Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Intangible Assets and Goodwill

The changes in intangible assets and goodwill from December 31, 2022 to December 31, 2024, were as follows:

(in thousands, except for years)	Amortization life in years	Balance at December 31, 2023		Other Changes		Amortization		Currency Translation		Balance at December 31, 2024
Finite-lived intangible assets:
AEC Trademarks and trade names	6-15	$	22	$	—	$	(11)	$	—	$	11
AEC Technology	10-15	3,426		—		(569)		(177)		2,680
AEC Intellectual property	15	911		—		(83)		—		828
AEC Customer relationships	8-15	25,485		—		(3,480)		(113)		21,892
Heimbach Developed technology	9	8,732		(289)		(953)		(486)		7,004
Total Finite-Lived intangible assets, net		$	38,576	$	(289)	$	(5,096)	$	(776)	$	32,415
Indefinite-lived intangible assets:
Heimbach Trade name		$	6,070	$	—	$	—	$	(358)	$	5,712
MC Goodwill		66,873		—		—		(2,885)		63,988
AEC Goodwill		113,308		—		—		(1,035)		112,273
Total Indefinite-lived intangible assets		$	186,251	$	—	$	—	$	(4,278)	$	181,973

(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

Schedule of Estimated Amortization Expense

Estimated amortization expense of intangibles for the years ending December 31, 2025 through 2029, is as follows:

Year	Annual amortization (in thousands)
2025	$	5,000
2026	5,000
2027	5,000
2028	4,900
2029	4,900