GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

We have three operating segments which are also our reporting units: Electronic Test, Environmental Technologies and Process Technologies. Goodwill and intangible assets on our balance sheets are the result of our acquisitions.

Goodwill

Changes in the amount of the carrying value of goodwill for the six months ended June 30, 2025, are as follows:

(in thousands)
Balance - January 1, 2025	$	30,744
Impact of foreign currency translation adjustments	1,693
Balance – June 30, 2025	$	32,437

Goodwill was comprised of the following at June 30, 2025, and December 31, 2024:

(in thousands)	June 30, 2025		December 31, 2024
Electronic Test	$	14,018	$	12,567
Environmental Technologies	1,817		1,817
Process Technologies	16,602		16,360
Total goodwill	$	32,437	$	30,744

Intangible Assets

Changes in the amount of the carrying value of our intangible assets for the six months ended June 30, 2025 were as follows:

(in thousands)	Finite-Lived		Indefinite-Lived
Balance - January 1, 2025	$	16,201	$	10,175
Impact of foreign currency translation adjustments	1,590		344
Amortization	(1,663)		—
Balance – June 30, 2025	$	16,128	$	10,519

The following tables provide further detail about our intangible assets as of June 30, 2025, and December 31, 2024:

	June 30, 2025
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	25,247	$	12,756	$	12,491
Technology	6,302		2,665		3,637
Patents	590		590		—
Backlog	—		—		—
Software	270		270		—
Trade name	140		140		—
Total finite-lived intangible assets	32,549		16,421		16,128
Indefinite-lived intangible assets:
Trademarks	10,519		—		10,519
Total intangible assets	$	43,068	$	16,421	$	26,647

	December 31, 2024
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	23,912	$	11,496	$	12,416
Technology	5,786		2,001		3,785
Patents	590		590		—
Backlog	481		481		—
Software	270		270		—
Trade name	140		140		—
Total finite-lived intangible assets	31,179		14,978		16,201
Indefinite-lived intangible assets:
Trademarks	10,175		—		10,175
Total intangible assets	$	41,354	$	14,978	$	26,376

The following table sets forth the estimated annual amortization expense for each of the next five years:

(in thousands)
Remaining 2025	$	1,699
2026	2,608
2027	2,057
2028	1,699
2029	1,364
Thereafter	6,701
Total estimated amortization of finite-lived intangible assets	$	16,128