]                                          
Number of completed acquisitions | business_acquired                           0              
Cash payments                           $ 0              
Contingent consideration                           0              
Total purchase price consideration                           0              
Tangible assets acquired                           0              
Intangible assets acquired                           0              
Total assets acquired                           0              
Total liabilities assumed                           0              
Net assets acquired                           0              
Goodwill                           $ 0              
Acquisitions 2023, Q2                                          
Business Combination [Line Items]                                          
Number of completed acquisitions | business_acquired                         2                
Cash payments                         $ 9,235                
Contingent consideration                         2,498                
Total purchase price consideration                         11,733                
Tangible assets acquired                         3,379                
Intangible assets acquired                         2,142                
Total assets acquired                         5,521                
Total liabilities assumed                         (2,260)                
Net assets acquired                         3,261                
Goodwill                         $ 8,472                
Acquisitions 2023, Q3                                          
Business Combination [Line Items]                                          
Number of completed acquisitions | business_acquired                       0                  
Cash payments                       $ 0                  
Contingent consideration                       0                  
Total purchase price consideration                       0                  
Tangible assets acquired                       0                  
Intangible assets acquired                       0                  
Total assets acquired                       0                  
Total liabilities assumed                       0                  
Net assets acquired                       0                  
Goodwill                       $ 0                  
Acquisitions 2023, Q4                                          
Business Combination [Line Items]                                          
Number of completed acquisitions | business_acquired           1                              
Cash payments         1,502                                
Contingent consideration         184                                
Total purchase price consideration         $ 1,686           1,700                    
Tangible assets acquired                     146               146 146 146
Intangible assets acquired                     385               385 385 385
Total assets acquired                     531               531 531 531
Total liabilities assumed                     (141)               (141) (141) (141)
Net assets acquired                     390               390 390 390
Goodwill                     $ 1,296               $ 1,296 $ 1,296 $ 1,296
v3.25.4
BUSINESS ACQUISITIONS - Pro Forma Financial Results (Unaudited) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]      
Sales $ 2,092,146 $ 1,961,097 $ 1,794,749
Net income attributable to common shareholders $ 98,094 $ 93,786 $ 82,738
v3.25.4
OTHER INCOME AND EXPENSE, NET (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Income and Expenses [Abstract]      
Interest income $ (3,579) $ (4,766) $ (2,680)
Change in fair value of contingent consideration 1,406 745 1,738
Other, net (709) 504 (413)
Other income $ (2,882) $ (3,517) $ (1,355)
v3.25.4
REVENUE - Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Sales $ 2,016,365 $ 1,802,040 $ 1,678,600
Reportable Geographical Components | United States      
Disaggregation of Revenue [Line Items]      
Sales 1,939,000 1,721,000 1,602,000
Reportable Geographical Components | Canada      
Disaggregation of Revenue [Line Items]      
Sales 75,000 79,000 75,000
Reportable Geographical Components | Other      
Disaggregation of Revenue [Line Items]      
Sales $ 2,000 $ 2,000 $ 2,000
v3.25.4
REVENUE - Schedule of Reconciliation of Net Sales to Organic Net Sales (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Sales $ 2,016,365 $ 1,802,040 $ 1,678,600
Revenue change   $ 214,325 $ 123,440
Revenue change in percentage   11.90% 7.40%
Service Centers      
Disaggregation of Revenue [Line Items]      
Sales 1,373,140 $ 1,236,775  
Revenue change   $ 136,365 $ 22,173
Revenue change in percentage   11.00% 1.80%
Innovative Pumping Solutions      
Disaggregation of Revenue [Line Items]      
Sales 390,291 $ 308,850  
Revenue change   $ 81,441 $ 105,220
Revenue change in percentage   26.40% 51.70%
Supply Chain Services      
Disaggregation of Revenue [Line Items]      
Sales 252,934 $ 256,415  
Revenue change   $ (3,481) $ (3,953)
Revenue change in percentage   (1.40%) (1.50%)
Acquisition Sales      
Disaggregation of Revenue [Line Items]      
Sales 96,043 $ 98,500 $ 33,078
Revenue change   $ (2,457) $ 65,422
Revenue change in percentage   (2.50%) 197.80%
Acquisition Sales | Service Centers      
Disaggregation of Revenue [Line Items]      
Sales 56,164 $ 36,944 $ 19,275
Revenue change   $ 19,220 $ 17,669
Revenue change in percentage   52.00% 91.70%
Acquisition Sales | Innovative Pumping Solutions      
Disaggregation of Revenue [Line Items]      
Sales 39,879 $ 61,556 $ 13,803
Revenue change   $ (21,677) $ 47,753
Revenue change in percentage   (35.20%) 346.00%
Acquisition Sales | Supply Chain Services      
Disaggregation of Revenue [Line Items]      
Sales 0 $ 0 $ 0
Revenue change   0 0
Organic Sales      
Disaggregation of Revenue [Line Items]      
Sales 1,920,322 1,703,540 1,645,522
Revenue change   $ 216,782 $ 58,018
Revenue change in percentage   12.70% 3.50%
Organic Sales | Service Centers      
Disaggregation of Revenue [Line Items]      
Sales 1,316,976 $ 1,199,831 $ 1,195,327
Revenue change   $ 117,145 $ 4,504
Revenue change in percentage   9.80% 0.40%
Organic Sales | Innovative Pumping Solutions      
Disaggregation of Revenue [Line Items]      
Sales 350,412 $ 247,294 $ 189,827
Revenue change   $ 103,118 $ 57,467
Revenue change in percentage   41.70% 30.30%
Organic Sales | Supply Chain Services      
Disaggregation of Revenue [Line Items]      
Sales $ 252,934 $ 256,415 $ 260,368
Revenue change   $ (3,481) $ (3,953)
Revenue change in percentage   (1.40%) (1.50%)
v3.25.4
SEGMENT REPORTING - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
segment
Segment Reporting [Abstract]  
Number of operating segments 3
Number of reportable segments 3
v3.25.4
SEGMENT REPORTING - Schedule of Financial Information of Company's Segments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Sales $ 2,016,365 $ 1,802,040 $ 1,678,600
Operating expenses 1,712,759 1,539,751 1,438,371
Other expenses      
Depreciation 10,372 9,019 8,423
Amortization of finance lease assets 6,808 4,559 3,451
Other 109,556 103,329 89,633
Income from operations 176,870 145,382 138,722
Interest expense 60,530 63,927 53,146
Other (income) expense, net (2,882) (3,517) (1,355)
Income before income taxes 119,222 84,972 86,931
Capital expenditures 40,286 25,068 12,263
General and administrative expense 87,900 83,500 71,400
Amortization of intangibles and finance lease assets 21,670 19,827 18,200
Operating Segments      
Segment Reporting Information [Line Items]      
Sales 2,016,365 1,802,040 1,678,600
Operating expenses 1,712,759 1,539,751 1,438,371
Other expenses      
Depreciation 6,916 6,509 6,443
Amortization of finance lease assets 6,382 3,453 3,285
Other 0 0 0
Income from operations 290,308 252,327 230,501
Interest expense 0 0 0
Other (income) expense, net 0 0 0
Income before income taxes 290,308 252,327 230,501
Capital expenditures 8,089 6,750 8,242
Corporate      
Segment Reporting Information [Line Items]      
Sales 0 0 0
Operating expenses 0 0 0
Other expenses      
Depreciation 3,456 2,510 1,980
Amortization of finance lease assets 426 1,106 166
Other 109,556 103,329 89,633
Income from operations (113,438) (106,945) (91,779)
Interest expense 60,530 63,927 53,146
Other (income) expense, net (2,882) (3,517) (1,355)
Income before income taxes (171,086) (167,355) (143,570)
Capital expenditures 32,197 18,318 4,021
Service Centers      
Segment Reporting Information [Line Items]      
Sales 1,373,140 1,236,775  
Service Centers | Operating Segments      
Segment Reporting Information [Line Items]      
Sales 1,373,140 1,236,775 1,214,602
Operating expenses 1,165,844 1,051,316 1,032,264
Other expenses      
Depreciation 3,865 3,125 2,729
Amortization of finance lease assets 5,265 2,812 3,026
Other 0 0 0
Income from operations 198,166 179,522 176,583
Interest expense 0 0 0
Other (income) expense, net 0 0 0
Income before income taxes 198,166 179,522 176,583
Capital expenditures 4,509 4,144 6,277
Innovative Pumping Solutions      
Segment Reporting Information [Line Items]      
Sales 390,291 308,850  
Innovative Pumping Solutions | Operating Segments      
Segment Reporting Information [Line Items]      
Sales 390,291 308,850 203,630
Operating expenses 316,119 253,927 167,333
Other expenses      
Depreciation 3,019 3,352 3,687
Amortization of finance lease assets 930 508 214
Other 0 0 0
Income from operations 70,223 51,063 32,396
Interest expense 0 0 0
Other (income) expense, net 0 0 0
Income before income taxes 70,223 51,063 32,396
Capital expenditures 3,580 2,593 1,965
Supply Chain Services      
Segment Reporting Information [Line Items]      
Sales 252,934 256,415  
Supply Chain Services | Operating Segments      
Segment Reporting Information [Line Items]      
Sales 252,934 256,415 260,368
Operating expenses 230,796 234,508 238,774
Other expenses      
Depreciation 32 32 27
Amortization of finance lease assets 187 133 45
Other 0 0 0
Income from operations 21,919 21,742 21,522
Interest expense 0 0 0
Other (income) expense, net 0 0 0
Income before income taxes 21,919 21,742 21,522
Capital expenditures $ 0 $ 13 $ 0
v3.25.4
SEGMENT REPORTING - Schedule of Assets by Segments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Segment Reporting Information [Line Items]    
Total Reportable Segments Assets $ 1,685,155 $ 1,349,494
Operating Segments    
Segment Reporting Information [Line Items]    
Total Reportable Segments Assets 1,298,535 1,138,607
Corporate    
Segment Reporting Information [Line Items]    
Total Reportable Segments Assets 386,620 210,887
Service Centers | Operating Segments    
Segment Reporting Information [Line Items]    
Total Reportable Segments Assets 820,289 744,966
Innovative Pumping Solutions | Operating Segments    
Segment Reporting Information [Line Items]    
Total Reportable Segments Assets 383,201 307,818
Supply Chain Services | Operating Segments    
Segment Reporting Information [Line Items]    
Total Reportable Segments Assets $ 95,045 $ 85,823
v3.25.4
RELATED PARTIES DISCLOSURES (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Minimum      
Related Party Transaction [Line Items]      
Amount of transaction with related party $ 120,000    
Chief Executive Officer      
Related Party Transaction [Line Items]      
Lease expenses $ 2,300,000 $ 1,900,000 $ 1,800,000