| Summary of Segment Information |
Information related to net sales and Adjusted EBITDA for the Company’s operations are summarized below (in thousands):
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Successor |
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Predecessor |
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Successor |
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Predecessor |
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Three Months Ended
September 30, 2022 |
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Three Months Ended
September 30, 2021 |
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Nine Months Ended
September 30, 2022 |
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Nine Months Ended
September 30, 2021 |
| Net sales: |
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| Fire safety |
$ |
121,963 |
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$ |
172,445 |
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$ |
207,010 |
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$ |
237,256 |
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| Specialty products |
38,546 |
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22,969 |
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112,222 |
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|
79,204 |
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| Total |
$ |
160,509 |
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$ |
195,414 |
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$ |
319,232 |
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$ |
316,460 |
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| Adjusted EBITDA: |
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| Fire safety |
$ |
60,363 |
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$ |
97,854 |
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$ |
81,248 |
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$ |
116,680 |
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| Specialty products |
15,264 |
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2,496 |
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42,038 |
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17,919 |
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| Total segment Adjusted EBITDA |
75,627 |
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|
100,350 |
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|
123,286 |
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|
134,599 |
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| Less: |
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| Depreciation and amortization |
16,450 |
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15,212 |
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49,536 |
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45,593 |
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| Interest and financing expense |
9,944 |
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8,065 |
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32,582 |
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|
23,951 |
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| Founders advisory fees - related party |
(73,713) |
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— |
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(154,026) |
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— |
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| Non-recurring expenses |
1,168 |
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|
3,855 |
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4,788 |
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12,805 |
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| Share-based compensation expense |
6,832 |
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— |
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19,297 |
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— |
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| Non-cash purchase accounting impact |
658 |
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— |
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27,973 |
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— |
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| (Gain) loss on contingent earn-out |
(3,644) |
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— |
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(13,042) |
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2,763 |
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| Management fees |
— |
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|
313 |
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— |
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|
937 |
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| Contingent future payments |
— |
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|
625 |
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— |
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1,875 |
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| Unrealized foreign currency loss |
4,705 |
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1,634 |
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8,741 |
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3,892 |
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| Income before income taxes |
$ |
113,227 |
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$ |
70,646 |
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$ |
147,437 |
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$ |
42,783 |
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