Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Intangible Assets and Goodwill

The changes in intangible assets and goodwill from December 31, 2021 to December 31, 2023, were as follows:

(in thousands, except for years)	Amortization life in years	Balance at December 31, 2022		Acquisition		Amortization		Currency Translation		Balance at December 31, 2023
Finite-lived intangible assets:
AEC Trademarks and trade names	6-15	$	34	$	—	$	(12)	$	—	$	22
AEC Technology	10-15	3,884		—		(567)		109		3,426
AEC Intellectual property	15	994		—		(83)		—		911
AEC Customer relationships	8-15	28,899		—		(3,480)		66		25,485
Heimbach Developed technology	9	—		8,918		(310)		124		8,732
Total Finite-Lived intangible assets, net		$	33,811	$	8,918	$	(4,452)	$	299	$	38,576
Indefinite-lived intangible assets:
Heimbach Trade name		$	—	$	5,982	$	—	$	88	$	6,070
MC Goodwill		65,441		—		—		1,432		66,873
AEC Goodwill		112,776		—		—		532		113,308
Total Indefinite-lived intangible assets		$	178,217	$	5,982	$	—	$	2,052	$	186,251

(in thousands, except for years)	Amortization life in years	Balance at December 31, 2021		Other Changes		Amortization		Currency Translation		Balance at December 31, 2022
Finite-lived intangible assets:
AEC Trademarks and trade names	6-15	$	45	$	—	$	(11)	$	—	$	34
AEC Technology	10-15	4,712		—		(554)		(274)		3,884
AEC Intellectual property	15	1,077		—		(83)		—		994
AEC Customer contracts	6	720		—		(720)		—		—
AEC Customer relationships	8-15	32,527		—		(3,474)		(154)		28,899
Total Finite-Lived intangible assets, net		$	39,081	$	—	$	(4,842)	$	(428)	$	33,811
Indefinite-lived intangible assets:
MC Goodwill		$	68,329	$	—	$	—	$	(2,888)	$	65,441
AEC Goodwill		113,795		—		—		(1,019)		112,776
Total Indefinite-lived intangible assets		$	182,124	$	—	$	—	$	(3,907)	$	178,217

Schedule of Estimated Amortization Expense

Estimated amortization expense of intangibles for the years ending December 31, 2024 through 2028, is as follows:

Year	Annual amortization (in thousands)
2024	$	5,200
2025	5,200
2026	5,200
2027	5,100
2028	5,100