Acquisition Strategy. In addition to organic growth, we plan to actively pursue acquisition opportunities complementary to our businesses that we believe will be financially accretive to our organization. Recent Other Acquisitions — During 2022, other businesses were acquired as part of the growth strategy. TestEquity acquired Interworld Highway, LLC for $54.7 million, National Test Equipment for $7.2 million, and Instrumex for $3.9 million. Gexpro Services acquired Resolux ApS ("Resolux") for $30.8 million and Frontier Technologies Xxxxxxx, LLC and Frontier Engineering and Manufacturing Technologies, Inc. ("Frontier") for $25.7 million. The consideration exchanged for these acquired businesses included various combinations of cash, sellers notes, and forms of share based payments. For more information about these acquisitions, refer to the "Other Acquisitions" section of Note 3 – Business Acquisitions in Item 8. Financial Statements. Human Capital Resources - General Employee Information Our organization supports a culture of continuous improvement and emphasizes the importance of addressing the needs of our customers. We require our employees to act with integrity in every aspect of our business while encouraging them to be results driven, team oriented and progressive. As of December 31, 2022, our combined workforce included approximately 3,100 individuals, comprised of approximately 1,646 in sales and marketing, approximately 1,189 in operation and distribution and approximately 298 in management and administration. Approximately 1,720 individuals are within Xxxxxx, 554 are within TestEquity, 684 are within Gexpro Services, with the remaining in corporate or other non-reportable segments. Segments The Company’s three reportable segments are (i) Xxxxxx, (ii) Gexpro Services and (iii) TestEquity, which align with our principle operating businesses. The following is a discussion of these reportable segments. For more information about our segments, please refer to Note 14 – Segment Information in Item 8. Financial Statements, which is incorporated herein by reference.
Acquisition Strategy. The Interim Small Unit Remote Scouting System (ISURSS) is an evolutionary acquisition program that provides Marine Corps small unit maneuver and support Commanders with real-time tactical and reconnaissance/surveillance information. The DE UAV was selected as the vehicle to meet the operational requirements of the ISURSS air vehicle. ISURSS will transition into SURSS consistent with the program’s evolutionary acquisition strategy. The SURSS ORD describes time-phased requirements that incrementally incorporate block upgrades for improved performance of the system every two years. Each block upgrade (an increment in capability) will have its own levels of required capabilities established by the Fleet. Block changes to the baseline DE system design will be made through the Engineering Change Proposal (ECP) process. The Government will approve ECPs for block upgrades in performance or logistics supportability. The ECP process will be driven by the maturation of technologies and the evolving needs of the owning units.
Acquisition Strategy i. Develop strategy to acquire used oil volume, and to pursue adjacent investment opportunities, through acquisitions and mergers.
