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Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt

As of December 31, 2024 and 2023, long-term debt consisted of the following:

 

 

December 31, 2024

 

 

December 31, 2023

 

 

 

Average
Interest Rate

 

Outstanding
Balance

 

 

Average
Interest Rate

 

Outstanding
Balance

 

Term Loan

 

 

 

$

200,250

 

 

 

 

$

207,750

 

Delayed-Draw Term Loan

 

 

 

 

156,750

 

 

 

 

 

220,000

 

Revolving Credit

 

 

 

 

57,225

 

 

 

 

 

6,340

 

 Total before debt issuance costs

 

6.6%

 

 

414,225

 

 

6.7%

 

 

434,090

 

 Unamortized debt issuance costs

 

 

 

 

(2,482

)

 

 

 

 

(3,683

)

 

 

 

 

$

411,743

 

 

 

 

$

430,407

 

 

 

 

 

 

 

 

 

 

 

 

Current portion of long-term debt

 

 

 

$

 

 

 

 

$

26,000

 

Long-term debt - non-current

 

 

 

 

411,743

 

 

 

 

 

404,407

 

Total

 

 

 

$

411,743

 

 

 

 

$

430,407

 

Schedule of Future Scheduled Repayments of Debt Principal

Future scheduled repayments of debt principal are as follows:

Payments due by

 

Term Loan

 

 

Delayed-Draw Term Loan

 

 

Revolving Credit

 

 

Total

 

December 31, 2025

 

$

 

 

$

 

 

$

 

 

$

 

December 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2027

 

 

200,250

 

 

 

156,750

 

 

 

57,225

 

 

 

414,225

 

 Total

 

$

200,250

 

 

$

156,750

 

 

$

57,225

 

 

$

414,225