Income Taxes (Tables)

12 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The sources and tax effects of the differences were as follows:

	Year Ended March 31,
	2025			2024			2023
Statutory federal income tax rate (1)	21.00		%	21.00		%	21.00		%
Expected tax expense (benefit) at statutory rate	$	(1,156)		$	12,921		$	15,640
State income taxes net of federal benefit	(514)			652			2,719
Foreign taxes at rates other than statutory federal rate	(431)			(247)			1,757
Employee benefits	483			1,347			1,207
US benefit on foreign derived income	(259)			(686)			(477)
US Tax on foreign earnings	379			757			1,257
Permanent items (4)	421			694			168
Valuation allowance (3)	181			(1,109)			(787)
Federal tax credits	(1,002)			(1,384)			(1,539)
Other (3)	(28)			1,437			285
Tax audit adjustments (2)	—			(819)			2,523
Unremitted earnings	397			501			720
Reversal of stranded tax effects from AOCI	961			(22)			—
Interest income from tax refunds	(505)			—			—
Non-deductible interest	286			420			119
Transfer pricing adjustments	600			—			—
Return to provision adjustment	(180)			440			2,454
Actual tax provision expense	$	(367)		$	14,902		$	26,046

(1) Fiscal year 2024 and 2023 table amounts have been adjusted to be consistent with individual rate reconciling items disclosed for fiscal 2025.

(2) For fiscal 2023, the Company settled income tax assessments related to tax periods prior to the Company's acquisition of STAHL. In accordance with the tax indemnification clause of the share purchase agreement, the Company received full reimbursement from STAHL’s prior owner which was recorded as a gain in Other (income) expense, net. For fiscal 2024, the Company collected tax refunds related to a period prior to the Company's acquisition of STAHL. In accordance with

the tax indemnification clause of the share purchase agreement, the Company will reimburse STAHL’s prior owner which was recorded as an loss in Other (income) expense, net.

(3) For fiscal 2024, the Company wrote off $1,142,000 of tax attributes as a result of legal entity simplification.The tax attributes had an associated valuation allowance of $1,142,000 which was also written off in fiscal 2024.

(4) For fiscal 2024, a tax impact of $525,000 from non-deductible transaction costs was incurred as part of the montratec GmbH acquisition.

Schedule of Provision for Income Tax Expense (Benefit)

The provision for income tax expense (benefit) consisted of the following:

	Year Ended March 31,
	2025		2024		2023
Current income tax expense (benefit):
United States Federal	$	6,843	$	15,375	$	7,772
State taxes	850		2,715		2,218
Foreign	12,226		12,097		16,356
Deferred income tax expense (benefit):
United States	(17,411)		(12,451)		(517)
Foreign	(2,875)		(2,834)		217
	$	(367)	$	14,902	$	26,046

Schedule of Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:

	March 31,
	2025		2024
Deferred tax assets (1):
Federal net operating loss carryforwards	$	10,649	$	11,779
State and foreign tax loss and credit carryforwards	8,992		9,354
Employee benefit plans	9,624		12,203
Inventory	4,243		3,853
Insurance reserves	3,060		3,301
Accrued vacation and incentive costs	2,943		3,929
Federal tax credit carryforwards	12,080		12,094
ASC 842 Lease Liability	19,996		20,120
Equity compensation	5,309		5,247
Capitalized Research and Development Costs	15,069		12,029
Interest Carryforwards	10,411		5,657
Other	341		—
Valuation allowance	(15,802)		(15,156)
Deferred tax assets after valuation allowance	86,915		84,410
Deferred tax liabilities:
Property, plant, and equipment	(5,909)		(7,525)
ASC 842 Right-of-Use Asset	(16,807)		(18,509)
Intangible assets	(88,275)		(96,494)
Other	—		(535)
Unremitted earnings	(1,322)		—
Total deferred tax liabilities	(112,313)		(123,063)
Net deferred tax assets (liabilities)	$	(25,398)	$	(38,653)

(1) Fiscal year 2024 table amounts have been adjusted to be consistent with individual deferred tax items disclosed for fiscal 2025.

Schedule of Classification of Deferred Income Taxes in Consolidated Balance Sheet

Deferred income taxes are classified within the consolidated balance sheets based on the following breakdown:

	March 31,
	2025		2024
Net non-current deferred tax assets	$	2,904	$	1,797
Net non-current deferred tax liabilities	(28,302)		(40,450)
Net deferred tax assets (liabilities)	$	(25,398)	$	(38,653)

Schedule of Uncertain Income Tax Positions

Changes in the Company’s uncertain income tax positions, excluding the related accrual for interest and penalties, are as follows:

	2025		2024		2023
Beginning balance	$	411	$	411	$	414
Additions for prior year tax positions	563		—		—
Foreign currency translation	25		—		(3)
Ending balance	$	999	$	411	$	411