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 $ 53,829 $ 64,087 $ 72,878
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 61,932 55,563 46,612
Provision for inventory excess and obsolescence 3,265 8,783 7,491
Impairment of operating lease assets     1,853
Share-based compensation 29,538 23,307 25,588
Deferred income taxes (8,853) (15,909) (14,726)
Loss (gain) on disposal of fixed assets (4,107) (64) 148
Contingent consideration adjustments 830 (282)  
Inventory acquisition fair value adjustments   2,777  
Write-off of unamortized deferred financing costs 426    
Non-cash interest expense 1,472 1,162 1,162
Other non-cash items 857 170 397
Changes in assets and liabilities which provided/(used) cash, excluding effects from business acquisitions:      
Accounts receivable, net of allowance (27,272) (6,193) (127)
Inventories (36,101) 4,781 11,366
Prepaid expenses and other current assets (1,269) (1,492) 709
Prepaid income taxes, income taxes receivable and income taxes payable (12,381) 9,013 (12,349)
Accounts payable, accrued expenses and other current liabilities 3,707 13,062 (20,453)
Other non-current assets and liabilities (1,817) (253) (474)
Cash provided by operating activities 64,056 158,512 120,075
Cash flows from investing activities:      
Purchases of property, plant and equipment (15,627) (17,162) (19,961)
Acquisition of businesses, net of cash acquired and working capital adjustments (64,291) (191,200)  
Proceeds from sale of property, plant and equipment 5,596 173 69
Cash used in investing activities (74,322) (208,189) (19,892)
Cash flows from financing activities:      
Borrowings under revolving credit facilities 82,805 198,000  
Proceeds from issuance of tangible equity units, net of issuance costs 614,390    
Repayments under term loan and revolving credit facilities (365,725) (131,066) (86,552)
Payments of debt issuance costs (4,715) 0  
Payments of withholding taxes from share-based awards (7,809) (9,713) (10,563)
Payments of contingent considerations related to acquisitions 0 0 (81)
Repurchases of common shares (39,278)    
Other financing activities (3,338) (278) (657)
Cash provided by (used in) financing activities 276,330 56,943 (97,853)
Effect of exchange rates on cash and cash equivalents 818 1,672 2,616
Increase (decrease) in cash and cash equivalents 266,882 8,938 4,946
Cash and cash equivalents, beginning of year 113,989 105,051 100,105
Cash and cash equivalents, end of year 380,871 113,989 105,051
Supplemental disclosure of cash flow information:      
Cash paid for interest 22,568 32,673 25,302
Cash paid for income taxes 38,667 21,152 36,903
Income tax refunds received 1,942 1,553 612
Supplemental disclosure of non-cash investing activities:      
Accruals for capital expenditures $ 1,150 $ 2,529 $ 570